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Hovnanian Enterprises, Inc. : Wall Street Fundamentals Releases New In-Depth Stock Reports on HOV, MDC, MTH and SPF

07/08/2013 | 08:35am US/Eastern

U.S. homebuilders have experienced a pullback recently on concerns that mortgage rates would soon follow surging treasury yields. The iShares Dow Jones US Home Construction ETF (NYSEARCA: ITB) has fallen approximately 7.8 percent in the past month. On Friday, the 10-year Treasury notes jumped to 2.70 percent, the highest since August 2011, on a strong U.S. jobs report. The Labor Department reported the U.S. added 195,000 jobs June, economist had expects a gain of 165,000 according to Bloomberg. The unemployment rate remained unchanged at 7.6 percent. Here is how some homebuilders reacted Friday:

Hovnanian Enterprises, Inc. (NYSE: HOV) shares traded in the range of $5.30 to $5.61 Friday before settling to close at $5.37, a decrease of 2.72 percent. The stock appears to be facing resistance at the $5.37 and $5.74 levels with some support at $5.21. Shares of Hovnanian Enterprises are down approximately 12.5 percent in the past month.

More information on Hovnanian Enterprises and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HOV

M.D.C. Holdings, Inc. (NYSE: MDC) shares traded in the range of $29.86 to $32.39 Friday before settling to close at $29.99, a decrease of 6.65 percent. The stock appears to be facing resistance at the $31.53 and $32.54 levels. Shares of the M.D.C. Holdings are down approximately 15.5 percent in the past month.

More information on M.D.C. Holdings and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MDC

Meritage Homes Corp. (NYSE: MTH) shares traded in the range of $41.18 to $44.78 Friday before settling to close at $42.01, a decrease of 5.60 percent. The stock appears to be facing resistance at the $42.12 and $42.76 levels with some support at $40.35. Shares of Meritage Homes are down approximately 9.2 percent in the past month.

More information on Meritage Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MTH

Standard Pacific Corp. (NYSE: SPF) shares traded in the range of $7.62 to $8.18 Friday before settling to close at $7.85, a decrease of 2.85 percent. The stock appears to be facing resistance at the $7.97 and $8.31 levels with some support at $7.82. Shares of Standard Pacific are down approximately 9.8 percent in the past month.

More information on Standard Pacific and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SPF

Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.

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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.

Contact:
Wall Street Fundamentals
Website: www.WallStreetFundamentals.com
Email: editor@wallstreetfundamentals.com


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