Finance Matters

Posts Tagged ‘shares’

Lennar Corporation announced its Q4 financial results earlier this morning.

The company said year-over-year revenues for Q4 jumped 11% $952.7 million.  Though operating income and EPS were down on higher expenses.  EPS came in at $0.16, which was a penny shy of expecations. However, estimates ranged from $0.03 to $0.33.

Shares of Lennar are up around 4% this morning.

“As we come to the end of 2011 and head into 2012, we have seen the market start to stabilize, driven by a combination of low home prices and low interest rates, making the decision to purchase a new home more attractive, compared to the heated rental market,” said Lennar CEO Stuart Miller. “These factors are reflected in our new orders and sales backlog, which increased 20% and 35%, respectively, from the prior year quarter.”

Lennar is one of the largest homebuilders in the U.S.

Next up among homebuilders is Pulte, which will post Jan. 27.  

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Earlier:
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Bauman discusses a number of topics. He has spent the last 5 months in China – see his earlier video here on the Chinese housing bubble – and he thinks the Chinese economy is “not slowing down”.

Some humor (the knock knock joke at the end is pretty funny – especially the goof by the interviewer).

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A man named Davis Remmel has hacked together a Siri-enabled rotary phone. He shares the following video on his blog, and well as a step-by-step breakdown on how he built the phone.

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Groupon will price at $20 per share tomorrow, letting it raise about $700 million from its IPO.

Kara Swisher at AllThingsD got the scoop. Earlier this week, other news sources suggested that Groupon was going to raise its IPO price by a buck or two over the originally planned $16 to $18.

Swisher also reports that the IPO was oversubscribed by 10 times, and that Groupon will add 5 million shares to bring the total to 35 million.

The real question is how long demand will remain that high once the stock is out of the gate. Just because it’s oversubscribed by 10x at a price of $20 doesn’t say how long demand will remain that high when the stock goes to, say, $25.

Here’s everything you REALLY need to know about the Groupon IPO.

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Apple has been building one of its largest flagship stores to date in Grand Central Station in New York City. It’s still in the middle of construction right now, but a tipster tells 9to5Mac that the store will be open on Black Friday or even sooner.

9to5Mac also shares this video of what’s going on behind the scenes. Right now it’s blocked off from public access, but they were able to get in to check out what the construction looks like.

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