Hovnanian Enterprises Down On News Of Fourth-Quarter Losses

(RTTNews) - Hovnanian Enterprises (HOV | charts | news | PowerRating) gapped open lower on Wednesday. The stock's drop comes on news that fourth-quarter losses have widened for the company as revenues declined.

The stock reached its lowest level since early December and has given back gains that it had made the previous day. Shares are down 72 cents to $7.68.

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