Most businesses focus on profits. The energy infrastructure companies known as master limited partnerships are all about cash.
Lennar Corp. reported a better- than-estimated third-quarter profit as margins on house sales improved and revenue grew at its distressed-investing division. The stock climbed the most in four months.
Lennar Corp., the largest U.S. homebuilder by market value, said it plans to diversify into apartments with the construction of $1 billion of multifamily properties as rental demand climbs.
"While a number of macroeconomic factors have contributed to ongoing choppiness in the recovery, with more pressure on sales prices and gross margins, we remain optimistic about the continuation of the recovery."
- Stuart Miller on Jan 15, 2015