Hovnanian Enterprises Shares Slump on Earnings, Revenue Misses

Shares of Hovnanian Enterprises (HOV) - Get Report  were down Friday, after reporting lackluster earnings for its most recent quarter. Results came in at break-even, while analysts had expected $0.06. Revenue was up 32.6 percent year-over-year to $716.9 million, missing the $732.51 million analysts were expecting. As for its fiscal 2016 guidance, the company expects revenue between $2.7 billion and $2.9 billion, while analysts were expecting $2.75 billion. TheStreet's Scott Gamm reports from Wall Street.