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09/27/09
Lennar posts wider loss, but shares rise
Filed under: General, Real Estate, Finance
Posted by: Lillian Wong @ 12:07 pm

NEW YORK (Reuters) - Lennar Corp (LEN.N), the No. 2 U.S. home builder, said on Thursday its fourth-quarter loss widened, orders for new homes fell 50 percent, and that the ailing U.S. housing market could worsen in the near term.

 

But the company’s shares rose nearly 8 percent as analysts said Lennar was very successful paying down its debt, and generating cash to be in good position when the market turns.  more…



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