Stocks to Watch: Hovnanian, Ancestry.com (Update 1)

NEW YORK -- Homebuilder Hovnanian ( HOV) is expected by analysts to report a fiscal second-quarter loss Wednesday of 32 cents a share in the April-ended period on revenue of $299 million.

Shares of Hovananian rose 1.18% in premarket trading Wednesday to $1.72.


Ancestry.com ( ACOM) is weighing a sale and is working with Frank Quattrone's Qatalyst Partners LLC to find buyers, Bloomberg reported, citing a person with knowledge of the situation.

The family-history research Web site Provo probably will attract interest from private-equity firms, said the person. Ancestry.com has a market capitalization of about $964 million, according to Bloomberg.

Shares of Ancestry.com climbed 24.17% in premarket trading Wednesday to $28.10.

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Brown-Forman ( BF.A), the maker of premium alcoholic beverages, is expected by analysts Wednesday to post fiscal fourth-quarter earnings of 76 cents a share on revenue of $777.2 million.


Diageo ( DEO) , the biggest drinks company in the world, said it plans to invest 1 billion pounds ($1.55 billion) to expand production of Scotch whisky.

Diageo will build a major new distillery and expand several of its existing distilleries.

Shares of Diageo rose 2.12% in premarket trading Wednesday to $95.90.

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Home Depot ( HD), the home-improvement retailer, increased its fiscal 2012 share buyback program by $500 million to $4 billion.

The company also reaffirmed its fiscal 2012 sales and earnings per share projections -- sales are expected to increase 4.6% this year and earnings are slated at $2.90 a share, an increase of about 17%.


Credit card company MasterCard ( MA) announced Tuesday that its board approved a new $1.5 billion share repurchase program.


Coinstar ( CSTR) announced Tuesday that it has an exclusive agreement with Seattle's Best Coffee, which is part of Starbucks ( SBUX), to have about 500 kiosks serving Seattle's Best Coffee by the end of the year in grocery stories and other retail spots.


Mattress Firm Holding ( MFRM) fell short on revenue in its fiscal first quarter and gave a below-consensus top-line outlook Tuesday for its second quarter.

The company posted a profit of $9.7 million, or 29 cents a share, on sales of $209.8 million for the three months ended in April; analysts forecast earnings of 25 cents a share on revenue of $212.1 million.

Mattress Firm also said it expects revenue of $270 million to $275 million for the July-ending quarter, below the $278.3 million that analysts forecast.

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-- Written by Joseph Woelfel

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