Winners and Losers: Harry Winston
The company now expects revenue between $240 million and $250 million in the quarter ending March 31, down from its prior forecast for a range of $255 million to $275 million. That's a 13% to 17% revenue decline from the $288 million it posted in last year's fourth quarter.
Homebuilder Hovnanian Enterprises' (HOV) shares fell 15% to $1.18 a day after Reuters reported that the Red Bank, N.J.-based homebuilder's cash burn jeopardized the repayment of a $100 million bond due in January.
Hovnanian reported a loss of $178.4 million in the first quarter that was worse than analyst expectations.
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