Lennar Climbs After Reporting Increase in Orders, Traffic
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Lennar Corp., the third-largest U.S. homebuilder by revenue, climbed the most in three weeks in New York trading after reporting an increase in orders and improving customer traffic amid the economic slowdown.
Orders for new homes jumped 11 percent in the three months ended Aug. 31 to 2,914, Lennar said today in its earnings statement. The Miami-based company had its sixth straight quarterly profit in the period, matching analysts’ estimates, and its shares rose 4.9 percent.