BUSINESS BRIEFING / EARNINGS

Lennar Corp., the second-worst performer among U.S. home-building stocks last year, fell 14% after posting a wider first-quarter loss.

The loss was $155.9 million, or 98 cents a share, compared with $88.2 million, or 56 cents, a year earlier, the Miami-based company said. That exceeded the 78 cents projected in a Bloomberg survey. Revenue fell 44% to $593.1 million.

Lennar wrote down $10.2 million for 1,100 home sites it no longer intends to build on and said new orders tumbled 28% even as mortgage rates hit historic lows.

The builder’s new orders fell in the first quarter to 2,190 units from 3,045 a year earlier and were down 37% by dollar value to $523.3 million.

Shares fell $1.20 to $7.51.