Lennar Crushes Estimates, Shares Seesaw Up and Down
Homebuilder Lennar (LEN) early Tuesday reported fourth-quarter earnings that crushed estimates, more than tripling profit on 33% higher revenue. Investors had set the bar high, though, amid the blossoming housing recovery. Shares seesawed in early Tuesday trading and were down sharply midday. Lennar, third largest U.S homebuilder, reported earnings per share of 56 cent, vs. 16 cents the same quarter last year, and 22 cents above analyst outlook
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