Shares of Lennar (LEN) tumbled 5.89% in pre-market trading on Friday, as investors reacted to the company's disappointing first-quarter profit report. The homebuilding giant's stock price fell to $X.XX (replace with actual price if available) following the announcement.
Lennar, one of the largest homebuilders in the United States, reported lower profits for its first quarter, prompting a selloff in the pre-market session. While specific details of the earnings report were not provided in the available news, the market's reaction suggests that the results fell short of investor expectations.
The significant pre-market drop of 5.89% indicates that traders are reassessing their outlook on Lennar's near-term performance. Investors will likely be watching closely for more details on the company's financial results, as well as any guidance or commentary from management regarding the housing market and Lennar's future prospects.
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