Renard Adjusts Strategy Amid Revenue Shortfall
15 minutes ago
Lennar’s stock fell on Friday after the company’s earnings report didn’t meet expectations, reflecting ongoing pressures in the housing market.
The shares dropped nearly 6% at first, making it one of the worst performers in the S&P 500 that day, even though they later regained some ground.
Lennar’s adjusted earnings and revenue were below analyst forecasts, with revenue declining over 6% year-over-year to $8.81 billion in the third quarter.
CEO Stuart Miller indicated that these results mirror the challenges posed by the current housing market while also pointing to the company’s consistent operational strategy.
He mentioned that, although high mortgage rates persisted throughout the quarter, there was a decline toward the end. He seemed hopeful that this, along with Federal Reserve cuts, might lead to a positive shift as we approach the fourth quarter. “Now could be a good time to reduce our volume to allow the market to adjust,” he noted.
So far in 2025, Lennar’s shares have dipped about 1%.
Citi Lowers Intel Stock Rating to “Sell”
1 hour 24 minutes ago
Citi’s analysts have downgraded Intel shares, moving their rating from “neutral” to “sell.”
The bank expressed skepticism about Intel’s future prospects.
An analyst stated that, while Intel’s stock climbed around 50% following developments in NVIDIA trading, they believe Intel’s foundry has lagged behind its competitors, notably Taiwan Semiconductor Manufacturing Co.
Although Intel stocks surged nearly 23% the previous day, they dipped about 1% at the opening following Nvidia’s announcement of a $5 billion investment in Intel.
– Correction: Headings and LEDs have been updated to reflect Citi’s downgrade of Intel.
Apple’s iPhone 17 Launches to Enthusiastic Demand for Pro Models
3 hours 7 minutes ago
The iPhone 17 lineup from Apple was launched on Friday, generating strong interest from customers, particularly in Europe and Asia, especially for the Pro models.
This month, Apple introduced new models, including the thinner iPhone Air and
the high-end iPhone 17 Pro and Pro Max, with the latter starting at $1,099, $100 more than the previous iPhone 16, featuring improved storage and battery life.
Analysts have given mixed reviews on the new devices. Some, like Morgan Stanley, have called the iPhone Air “a small positive surprise,” while others express a wait-and-see attitude, hoping for an update that integrates AI capabilities.
Amid Wall Street worries about tech companies sliding back in the AI race, there’s concern that even new devices are falling short—analysts are increasingly pushing wearables like smart glasses as the future of accessible technology. Furthermore, Apple is also losing ground in China to local competitors like Huawei and Oppo.
Reports suggest that demand is particularly robust for the Pro and Pro Max models, with longer lines observed in London compared to the iPhone 16 launch, and many consumers in Beijing already lining up the night before to collect their pre-orders following strong sales.
Stock Futures Stable After Record Highs
3 hours 37 minutes ago
Futures related to the Dow Jones industrial average were mostly unchanged.
S&P 500 futures saw a slight increase of less than 0.1%.
The Nasdaq 100 futures also reported a minimal uptick of under 0.1%.
