Notable NYSE Stock Earnings Surprises (Lennar Corporation, Discover Financial)

Lennar Corporation (NYSE:LEN) jumped 4.43% to $14.61 after  the third-largest U.S. homebuilder posted a blowout  third-quarter profit.

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The company during the quarter the company earned $ $30 million, or 16 cents a share, reversing a year ago loss of $171.6 million, or 97 cents per share, a year ago.

Revenue grew 14% to $825.0 million, as deliveries jumped 10% to 2,950 homes.

Analysts were expecting the company to report  6 cents a share on revenue of $777.5 million

However, the company said that new orders during the quarter declined 15% to 2,624 homes, and that expiration of a homebuyer tax credit hurt sales.

Discover Financial Services (NYSE:DFS) rose 5.15% to $16.37 after the company forecasted a better than expected third-quarter and full year operating income.

The company said that during the quarter its third-quarter profit slid to $260.6 million or 47 cents a share, from $577.5 million, or $1.07 a share, in the year-ago period. 

Revenue, net of Interest Expense, declined to $1.71 billion, from $1.84 billion in the year ago quarter.

Analysts were expecting the company to report 37 cents a share on revenue of 1.67 billion million.

The company said its provision for loan losses, on an adjusted basis, fell by roughly a third from the year-earlier quarter, thanks to fewer charge-offs and an improved outlook for credit performance over the next year.

Discover Financial Services (DFS) is a credit card issuer in the United States and an electronic payment services company. The Company offers credit cards, personal and student loans, and deposit products. The Company is bank holding and financial holding company.

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