- Lennar (NYSE:LEN) stock jumps 5.4% after the homebuilder said it will spin off its investments in startups.
- The spinoff will result in almost no operating income loss, the company's management said during its fiscal Q1 earnings call.
- The company emphasized the value of its investments in technology startups in its Q1 release.
- "In our first quarter we also saw the upside embedded in some of our technology investments. We are not only improving our core business by incorporating these technologies, but we also benefit from the economic upside of our investments in exceptional innovators," Lennar Executive Chairman Stuart Miller in the release.