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Stuart A. Miller

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Lennar Delivers More Homes, Beats Street in 1Q

Fueled by a rise in home sales and stronger prices, Lennar (NYSE:LEN) became the latest major U.S. homebuilder on Wednesday to top quarterly Wall Street expectations, signaling an intensifying recovery of the broader housing market.The Miami-based homebuilder reported first-quarter earnings of $57.5 million, or 26 cents a share, compared with a year-earlier $15 million, or 8 cents.The results topped average analyst estimates of 15 cents in a Thomson Reuters poll.The announcement comes after rival D.R. Horton (NYSE:DHI) revealed stronger-than-expected earnings in late January that more than doubled from the year-earlier period amid sharply higher home sales. KB Home (NYSE:KBH) is on tap to report on Thursday. Revenue for the three months ended Feb. 28 climbed to $990 million, up from $725 million a year ago, beating the Street's view of $895 million.Lennar CEO Stuart Miller said the results reflect continued improvement in the marketplace."Current market conditions are driven by strong ...

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  1. Lennar Profits Shrink, But New Orders Climb 20%

    Lennar (NYSE:LEN) suffered a 5.5% slip in fourth-quarter profits, but the large U.S. homebuilder revealed encouraging improvements in sales and new orders.The Miami-...

  2. Lennar Posts 1Q Profit Despite Weak Home Sales

    Despite softer home sales, Lennar (NYSE:LEN) revealed on Tuesday a first-quarter profit over a year ago loss on improvements in its distressed real estate business. ...

  3. Ponzi schemer charged with insider trading

    MIAMI (Reuters) - Barry Minkow, an audacious former Ponzi scheme swindler who claimed to have cleaned up his act, was charged on Thursday with insider trading in sha...

  4. Lennar to Acquire $740M of Distressed Real Estate

    Lennar ( LEN ) has acquired $740 million of distressed real estate from three large financial institutions in an effort to expand investment opportunities as banks a...

  5. Lennar profit beats, orders down less than feared

    By Helen ChernikoffNEW YORK (Reuters) - Lennar Corp, the third-biggest homebuilder in the United States, reported a higher-than-expected quarterly profit and a decli...

  6. Lennar 3Q Earnings Beat Wall Street Despite Expiration of Homebuyer Tax Credit

    Lennar ( LEN ) traded higher Monday after reporting third-quarter earnings that widely beat expectations, as home sales prevailed despite the expiration of the homeb...

  7. Lennar quarterly profit beats, orders down 15 pct

    By Helen ChernikoffNEW YORK (Reuters) - Lennar Corp <LEN.N> reporteda higher-than-expected quarterly profit and a decline in ordersthat was less severe than Wall Str...

  8. Lennar quarterly profit beats, but new orders fall

    By Helen ChernikoffNEW YORK (Reuters) - Lennar Corp <LEN.N> reporteda higher-than-expected quarterly profit as the No. 3 U.S.homebuilder benefited from orders placed...

  9. Lennar Narrows 1Q Loss; Backlog Up

    Lennar (LEN) said Wednesday it reduced its fiscal first-quarter loss further than Wall Street had been hoping for, sending the home builder’s stock jumping more than...

  1. Housing Recovery Powers Lennar's 4Q Beat

    Lifted by the strengthening recovery in the housing market, home builder Lennar (NYSE:LEN) beat the Street on Tuesday by revealing surging fourth-quarter profits and...

  2. Lennar's Net Surges amid Housing Recovery

    Lennar Corp.'s (LEN, LENB) fiscal fourth-quarter earnings surged as the homebuilder continued to record double-digit revenue growth amid a broad housing market recov...

  3. Lennar Beats Street in 3Q

    Signaling a broadening recovery of the U.S. housing market, Lennar (NYSE:LEN) posted on Monday a stronger-than-expected third-quarter profit as housing prices and de...

  4. Lennar Trumps Expectations in 2Q

    Miami-based homebuilder Lennar (NYSE:LEN) reported a 40% rise in orders during the second quarter and trumped Wall Street expectations on sales and earnings, offerin...

  5. Lennar 1Q Sales Rise Sharpest in Four Years

    Shares of Lennar (NYSE:LEN) surged 4% to a new 52-week high Tuesday morning after the homebuilder revealed first-quarter profit that topped Wall Street expectations ...

  6. Lennar Sparks Rally In Homebuilding Stocks

    Investors bid up Lennar and other U.S. homebuilders Tuesday, with Lennar gaining 4% to $27.52 in early trades after its CEO said the market is stabilizing. Lennar re...

  7. Lennar Net Off On Year-ago Gain; Margins Widen

    Lennar Corp. reported on Tuesday that fiscal-first-quarter net income fell 45% because of a year-earlier gain but said operating-profit margins in homebuilding were ...

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