Shares of homebuilder Lennar (LEN) ended Wednesday’s trading day with a gain of over 4 percent, making it TheStreet’s Move of the Day. Shares saw a boost after the company reported second-quarter earnings of $0.79 per share, or $0.15 higher than estimates. During the same quarter last year, Lennar posted earnings of $0.61 per share. Revenue came in at $2.39 billion, good for a 31 percent increase year-over-year. Stuart Miller, Chief Executive Officer of Lennar Corporation, said: ‘The homebuilding market continued its steady improvement throughout our second quarter. Driven by higher wages and employment, reasonable affordability levels, supply shortages and favorable monthly payment comparisons to rentals, the homebuilding market is well positioned for multi-year growth ahead.’ Home sales revenue jumped 30 percent year-over-year, to $2.1 billion during second-quarter, while new home deliveries rose to 5,989, compared to 4,976 during the same quarter last year. TheStreet’s Scott Gamm reports from New York.
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