On Wednesday, Shares of Hovnanian Enterprises, Inc (NYSE:HOV), gain 5.61% to $2.07.
Hovnanian Enterprises, Inc, after the homebuilder stated its fiscal 2015 third quarter earnings results recently that fell short of analysts’ estimates.
For the latest quarter, the company stated a loss of 5 cents a share on revenue of $540.6 million.
Analysts had predictable Hovnanian to report a loss of 1 cent a share on revenue of $611.95 million.
In the same quarter the previous year, the company earned 11 cents a share on revenue of $551 million.
“While we are disappointed with the loss for the third quarter, it was within the guidance we gave on our second quarter conference call,” CEO Ara K. Hovnanian stated.
Despite the earnings miss, in the recent quarter, the dollar value of the contract backlog grew 23% year-over-year, the company added.
Looking ahead, revenue for the fourth quarter of fiscal 2015 is predictable to be about $745 million, and for the full year revenue is forecast to be in the range of $2.7 billion to $3.1 billion.
Hovnanian Enterprises, Inc. designs, constructs, markets, and sells residential homes in the United States. It constructs single-family detached homes, attached townhomes and condominiums, urban infill, and active adult homes.
Finally, Zions Bancorporation (NASDAQ:ZION), ended its last trade with -1.29% loss, and closed at $28.31.
Zions Bancorporation (ZION) declared that it has named Karin Lockovitch as Director of Compliance, bringing 16 years of financial industry experience to the role.
Before her time at Zions Bancorporation, Ms. Lockovitch served as Senior Vice President and Consumer Compliance Officer for SunTrust Banks in Atlanta, GA where she had responsibility for the regulatory compliance of SunTrust’s Consumer and Small Business Banking businesses that comprised a $125 billion portfolio.
Formerly, Ms. Lockovitch served as Senior Director of Regulatory Risk Administration for Ally Financial. Ms. Lockovitch was responsible for the development of the compliance program following the GM restructure. In addition, she supported the rapid growth to a $120 billion portfolio. She has also worked for Target Bank, Lehman Brothers Commercial Bank, and American Express Centurion Bank.
Active in her community, Ms. Lockovitch is a Certified Regulatory Compliance Manager (CRCM) through the American Bankers Association and a past Chair of the Utah Bankers Association Compliance Committee. She has served on the boards of Prevent Child Abuse Utah and the 4th Street Clinic Healthcare for the Homeless.
Ms. Lockovitch began her career in finance and accounting. She holds a Bachelor of Arts degree from the University of Massachusetts, Amherst and a Master of Business Administration from the University of Utah.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.
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