Summary of This S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
Summary of This S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
Lennar, a S&P 500 component, reported a 10% growth in earnings and an 8% increase in revenue for the third quarter, but average sales price per home decreased by 6%. The company's stock fell 3.5% after the market closed, despite the Federal Reserve cutting interest rates, which is expected to boost the housing market.
quoting nevent1q…c02tThis S&P 500 Stock Falls On Earnings Despite Expected Tailwind From Fed Rate Cuts
https://www.investors.com/news/sp-500-stock-lennar-earnings-fed-rate-cut-tailwind/?src=A00220&yptr=yahoo
Lennar, a S&P 500 component, reported a 10% growth in earnings and an 8% increase in revenue for the third quarter, but average sales price per home decreased by 6%. The company's stock fell 3.5% after the market closed, despite the Federal Reserve cutting interest rates, which is expected to boost the housing market.