Stocks in the news: Lennar, General Motors, Ford


Lennar (LEN) reported its loss widened 77 percent during the first quarter, to $155.9 million, though orders fell less steep than analysts had forecast. Home deliveries and new orders plunged despite stepped-up buyer incentives. Revenue plunged by about 44 percent to $593.1 million, but exceeded estimates by Thomson Reuters. Shares gained 2.6 percent in pre-market trade.

General Motors (GM) shares are recovering somewhat from their decline Monday after President Obama appointed an auto czar Monday who will focus on funneling federal funds to people and places hurt by the auto industry meltdown. The White House said rejected GM and Chrysler's restructuring plans, saying they would have to do more in order to receive further aid and forcing out GM's chairman Rick Wagoner. The new CEO will have his work cut out for him. Meanwhile, many are accusing Obama for being harder on the automakers than on banks and insurers.