0.23%XLF 25.99 0.04%QQQQ 48.21 0.39%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
MIAMI (AP) - Homebuilder Lennar says it swung to a loss in the first quarter as sales of new homes sank and average selling prices declined.
| LEN | 18.41 |  0.05 |
The Miami-based company reported a loss of $88.2 million, or 56 cents per share, compared with profit of $68.6 million, or 43 cents per share in the year ago quarter.
The result is better than estimates on Wall Street, where analysts polled by Thomson Financial projected a loss of $1.07 per share.
Sales fell 62 percent to $1.06 billion from $2.79 billion in the year-ago period. The average selling price fell 8 percent.
Chief Executive Stuart Miller says increased foreclosures and lower consumer confidence have "quieted demand" among potential buyers.
Seven middle-aged Spanish moms who posed for a tongue-in-cheek erotic calendar ...
Merrill Lynch & Co's head of structured finance and investments Michael Blum is leaving the company as the brokerage scales back its sec...
Jackie Chan and Jet Li's first movie together is a hit in China. There were concerns whether "The Forbidden Kingdom" would appeal to Chinese beca...
|
Professional Website Design For Corporate - Get a Free Quote Today
Find the most up to date research from leading investment firms to make the most informed investing decisions
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
