BOSTON (MarketWatch) -- The SPDR S&P Homebuilders ETF was up nearly 3% Thursday morning after a realtors group said pending home sales rose 5.2% in July from the previous month's downwardly revised levels. Hovnanian Enterprises Inc. shares were up 6.5% after the builder reported a smaller fiscal third-quarter loss late Wednesday. Beazer Homes USA Inc. added 5%, Standard Pacific Corp. rose 3% and D.R. Horton Inc. gained 2.8%. 2010 09 02 11:04
RED BANK, N.J., Sept. 1, 2010 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE:HOV), a leading national homebuilder, reported results for its third quarter and nine months ended July 31, 2010. 2010 09 02 07:46
SAN FRANCISCO (MarketWatch) -- Hovnanian Enterprises late Wednesday reported its fiscal third-quarter loss narrowed to $72.9 million, or 92 cents a share, from a loss of $148 million, or $2.61 a share, in the same quarter last year. Revenue at the home builder fell to $380.6 million from $387.1 million. Analysts surveyed by FactSet had forecast a loss of 47 cents a share on revenue of $396.1 million. Home-building gross margin, before interest expenses included in cost of sales, rose 17.1% compared with 9.1% increase a year ago. The company ended the quarter with 183 active selling 2010 09
Are all spec plays in the homebuilder space created equal? Let's look at Beazer Homes (BZH) and Hovnanian Enterprises (HOV), two tortured homebuilders who once commanded huge market caps and have since been reduced to lowly microcap stocks. BZH and HOV each have about a $300 million market cap and trade at $3.98 and $3.86 respectively. They've traded in lockstep the last 2 years. However, the bond market sees the companies from...
Just when you thought the housing market couldn't get worse, it did.
New single-family home sales slumped 12.4% in July to a record-low annual rate of 276,000 units, as homebuyers shunned their realtors in the absence of government support. The consensus expectation was for a slight up-tick to a 333,000 unit annual rate, so I suppose it's time to throw out the models. Sales over the prior three months were also revised lower by 9,000 units.
The shockingly low rate of New Home Sales in July needs to be put into context (see "Worst New Home Sales EVER!"). The only problem is that the context only makes things seem worse than the raw numbers do.
Tuesday's report by the National Association of Realtors was so bad that the pace of sales fell outside the range of 70+ economists forecasts, needless to say missing the consensus estimate. We have been talking about the REAL real estate market for sometime now, and finally, we see consensus opinion finding its way to our view of thinking about real estate, the economy and the stock market.
Tuesday's report by the National Association of Realtors (NAR), a biased organization mind you, could not contain...
There was a disconnect Tuesday and perhaps it was simply that the homebuilders have been beaten down so much than even bad news can’t hurt them at this point (click to enlarge).
New home sales data came out this morning, and it was even worse than expected, on top of a revised and reduced home permit number. New home sales were 276,00, well below consensus estimates of 343,00. Inventories rose and prices fell to roughly $181,000, a sharp drop from a year ago. What mystifies me is how anyone who lives in this country – perhaps on the planet – could be surprised by this number.
Yesterday's existing home data was ugly. It was coyote ugly. It was so bad that forecasters would probably be willing to chew off a foot to be able to get out from under their predictions. Yesterday's data indicated that the pace of existing home sales, a seasonally adjusted annual rate of 3.83 million. Many expected the pace of home sales to decline now that the home buyer stimulus programs have expired, but the decline reported yesterday indicates the real estate market is severely impaired. A glut of homes, more restrictive lending standards and a...
It's beginning to look a lot like acquisition season these days with the high-profile negotiations between BHP Billiton (BHP) and Potash (POT), and Intel (INTC) and McAfee (MFE), among others. And why not? We've seen it coming as the market feels out a bottom and large corporations sit on large piles of cash. Like the NBA this summer, this year could be one for the record books...
Hovnanian Enterprises, Inc. (NYSE: HOV) jumped up by 3.87% to close at $4.03 with overall traded volume of 2.45 million shares. The share price is highly sensitive as its beta value stands at 3.16 ...
By SARAH A. WORTH K. Hovnanian Homes has always focused on giving customers what they want, starting with building quality homes in ideal communities and at affordable prices. But not being able ...
NEW YORK (Market Intellisearch) -- HOV options saw interesting call activity today. A total of 475 put and 1,927 call contracts were traded raising a low Put/Call volume alert. Today's traded Put ...
Hovananian Enterprises Inc. (NYSE: HOV) released their 3Q results yesterday indicating that sales pace improved modestly throughout the quarter while pricing remains steady. In a report relased by ...
Below are the top 10 Home Building/Services stocks with the highest short interest as a percentage of total shares outstanding. Short Squeeze and Short Covering can cause these stocks to rise ...
(EMAILWIRE.COM, September 03, 2010 ) New York, NY-Sycamore Networks, Inc. (NASDAQ:SCMR) soared 21.06% to $26.90 on over 2.59 million shares. The company reported that it swung to a fiscal fourth ...
Hovnanian Enterprises Inc. (NYSE: HOV) saw its stock rise 5.43% closing Thursday at $3.88 on above-average volume of 3.66 million shares. The New Jersey-based homebuilding company reported a ...
NEW YORK (Market Intellisearch) -- Hovnanian Enterprises options saw high put activity today. A total of 2,301 put and 716 call contracts were traded raising a high Put/Call volume alert. Today's ...
US stocks climbed on Thursday as an unexpected jump in pending home sales lifted sentiment ahead of Friday's crucial non-farm payrolls data. The Dow Jones Industrial Average rose 50.63 points, or ...
By Seeking Alpha 09/02/10 - 05:33 PM EDT Good morning and thank you for joining us today for Hovnanian Enterprises fiscal 2010 third quarter earnings conference call. An archive of the webcast ...
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