Lennar (LEN) NewsBite - D R Horton (DHI) Earnings Pull Down LEN
Posted: Friday, November 20, 2009 11:40 AM EDT
By: Market Intelligence Center Staff
Lennar (NYSE: LEN) opened at $13.83. So far today, the stock has hit a low of $13.49 and a high of $13.96. LEN is now trading at $13.50, down $0.67 (-4.73%). Over the last 52 weeks the stock has ranged from a low of $3.42 to a high of $17.66. LEN shares are falling with other homebuilders after competitor D R Horton (DHI) reported a fourth-quarter loss of $231.9 million, or 73 cents per share, missing analysts' forecasts of a 30-cent loss. This could be a bad sign for LEN. Technical indicators for the stock are bullish and S&P gives LEN a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on LEN the stock seems like it could be a candidate for a February out-of-the-money bear-call credit spread above the 16 range. [ABR-Seven Summits Strategic Investments NewsBite]
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