Business Services Industry

Past & Future.(In the Markets)(Hovnanian Enterprises Inc.)(Brief Article)

Crain's New York Business, January, 2006

This is not shaping up to be Hovnanian's year. Already off over 30% from its late-July highs, the homebuilder got hammered last week, dropping 3% on data showing a big fall in sales of existing houses and some softness in the prices of new homes. Analysts are predicting that after a long string of hefty earnings gains, the company's next quarterly report will show a slight dip.

Another week, another $10 tacked on to the share price of fund manager BlackRock, which closed on Friday at $133.12--nearly double its summer level. Investors are betting that the company will be bought by Morgan Stanley. But BlackRock could merely replace its existing majority owner, PNC. In November, Avon's chief executive, Andrea Jung, called 2005 "a year of many disappointments.''...

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