Market Currents

• Thursday, December 17, 2009

• 12:21 PM Homebuilder Hovnanian (HOV -6.4%) doesn't expect to be profitable until after 2010, says CEO Ara Hovnanian in discussing a "year of transition" ahead. The company reported its 13th straight quarterly loss Wednesday. Comment!
• 09:00 AM Premarket gainers: FUN +24%. APWR +7%. DPTR +5%. PIR +4%.
  Losers; YONG -10%. C -9%. HOV -8%. SQNM -7%. LYG -7%. BQI -6%. EZCH -6%. FRE -6%. PCS -5%. AIB -5%. BCS -5%. FNM -5%. HOG -5%. LDK -4%. AEM -4%. CNO -4%. AU -4%. FDX -4%. DB -4%. Comment!

• Wednesday, December 16, 2009

• 16:40 PM Hovnanian (HOV): FQ4 EPS of -$3.21 misses by $1.81. Revenue of $437M (-39%) vs. $454M. Shares -9% AH. (PR) 2 Comments
• 11:28 AM Housing starts were only slightly above expectations, but homebuilders are trading higher, with Beazer Homes (BZH) up 10.3% and Hovnanian (HOV) up 8.4%. (ETF: XHB +1.7%) Comment!
• 00:10 AM Notable post-market earnings: HOV, PAYX Comment!

• Wednesday, November 11, 2009

• 09:00 AM Premarket gainers: CHLN +42%. TOL +7%. ING +6%. RFMD +5%. MPEL +5%. HOV +5%. ALU +4%. MBI +4%. HL +4%. GSS +4%. ABK +4%.
  Losers: HEB -14%. IRE -5%. M -4%. CVM -4%. Comment!

• Wednesday, November 4, 2009

• 15:39 PM Hovnanian (HOV) firms up its succession, naming Ara Hovnanian (son of founder Kevork Hovnanian, who died in September) chairman of the board. Comment!

• Monday, October 5, 2009

• 09:00 AM Premarket gainers: VG +21%. BRCD +14%. INO +8%. VIP +7%. MTW +7%. EGI +6%. NMR +6%. HOV +5%. CNO +4%. WFC +4%. COF +4%. FNM +4%.
  Losers: none of note. Comment!

• Friday, October 2, 2009

• 09:00 AM Premarket gainers: CIT +8%. HEB +4%.
  Losers: AEG -8%. PCX -7%. HOV -7%. PGH -7%. ING -6%. AIB -6%. FIG -6%. MGM -6%. CVM -6%. LVS -5%. LYG -5%. RTP -5%. FRE -5%. ALU -5%. CNO -4%. SYN -4%. F -4%. FNM -4%. AMD -4%. RF -4%. ABK -4%. HIG -4%. SVA -4%. MU -4%. NOK -4%. Comment!

• Friday, September 25, 2009

• 13:30 PM Hovnanian (HOV -3.1%) founder and chairman Kevork Hovnanian has died at 86, and the company hasn't indicated succession plans. The company is now run by his son Ara, who is president and CEO. 1 Comment

• Tuesday, September 22, 2009

• 09:00 AM Premarket gainers: AIG +12%. DNN +9%. KMX +7%. HL +6%. HOV +6%. M +5%. FNM +5%. FRE +5%. NG +5%. CVM +4%. CIT +4%. CCL +4%. SLW +4%. ABK +4%. SOL +4%. AUY +4%. ETFC +4%.
  Losers: FSC -6%. AMR -5%. Comment!

• Friday, September 18, 2009

• 09:25 AM JPMorgan about-faces on homebuilder sector, moving its outlook to Positive from Negative. "Not only is housing solidly past its trough, but over the next 24 months will continue to recover and drive further upside to the current rally in the home-builder stocks," firm says. HOV +4.1% premarket. TOL +3.6%. KBH +3.4%. LEN +2.8%. 4 Comments
• 09:00 AM Premarket gainers: ETFC +8%. IOC +8%. AXL +5%. WNR +5%. HOV +4%. AIB +4%. RAD +4%.
  Losers: FSP -11%. NMM -7%. ARNA -6%. Comment!

• Tuesday, September 8, 2009

• 17:22 PM "Pounce Before the Bounce": Advice from homebuilder Hovnanian (HOV +2.3%), who sees the light at the end of the tunnel. 1 Comment

• Thursday, September 3, 2009

• 09:00 AM Premarket gainers: CRIS +20%. SVA +20%. HCLS +16%. FNM +12%. VICL +12%. DLM +11%. FRE +11%. CIT +7%. AIG +7%. AIB +6%. INO +6%. ABK +6%. ING +6%. ASX +6%. LYG +5%. AEO +5%. COST +5%. GPS +5%. RCL +5%. SOL +5%. NOK +5%. GNW +4%. RBY +4%. ANO +4%. HGSI +4%. DB +4%. ESLR +4%. MT +4%. SPPI +4%. DHT +4%.
  Losers: HOV -10%. FDO -8%. TSEM -7%. VG -5%. ANF -4%. Comment!

• Wednesday, September 2, 2009

• 16:34 PM Hovnanian (HOV): FQ3 EPS of -$2.16 misses by $0.64. Revenue of $387M (-46%) vs. $392M. Shares -11.8% AH. (PR) 1 Comment