News Summary

Shares of Lennar Corp LEN gained about 1.8% after the company reported a 65% drop in its fiscal second-quarter net profit. Lennar's quarterly net profit fell to $13.8 million, or $0.07 per share, from $39.7 million, or $0.21 per share, in the year-earlier period. Its revenue declined 6% to $764.5 million. Operating earnings from the group's financial services arm dipped to $2.5 million from $13.7 million. Analysts were expecting earnings of $0.04 per share on revenue of $644 million. Shares of ConAgra Foods Inc CAG fell about 3.3% after the company reported a strong year-over-year rise in its fiscal fourth-quarter net income. ConAgra's earnings surged to $254.9 million, or $0.62 per share, from $90.6 million, or $0.20 per share, in the year-earlier period. Its adjusted earnings came in at $0.47 per share. ConAgra's sales climbed 5% to $3.21 billion, from $3.05 billion. Analysts were expecting earnings of $0.48 per share on revenue of $3.19 billion. ConAgra projects FY12 earnings to rise by a low- to mid-digit rate from fiscal 2011's $1.75 per share. Shares of Bed Bath & Beyond Inc BBBY surged about 2.5% after the company reported an upbeat quarterly profit and lifted its full-year earnings forecast. The company reported its quarterly net income at $180.6 million, or $0.72 per share, up from $137.6 million, or $0.52 per share, in the year-earlier period. Its quarterly sales surged 9.7% to $2.11 billion. Analysts were expecting a profit of $0.63 per share on revenue of $2.08 billion.