Shares of Lennar Corporation (NYSE: LEN) rose
sharply on Wednesday after the Miami, Florida-based company announced its
fourth-quarter financial results. The company reported fourth-quarter revenue
of $816.5 million, representing an increase of 13% over the same period in the
previous year.
Lennar Corporation shares rose to a new 52-week high
of $22.53 on Wednesday. The stock ended the day more than 7% higher on above average
volume. The rally has pushed Lennar shares above their 50-day and 200-day
moving averages.
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