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More on Lennar (LEN): Q2 new orders +40% Y/Y, backlogs +61%. Gross margin of 22.5%, up 310 basis...

More on Lennar (LEN): Q2 new orders +40% Y/Y, backlogs +61%. Gross margin of 22.5%, up 310 basis points Y/Y. "Evidence from the field suggests that the 'for sale' housing market has, in fact, bottomed and that we have commenced a slow, steady recovery process," says CEO Stuart Miller. Shares +4% premarket. XHB +2.2% premarket.
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