Author: Elena Todorova
123jump.com
Last Update: 11:15 AM ET September 08 2005
Homebuilders advanced after Hovnanian Enterprises posted net income of $1.76 a share for the third quarter , 2 cents below expectations. The company said it expects to post earnings exceeding $7 a share for fiscal 2005. Analysts had forecast earnings of $7.26 a share. Hovnanian slumped 6%. Toll Brothers fell 4.2%, KB Homes shed 3.1% and Pulte Homes lost 3.2%.
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