Breakout

Top Tickers: Lennar Has the Demand That Walgreen Dreams Of

Breakout

Here are some top tickers the Yahoo! Finance team is watching this Tuesday afternoon.

Lennar (LEN)

Shares of the nation's third largest homebuilder are on the rise today after delivering better than expected second-quarter results.

Lennar reported Q2 earnings of $0.61 per share, almost double the $0.33 consensus estimate, thanks to a 53% jump in revenues, a 40% increase in homes delivered (to 4,449 vs. 3,192 one-year ago), and 13% increase in the average sales price to $283,000.

In a statement, Lennar said "Against the backdrop of recent investor concerns over mortgage rate increases, we believe that our second quarter results, together with real time feedback from our field associates, continue to point towards a solid housing recovery," adding that "we have seen very little impact on sales or pricing" and that "demand in all of our markets continues to outpace supply."

While the stocks is up over 3% today, it is important to note that shares of Lennar have fallen 25% in a month, and still have a shocking 30 million share short-interest ratio betting that they will fall further. CNBC's Jim Cramer called the chart "hideous" but the quarter great.

Walgreen (WAG)

Yahoo! Finance readers are actively clicking on Walgreen (WAG) today, as shares of the nation's largest drug store chain plunge nearly eight percent following a big miss on earnings.

Officially, Walgreen says third-quarter earnings per share came in at $0.85, which was a nickel less than expectations. Revenues had been pre-announced three weeks ago, but the company says same store sales - excluding the pharmacy - grew just 0.4% as customer traffic slid 4%. The prescription business, which accounts for 63% of total revenues, saw sales rise 2%

In a statement, Walgreen says that even though it increased pharmacy market share to 19.2% from 18.4% a year ago, it admits that its "front-end sales are still not up to our expectations," and suggests that "increasing customer traffic and front-end sales are our near-term priorities."

On Twitter, CNN Money blogger Paul La Monica points out that Walgreen's woes might help rivals CVS (CVS) and Riteaid (RAD).

Shares of WAG are now down for a fifth consecutive day and have shed about 13% from their 52-week high, lowering its market value to about $45 billion and also making it the worst performer of 41 stocks in the Consumers Staples (XLP) sector. Even so, the operator of over 8,000 stores is still up 20% year-to-date and 52% versus a year ago.

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