CEO Stuart Miller

NEW YORK (Reuters) - Homebuilder Lennar Corp <LEN.N> reported a quarterly profit versus a year-ago loss, but orders fell and its shares were down 1.6 percent in premarket trading.Lennar posted earnings of $39.7 million, or 21 cents a share, for the second quarter ended May 31, compared with a loss of $125.2 million, or 76 cents per share, a year earlier.Orders fell 10 percent, with the entire decline coming in May after the federal homebuyer tax credit expired, the company said."During the second...Read Full Story

NEW YORK (Reuters) - Lennar Corp <LEN.N>, the third-largest U.S. homebuilder, swung to a quarterly profit, sending its shares up in premarket trading.The Miami-based builder, which has operations in 14 states, said gross margins on home sales rose 80 basis points to 20 percent."Gross margin percentage on home sales improved compared to last year, primarily due to reduced sales incentives offered to home buyers as a percentage of revenues from home sales," the company said.December-to-February net...Read Full Story

Homebuilder Lennar Corp. said Monday it plans to sell $500 million worth of senior debt and use part of the proceeds to buy back $200 million in other notes in a move to reduce its interest payments.The company will sell $250 million of senior notes due 2018 by May 3, and $250 million worth of convertible senior notes that will come due in 2020. Lennar will use about $200 million from the 2018 notes sale to launch a tender offer for debt due between now and 2013.The tender offer for the 5.125...Read Full Story

Developer Lennar Corp. said Wednesday it has completed transactions with the Federal Deposit Insurance Corp. under which the homebuilder and the independent government agency will resolve about 5,500 distressed real estate loans.Lennar and the FDIC, which insures bank deposits, will hold equity interests in two portfolios of loans with a combined unpaid balance of $3.05 billion, Miami-based Lennar said. The transactions include about 5,500 distressed residential and commercial real estate...Read Full Story

MIAMI (Reuters) - Barry Minkow, an ex-convict and Wall Street con artist who went on to win the trust of federal law enforcement officials, pleaded guilty on Wednesday to conspiracy to commit securities fraud in a case involving leading U.S. homebuilder Lennar Corp.In a plea agreement filed in a Miami federal court, Minkow admitted to spreading lies about Lennar that caused its stock price to plummet in January 2009.The losses to Miami-based Lennar were estimated in the plea agreement to...Read Full Story

(Reuters) - Homebuilder Lennar Corp <LEN.N> posted a fourth-quarter profit, helped by a year-over-year increase in new orders, reduced sales incentives and lower construction costs and a tax benefit.Lennar said as a result of tax legislation that was enacted in its fourth quarter, it will receive a tax refund of about $320 million in early 2010."Our improved balance sheet enables us to continue to capitalize on distressed land-buying opportunities, which will improve our operating results in 2010...Read Full Story

NEW YORK (Reuters) - Top-five homebuilder Lennar Corp <LEN.N> reported a narrower-than-expected quarterly loss on Wednesday, helped by higher prices and lower expenses, and said it is on track to be profitable in fiscal 2010.Miami-based Lennar reported a first-quarter loss of $6.5 million, or 4 cents per share, compared with a loss of $155.9 million, or 98 cents per share, a year earlier.On average, analysts had expected a loss of 30 cents per share, according to Thomson Reuters I/B/E/S.Revenue...Read Full Story

June23 (Reuters) - Homebuilder Lennar Corp <LEN.N> posted a smaller quarterly profit on Thursday as home prices fell, forcing builders to take charges for writing down land inventory.The third-largest U.S. builder reported earnings of $13.8 million, or 7 cents a share, compared with earnings of $39.7 million, or 21 cents per share, a year ago.Sales of previously owned U.S. homes hit a six-month low in May and supply rose, the National Association of Realtors said on Tuesday, an indication of...Read Full Story

Todays trade is a Short Swing Position in Lennar Corporation Class A Comm. Lennar Corporation, together with its subsidiaries, operates as a home builder and provider of financial services in the United States. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, and multi-level residential buildings, as well as the purchase, development, and sale of residential land directly and through unconsolidated entities. (Business...Read Full Story

TOPTENnewhomecommunities.com COMING SOON: Destinations at Vineyard Point by Lennar Homes Quick Links   See Destinations Search TopTen See All Listings Destinations Type: Single Family Location: Sacramento, CA Starting Price: $155,500 Bedrooms:# 2-3 Baths:# 2 Sq.ft:# 996 -1,314 sq.ft. Styles: Family, GreenRead Full Story