Consumer Cos Up as Lennar Report Lifts Builders -- Consumer Roundup

Shares of retailers and other consumer companies rose after a strong home-sales report was followed by robust home-builder earnings report. Lennar, the nation's largest home-builder by sales, said strong demand for new homes and higher selling prices drove earnings growth in the most recent quarter. That came a session after a report that new-home sales rose last month, quelling concerns rising mortgage rates and home prices would weigh on demand. Harley Davidson shares were more or less flat after President Donald Trump slammed the motorcycle maker's disclosure that it would move production to Europe to avoid tariffs. American Campus Communities struck a deal with Walt Disney to build and own a $615 million housing development outside Orlando, Fla., using the college-housing model to accommodate trainees in Disney programs. An increase in concerns about the economic outlook weighed on the Conference Board's index of consumer confidence, dragging it down to 126.4 in June from 128.8 a month earlier.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 26, 2018 16:37 ET (20:37 GMT)

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