Homebuilder Stocks Rally After Lennar Results Top Estimates

January 13, 2020
Felice Maranz – Bloomberg

Builders rose after Lennar Corp.’s fourth-quarter orders and revenue beat estimates, even as home prices fell in the quarter.

Lennar shares jumped as much as 5.4% in early Wednesday trading, the most since March 27. The S&P Supercomposite Homebuilding Index rose as much as 2.9% to the highest since Dec. 12, with top gainers including M/I Homes Inc., which got an upgrade earlier, William Lyon Homes, Century Communities Inc. and Toll Brothers Inc.



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