Hovnanian's stock rallies after results show improved gross margin percentage
Shares of Hovnanian Enterprises Inc. rallied 1.5% in early morning trade Thursday, after the home builder reported fiscal fourth-quarter gross margin percentage that improved, and profit and sales that fell less than some analysts had expected. Net income for the quarter to Oct. 31 declined to $11.8 million, or 8 cents a share, from $22.3 million, or 14 cents a share, in the same period a year ago. Revenue decreased 10% to $721.7 million. The average of two analysts surveyed by FactSet was for... Читать дальше...
