Jim Cramer Talked About These 17 Stocks After The Fed’s Rate Cut

3. Lennar Corporation (NYSE:LEN)

Number of Hedge Fund Holders In Q3 2024: 79

Lennar Corporation (NYSE:LEN) is one of the largest homebuilders in America. Given the tight link between interest rates and the homebuilding market, the fact that its shares are down 6% is unsurprising. However, Lennar Corporation (NYSE:LEN)’s recent turmoils have contributed more to the share price fall as the stock was up a modest 12.6% year-to-date ahead of its fourth-quarter earnings. Q4 wasn’t great for the firm as its home deliveries fell by 7%, average sales price dropped to $430,000, and earnings of $4.06 missed analyst estimates of $4.16. Here’s what Cramer said about the earnings:

“Lennar was very difficult because . . . .we have. Stuart Miller who’s executive chairman just basically saying listen rates went up. What do you think [IS] going to happen when rates go up? We don’t make as much money. That was terrific, and against this, I’m going to say Darden was good, Darden, big restaurant chain, so not everything was bad last night.

“Lennar’s really a very big homebuilder in the four hundred thousand dollar range. That was a bad miss. And again, who knew that rates were going to go up when the Fed cut?!”