Key Takeaways
- Lennar (LEN) reported Q1 2026 revenue of $6.60B, missing analyst estimates of $6.88B as delivery volumes fell 5% year-over-year.
- Six French soldiers were wounded in a drone attack at a joint Peshmerga-France base in Makhmour, Iraq, amid a widening regional conflict involving Iranian-backed forces.
- North Korea issued a sharp warning via KCNA, accusing Japan of preparing for a "reinvasion" through its deployment of long-range missile systems.
- A high-stakes meeting between Colombian President Gustavo Petro and Venezuelan Acting President Delcy Rodriguez was canceled, stalling progress on critical energy and border security agreements.
- New Zealand’s manufacturing sector maintained expansionary momentum with a February PMI of 55.0, signaling continued resilience despite global macroeconomic headwinds.
Lennar Misses Revenue Estimates Amid Delivery Slump
Homebuilding giant Lennar (LEN) reported its first-quarter 2026 financial results, revealing a revenue miss of $6.60B against the projected $6.88B. While the company saw a modest 1% increase in new orders to 18,515 homes, actual deliveries fell 5% to 16,863 units. Net income for the quarter stood at $229M, or $0.93 per diluted share.
Looking ahead, the company provided a cautiously optimistic outlook for the second quarter, forecasting deliveries between 20,000 and 21,000 homes. Executives cited a complex operating environment, likely influenced by volatile interest rates and supply chain disruptions linked to ongoing global energy instability.
Drone Strike Wounds French Forces in Northern Iraq
Security conditions in the Middle East deteriorated further on Thursday as a drone attack targeted a joint Peshmerga-French base in Makhmour, Iraq. According to statements from the Erbil Governor and security sources, six French soldiers were wounded in the strike. The incident occurs as regional tensions reach a boiling point, with Iran’s new Supreme Leader, Mojtaba Khamenei, recently calling for the immediate closure and targeting of all foreign military bases in the region.
France has recently trippled its humanitarian aid to Lebanon and maintained a steady military presence in Iraq to support counter-terrorism efforts. This attack is seen by analysts as a significant escalation by regional militias seeking to pressure Western allies to withdraw from the Middle East.
North Korea Slams Japan’s Military Buildup
Pyongyang intensified its rhetoric against Tokyo on Thursday, with state media outlet KCNA claiming that Japan’s military modernization is a precursor to a "reinvasion." North Korea specifically targeted Japan’s deployment of long-range missiles, asserting that these moves are pushing the region into a "dangerous" state of instability.
The accusations follow Japan's implementation of a $320 billion security strategy aimed at developing counter-strike capabilities. North Korea alleged that these deployments are intended for preemptive strikes rather than deterrence, warning that Japan's current path could lead to "irrecoverable" consequences.
Diplomatic Setback in South America
A scheduled Friday summit between Colombian President Gustavo Petro and Venezuelan Acting President Delcy Rodriguez has been abruptly canceled, according to sources within the Colombian President’s Office. The meeting was intended to finalize a roadmap for the Antonio Ricaurte binational gas pipeline, which would allow Colombia to import natural gas from its neighbor to alleviate domestic energy shortages.
The cancellation comes at a sensitive time for the region, following the capture of former President Nicolas Maduro earlier this year and the subsequent establishment of an interim government in Caracas. The delay in talks is expected to stall economic reactivation efforts along the 2,200-kilometer border shared by the two nations.
New Zealand Manufacturing Remains Resilient
In economic data, the BusinessNZ Performance of Manufacturing Index (PMI) for February printed at 55.0, slightly down from the revised January figure of 55.1. Despite the marginal dip, the reading remains well above the 50.0 threshold that separates expansion from contraction.
Economists noted that the New Zealand manufacturing sector has "turned the corner," with production and new orders continuing to lead the expansion. While manufacturers have reported some concerns regarding softening demand and global shipping costs, the consistent expansionary readings suggest the New Zealand economy is maintaining a steady recovery trajectory through early 2026.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.