The Real Deal Miami

Lennar stock falls less

June 26, 2008 01:48PM

Miami-based Lennar, the second-largest U.S. home builder, reported its
fifth straight quarterly loss. It lost 76 cents a share, less than half
its loss of $1.55 a share a year ago. It was worse than Wall Street’s
consensus estimate of 68 cents a share. The stock lost 62 percent of
its value over the last 52 weeks, and Lennar has lowered prices on its
homes.