Toll Brothers reports big loss

Toll Brothers, the nation’s largest luxury homebuilder, reported its biggest quarterly loss in 22 years and its second consecutive loss. Its loss of $96 million or 61 cents a share for the first fiscal quarter was higher than the 50 cents a share that analysts had predicted. “Lack of demand is what’s hurting all the homebuilders right now,” Dave Crossman, an analyst at Kirr Marbach & Co. in Columbus, Indiana, said. “Where they think there’s no demand, they’ve basically stopped building,” he said of the builder.