Hovnanian's Florida Burn
Hope is hard to come by for homebuilders these days. After Hovnanian Enterprises (HOV) warned investors that the slowdown might not be over, investors sold the stock on Mar. 9. The Red Bank (N.J.)-based homebuilder announced a quarterly loss that showed a severe fall-off in Hovnanian's Fort Myers-Cape Coral (Fla.) market and sales that continue dropping.
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