HOV misses earnings..

Discussion in 'Trading' started by Trend Fader, Sep 7, 2005.

  1. 4:42pm 09/07/05

    Hovnanian net rises 34% (HOV) By John Spence
    BOSTON (MarketWatch) -- Hovnanian Enterprises Inc. said after the closing bell Wednesday that third-quarter net income for the three-month period ended July 31 rose to $116.1 million, or $1.76 a share, from $86.7 million, or $1.33 a share in the year-ago period. Analysts polled by Thomson First Call had expected earnings of $1.78 a share. Shares of Hovnanian gained $1.20 to $61.59 on Wednesday.

    -- stock is getting crushed in AH
  2. Saw on the DJ newswire yesterday afternoon that UBS said HOV's recent underperformance was a "buying opportunity". Why on earth do brokers take these big chances, issuing recommendations hours before an earnings report?
  3. MDC now too.