Homebuilder Hovnanian (NYSE:HOV) narrowed its fiscal second quarter loss compared to last year.
The company posted a net loss of $28.6 million, or $0.36 per share, vs. a loss of $118.6 million, or $1.50 per share, in the same quarter last year.
Revenue totaled $318.6 million, down from $398 million in the same quarter last year.
Analysts had expected a larger per-share loss on higher revenue.
Hovnanian delivered 1,118 homes in the quarter, 19% fewer than in last year’s Q2.
Hovnanian shares are down 12.5%.
Alpha Natural Resources (NYSE:ANR), a coal producer primarily in the central Appalachian and northern Appalachian regions is seeing their stock lower today. Currently shares are off by 6.5%.
Coldwater Creek (NASDAQ:CWTR) was downgraded by Jessup & Lamont to hold from buy today. Yesterday the company posted net sales of $243.1 million, compared with $228.4 million in the fiscal 2009 first quarter, missing analyst expectations. Coldwater also said that they expect to report a loss in the second quarter of fiscal 2010.
Shares of Coldwater Creek are down over 18%.
Stifel Nicolaus downgraded shares of American Capital (NASDAQ:ACAS) to sell, due to their belief that the company will file bankruptcy based on
disappointing bondholder vote numbers released yesterday.
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