Volume Spike Investor

Lennar Corp. (NYSE: LEN) is trading lower after the homebuilder gave a wider loss after it continued to write down the value of its land and unsold homes.  While the company said that customer orders were down 8% from the prior-year period, its new orders increased each month during the quarter and the Lennar said that it ended August with the highest backlog in a year.  Shares are down close to 4% at $15.90 and we have seen about 25,000 shares trade hands at 8:40 AM EST. The broad-sector for homebuilders may follow Lennar lower, but all in all there was little surprise here. -JON OGG