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Corporate Summary

•    Shares of KB Home (NYSE:KBH) fell 8.5% after it announced that home orders plunged 8% as cancellation of new home contracts had increased for the period between December and February

•    Micron Technology, Inc. (NASDAQ:MU) lost 3.6% after reporting dismal quarterly results late on Thursday. The company’s adjusted second quarter fiscal 2012 loss per share came in at $0.23, wider than the Zacks Consensus Estimate of loss per share of $0.18

•    Following news that four of KIT digital, Inc.’s (NASDAQ:KITD) board members had vacated office, shares of the company slumped by 22.3% to end at $6.33 a share

•    The Wet Seal, Inc. (NASDAQ:WTSLA) late on Thursday, reported fourth quarter 2011 earnings of 3 cents per share, in line with the Zacks Consensus Estimate, but 57.1% lower than numbers from the year-ago period. Quarterly revenues of $163.2 million missed the Zacks Consensus Estimate of $165 million and the company’s shares dropped 7.6% on Friday
 

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