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Hovnanian Enterprises Inc

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  • Moody's Downgrades Home Builders to 'Junk' Thursday, 11 Oct 2007 | 11:01 AM ET

    Moody's Investors Service on Thursday cut its ratings on home builders Centex, Lennar and Pulte Homes to junk status, saying it expects bleak housing industry conditions to linger at least until 2009.

  • D.R. Horton: It's Now Down To The Highest Bidder? Wednesday, 26 Sep 2007 | 2:57 PM ET

    Forgive me for posting a little bit late today, but I’ve been waiting for a call back from the press contact at D.R. Horton all morning, and now that it’s afternoon, I’ve decided to give up. I called the company (three times) to ask for a bit more information regarding an auction of 53 new D.R. Horton-built homes in San Diego this weekend.

  • How Much Worse Can Housing Slump Get? Tuesday, 25 Sep 2007 | 3:51 PM ET

    There was more bad news for the housing sector Tuesday. Both sales and prices of existing homes continued to fall, while inventories rose.

  • Homebuilders On Shaky Foundation Tuesday, 25 Sep 2007 | 11:33 AM ET

    Homebuilders were murdered Monday. Investors appear to be anticipating more bad news when the government reports existing home sales data Tuesday. Meanwhile, industry giants Lennar (LEN) and KB Home (KBH) report earnings this week. Has the housing market bottomed?

  • Mad Mail: Did Brother Bernanke Save the Frat Party? Thursday, 20 Sep 2007 | 11:03 AM ET

    Also, an adoring fan's generous offer; Cisco's new wireless acquisition and more.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • Does the Fed Cut Save Housing? Wednesday, 19 Sep 2007 | 1:01 PM ET

    The short answer is: not today. I realize the CNBC audience doesn't need an explanation of why a Fed rate cut doesn't mean that you're suddenly saving hundreds of dollars a month on your 30-year fixed. Yes, it may slightly affect adjustable rate mortgage interest rates, and certainly some home equity lines, but the troubles in the housing market are far too vast right now to respond suddenly to a little ol' rate cut.

  • Did Ben Save Housing Market? Wednesday, 19 Sep 2007 | 10:22 AM ET

    The cracks that are the basis for this rate cut started with poor lending practices in the housing market. Did Bernanke signal that he won’t standby and let the housing slump drag us into a recession? As a result, should housing stocks be back in the ‘buy’ column?

  • Stop Trading!: Bernanke's Blessing Tuesday, 18 Sep 2007 | 3:21 PM ET

    A month ago the Fed had no idea, Cramer said. But Tuesday's surprise rate cut has redeemed the central bank.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • Hovnanian Focused On Paring Inventory, CEO Says Tuesday, 18 Sep 2007 | 11:23 AM ET

    Home builder Hovnanian Enterprises is focused on reducing its inventory of unsold homes, after a national weekend sales promotion exceeded expectations, Chief Executive Officer Ara Hovnanian said on Tuesday.

  • I don’t have any real numbers from Hovnanian yet, but the spin abounds. The head of PR for the homebuilder’s Northeast region claims it was a huge success, thousands of people visited homes and one area at least sold out. Again, I have no real numbers, and Hovnanian says they’re not releasing any numbers until tomorrow earliest.

  • Shares of Hovnanian Enterprises rose after the company said it sold more than 2,100 homes during its weekend sales campaign, according to preliminary results.

  • Hovnanian Numbers In: Why The Media Blame Game? Monday, 17 Sep 2007 | 1:51 PM ET

    Ok well I guess the jury is in and the court finds in favor of Hovnanian Enterprises. The company issued a press release this afternoon saying they had gross sales of 2100 homes over the weekend: that's 1,700 contracts with 400 deposit.

  • Greenspan "Speak" Dominates News Monday, 17 Sep 2007 | 9:09 AM ET

    Credit worries once more haunt world markets, but frankly, the only headlines that matter are the ones that will be released by the Fed tomorrow afternoon. The big story of today though is what former Fed Chairman Alan Greenspan is saying.

  • Hovnanian Says Weekend Home Sale a Success Sunday, 16 Sep 2007 | 8:03 PM ET

    Homebuilder Hovnanian Enterprises said its weekend sales blitz on some of its hottest real estate properties was a clear success but exact figures are yet to be determined.

  • Hovnanian Homes: From Upscale To Communal Living? Friday, 14 Sep 2007 | 4:53 PM ET

    I'm at a Hovnanian community in Woodbridge, VA today, covering the story of an incredible three-day sale, where the beleaguered builder is slashing prices over 100 thousand dollars. This area is new home central; bulldozers on steroids and the sound of nail guns coming at you like a bad day in Iraq.

  • Hovnanian Stages Weekend Fire Sale of Luxury Homes Friday, 14 Sep 2007 | 3:23 PM ET

    Hovnanian Enterprises  is offering six-figure discounts on some of its properties this weekend as it attempts to draw interest in a slumping market.

  • Foreclosure Bailouts? Don't Mail Out Checks Yet Friday, 7 Sep 2007 | 11:14 AM ET

    We reported some pretty nasty numbers from the Mortgage Bankers Association yesterday: A 51% rise in new foreclosures nationwide to the highest rate in the history of the MBA survey. And it’s a big bad number like that that is going to add more fuel to the fire in Washington among all those folks who have been bandying about the idea of some kind of government...

  • Hovnanian Swings to Loss as Inventories Remain High Friday, 7 Sep 2007 | 10:09 AM ET

    Hovnanian Enterprises reported its fourth consecutive quarterly loss after markets closed Thursday, as the luxury homebuilder cited continuing problems of credit availability and high inventory.

  • Homebuilders Shares Add to Losses on Foreclosure News Thursday, 6 Sep 2007 | 1:46 PM ET

    Housing stocks were mostly lower Thursday after data showed new home foreclosures hit a record high in spring, giving the sector its third consecutive day of declines.

  • Home Builders: How About A Little More Talk? Wednesday, 5 Sep 2007 | 1:23 PM ET
    Ara Hovnanian

    I couldn’t have been less welcome if I were a subprime borrower begging a bank for a jumbo loan. There I stood, in the early September heat, smack in front of the visitor's entrance of the Federal Reserve, as the CEOs of the nation’s very top home builders filed out of a meeting with the Fed Chairman. They may not have marched in lock step, but their refusal to talk to me was in dead-bolt lock step.