Starbucks (SBUX 1.37%) has reintroduced a policy from six years ago preventing people from using the facilities in its North American cafes if they haven't bought anything, as it seeks to boost sales under CEO Brian Niccol's "Back to Starbucks" strategy.

Pershing Square Capital Management is having a formal offer to buy Howard Hughes (HHH 9.53%) evaluated by the management team, in a bid that could help founder Bill Ackman copy the strategy Warren Buffett has employed at multi-Stock Advisor recommendation Berkshire Hathaway (BRK.B 0.28%).

• "With apologies to Mr. Buffett, HHH would become a modern-day Berkshire Hathaway": Ackman flagged how buying the community and retail property business would mirror what Buffett did with buying Berkshire as a textile company. The provision of stable cash flow then provides funds to fuel dealmaking.
• Same dream, different sizes: Howard Hughes stock jumped almost 10% yesterday, although the bid at $85 a share is still at a premium to the closing price of $78.62. Investors should note that while Berkshire has a market cap of almost $1 trillion, Howard Hughes trades at just $4 billion.

Homebuilder KB Homes (KBH 1.41%) posted strong full-year results, flagging up continued demand for new housing in the domestic market.

• "Buyers continued to demonstrate a desire for homeownership": Despite the average 30-year fixed mortgage being at 6.72% last week, KB Homes noted the past year saw housing market conditions improve, despite the interest rate headwinds. Revenue at the company grew by 19% versus last year.
• A leading indicator for the economy: Investors will be looking to Housing Starts and Building Permits data due out on Friday for more information on the state of the property market.