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Homebuilder Lennar Tumbles on Mixed Q4 Results as Pre-Market Losers Pile Up

MarketDash Editorial Team
6 hours ago
Lennar shares dropped nearly 4% in pre-market trading after reporting fourth-quarter earnings that beat on revenue but missed on profit. The homebuilder wasn't alone in the red Wednesday morning, joining a crowd of stocks moving lower ahead of the opening bell.

U.S. stock futures showed modest gains Wednesday morning, with Dow futures climbing around 0.2%. But not every company was sharing the optimism.

Lennar Corp (LEN) took a tumble in pre-market trading after delivering the kind of quarterly report that leaves investors scratching their heads. The homebuilder posted fourth-quarter revenue of $9.37 billion, which topped analyst estimates of $9.02 billion, according to data from MarketDash. Sounds good, right? Not so fast. The company reported adjusted earnings of $2.03 per share, missing the $2.21 consensus estimate. When you beat on the top line but miss on the bottom line, Wall Street tends to focus on the miss.

Lennar shares dropped 3.8% to $113.12 in pre-market trading as investors digested the results.

Lennar wasn't the only name moving lower before the opening bell. Here's a look at other stocks facing pre-market pressure:

AlphaVest Acquisition Corp (AMCI) plunged 19.8% to $8.26 in pre-market trading, giving back a chunk of Tuesday's 31% surge. That's the life of a volatile stock.

Kyverna Therapeutics Inc (KYTX) tumbled 19.2% to $8.27 in pre-market activity after slipping around 5% on Tuesday. The biotech company recently announced a $100 million offering, which tends to dilute existing shareholders and pressure the stock.

Bally's Corporation (BALY) declined 11.2% to $15.17 in pre-market trading.

Worthington Enterprises, Inc. (WOR) fell 8.2% to $51.65 in pre-market trading after posting its own mixed second-quarter financial results. The company also announced plans to acquire LSI Group, adding another layer to the morning's news.

Bread Financial Holdings Inc (BFH) dipped 6.3% to $71.00 in pre-market trading.

Avantor, Inc. (AVTR) slid 3.6% to $10.80 in pre-market activity.

NovaBay Pharmaceuticals, Inc. (NBY) fell 3.5% to $3.05 in pre-market trading after jumping over 16% on Tuesday. Another case of what goes up must come down.

Cementos Pacasmayo S.A.A (CPAC) declined 3.2% to $10.30 in pre-market trading. The stock had rocketed 52% on Tuesday after Holcim signed an agreement to purchase 50.01% of the company's owner, Inversiones Aspi S.A. of the Hochschild Group. Wednesday brought some profit-taking after that big move.

Sweetgreen, Inc. (SG) dropped 3.1% to $6.70 in pre-market trading.

Back to News

Homebuilder Lennar Tumbles on Mixed Q4 Results as Pre-Market Losers Pile Up

MarketDash Editorial Team
6 hours ago
Lennar shares dropped nearly 4% in pre-market trading after reporting fourth-quarter earnings that beat on revenue but missed on profit. The homebuilder wasn't alone in the red Wednesday morning, joining a crowd of stocks moving lower ahead of the opening bell.

U.S. stock futures showed modest gains Wednesday morning, with Dow futures climbing around 0.2%. But not every company was sharing the optimism.

Lennar Corp (LEN) took a tumble in pre-market trading after delivering the kind of quarterly report that leaves investors scratching their heads. The homebuilder posted fourth-quarter revenue of $9.37 billion, which topped analyst estimates of $9.02 billion, according to data from MarketDash. Sounds good, right? Not so fast. The company reported adjusted earnings of $2.03 per share, missing the $2.21 consensus estimate. When you beat on the top line but miss on the bottom line, Wall Street tends to focus on the miss.

Lennar shares dropped 3.8% to $113.12 in pre-market trading as investors digested the results.

Lennar wasn't the only name moving lower before the opening bell. Here's a look at other stocks facing pre-market pressure:

AlphaVest Acquisition Corp (AMCI) plunged 19.8% to $8.26 in pre-market trading, giving back a chunk of Tuesday's 31% surge. That's the life of a volatile stock.

Kyverna Therapeutics Inc (KYTX) tumbled 19.2% to $8.27 in pre-market activity after slipping around 5% on Tuesday. The biotech company recently announced a $100 million offering, which tends to dilute existing shareholders and pressure the stock.

Bally's Corporation (BALY) declined 11.2% to $15.17 in pre-market trading.

Worthington Enterprises, Inc. (WOR) fell 8.2% to $51.65 in pre-market trading after posting its own mixed second-quarter financial results. The company also announced plans to acquire LSI Group, adding another layer to the morning's news.

Bread Financial Holdings Inc (BFH) dipped 6.3% to $71.00 in pre-market trading.

Avantor, Inc. (AVTR) slid 3.6% to $10.80 in pre-market activity.

NovaBay Pharmaceuticals, Inc. (NBY) fell 3.5% to $3.05 in pre-market trading after jumping over 16% on Tuesday. Another case of what goes up must come down.

Cementos Pacasmayo S.A.A (CPAC) declined 3.2% to $10.30 in pre-market trading. The stock had rocketed 52% on Tuesday after Holcim signed an agreement to purchase 50.01% of the company's owner, Inversiones Aspi S.A. of the Hochschild Group. Wednesday brought some profit-taking after that big move.

Sweetgreen, Inc. (SG) dropped 3.1% to $6.70 in pre-market trading.