San Diego, CA 7/10/2009 11:26:29 AM
Hovnanian Enterprises - Is Better Good Enough?
Hovnanian Enterprises, Inc. (HOV) shares moved upward on Thursday, boosted by last week's decline in the number of new unemployment claims.
Hovnanian Enterprises, Inc. (HOV) shares followed other homebuilding stocks higher on Thursday, though mostly lagging the group as a whole. Positive news from the Labor Department hinted the economy is at least not getting worse, which could help spur a real estate recovery.
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While Hovnanian - Like Toll Brothers and KB Home - took losses last quarter, all three companies narrowed those losses. Housing is as affordable (relatively) as it was in 1960, which is expected to continue aiding homebuilder earnings and simultaneously increasing backlogs, which many investors consider to be a sign of strengthening results.
About Hovnanian Enterprises
Hovnanian Enterprises, Inc. (HOV), founded in 1959 by Kevork S. Hovnanian, Chairman, is headquartered in Red Bank, New Jersey. The Company is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company's homes are marketed and sold under the trade names K. Hovnanian(r) Homes(r), Matzel & Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes, Oster Homes, First Home Builders of Florida and CraftBuilt Homes. As the developer of K. Hovnanian's(r) Four Seasons communities, the Company is also one of the nation's largest builders of active adult homes.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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Source: Small Cap Network
http://community.smallcapnetwork.com/Small-Cap-Home-Builder-Stocks-Grasping-At-Straws/s/article/view/p/mid/1/id/135/
