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Hovnanian Enterprises Inc. Message Board

  • buy_side buy_side Jan 27, 1999 11:18 PM Flag

    Move to Value - FRTG

    I think HOV is headed down from here. Take a look
    at FRTG, this home builder has a P/E below 3.5 and
    will be announcing record closings and revenue in less
    than six weeks. Stock has dropped significantly during
    last 3 months as a result of several original insiders
    liquidating their positions. Is there better value out there
    in this sector?

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    • Rate Fears Ease As Labor Costs Nudge Up

      By Knut Engelmann

      WASHINGTON (Reuters) - The
      pay and benefits of U.S. workers rose moderately in
      third quarter, the government said Thursday in a
      report that soothed fears of aggressive
      increases in
      key interest rates in the months ahead.

      Labor Department said its closely watched Employment
      Cost Index, the broadest
      measure of what U.S.
      employers pay their workers in wages, salaries and
      benefits, rose by
      0.8 percent in the July-September
      period. That was much slower than the 1.1 percent
      seen in the second quarter of the year.

      The third-quarter gain was also below the 0.9 percent
      increase forecast by Wall Street
      economists in a
      Reuters poll.

      The report is said to be one of the
      favorites of Federal Reserve Chairman Alan Greenspan,

      who uses it as a key indicator of inflation pressures
      in the world's largest economy.

      ``The bottom
      line is the ECI is the most important number here and
      it was very well behaved,''
      said Joshua Feinman,
      chief economist at Deutsche Asset Management

      Markets Rally

      Bond and stock prices
      rallied after the report, which investors said greatly
      reduced the
      chances of a prolonged series of U.S.
      rate rises into the year 2000.

      The price of
      the inflation-sensitive 30-year U.S. Treasury bond
      was up more than a full point
      in late morning
      trade. U.S. stock prices surged, as did prices on key
      European exchanges, and
      the dollar firmed against key

      Many economists still expect the Federal Reserve
      to nudge up borrowing costs for a third time

      this year when policymakers meet on Nov. 16. But
      beyond that, the case for further rate
      increases is
      widely regarded as much less clear-cut.

      Fed could still tighten, but we were looking for the
      worst and we didn't get it,'' said Kevin
      money market economist at Morgan Stanley, Dean Witter &

      Workers' wages and salaries rose 0.9 percent,
      down from a gain of 1.2 percent in the previous

      quarter, the report said. Benefit costs rose 0.8 percent
      in the third quarter, following a 0.9
      gain in the previous three-month period.

      volatile category of finance, insurance and real estate,
      posted a 1.2 percent increase, far
      below the sharp
      3.0 percent jump in the second quarter that had been
      fueled by a booming
      real-estate market.

      the 12 months ended in September, overall labor costs
      were up 3.1 percent, below the 3.2
      reported for the year to June and significantly lower than
      the 3.7 percent in the year to

      Economists said the news was particularly
      reassuring in light of news that U.S. growth roared
      over the summer after a lull in the second quarter.
      According to preliminary data, the
      economy grew by 4.8
      percent in the July-September period, up from a modest
      1.9 percent in
      the second quarter.

      viewing (the report) as an exceptionally good figure on
      labor costs,'' said Michael Moran,
      chief economist
      at Daiwa Securities America Inc.

      ``It's not
      breaking out of the range that we've seen in the last year
      or two. It's implying that
      inflation is still
      likely to stay in check and that there are no problems
      emerging on the wage and
      price side at this time,''
      Moran added.

    • Floyd wiped out enough homes in HOV territory to boost building and sales in the forseeable future.

    • 11:43 Reports .40 diluted for Q3.

    • This Does Not Look Good!

      It looks great! Ever say to yourself, "If I could just see 3 or 4 points on 3 or 4 trades a week?"

    • Dear Mike9505, interesting to hear this. Could it
      be that Khov is having internal management problems?
      Seems that they cannot provide a consistent quality
      product. There was a picketer in VA too. They put a sign
      in their back yard saying "Khov Lemon".

      heard that Washington Homes has purchased all of the
      undeveloped lots in a VA community from the seemingly
      struggling Khov/PC Homes duo.

      I think it is so funny
      how all of the sudden there are Khov stock pumping
      emails posted around these "Lemon" postings. Who are
      they kidding! Please post any new news you may have.

    • I've heard a rumor that there is a house in one
      of Hovnanian's VA communities that has a big sign in
      their yard stating, "My house is a Khov lemon". Sounds
      like a very upset customer. Does anyone know anything
      about this?

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