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Hovnanian Enterprises Inc. (HOV) Shares Climb as Company Reports Q2 Profit

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Shares of Hovnanian Enterprises Inc. (NYSE: HOV), a designer, marketer and seller of single-family detached homes, attached townhomes and condominiums, mid-rise condominiums, urban infill and active adult homes in planned residential developments, are soaring in today’s trading.

At last check, the penny stock of HOV was trading 17.06% higher at $1.99, with volume up from daily average of 2.97 million to 8.78 million.

Hovnanian shares are climbing after the company reported an unexpected profit in its fiscal second quarter as orders rose 52%.

HOV reported net income of $1.8 million, or $0.02 per share for the second quarter ended April 30. This compares with a loss of $72.7 million, or $0.69 per share reported for the same period in the previous year.

Posted by on Wednesday, June 6th, 2012. Filed under Breaking News, Internet. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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