Market Watch - "D.R. Horton's quarterly orders drop 25%" (10-10-06)

"D.R. Horton Inc. said Tuesday fourth-quarter net sales orders for new homes dropped 25% from a year earlier on sluggish demand for housing."

"Its cancellation rate for the latest quarter rose to 40%, up from 29% the prior year. D.R. Horton said it will release fourth-quarter earnings on Nov. 14."

" Also Tuesday, KB Home said quarterly orders fell 43% from a year earlier as the company delayed filing full financial results for the third quarter to complete an internal review of stock-option grants." See related story