Stocks in News: Schlumberger Limited, Hovnanian Enterprises, Affymax, Goldman Sachs Group

Lakeway, TX -- (SBWIRE) -- 03/18/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Schlumberger Limited.(NYSE:SLB) shares dropped 2.85% to $77.14 in the early hour. The company, on Mar. 5, introduced the DigiScope* slimhole measurement-while-drilling (MWD) service. The robust signal of the DigiScope slimhole MWD technology transmits high-quality data to surface for real-time reservoir description and geosteering in land, extended-reach and deepwater wells.

How Should Investors Trade SLB After The Recent Movement? Find Out Here

Hovnanian Enterprises, Inc. (NYSE:HOV) stock decreased 1.50% to $5.90. The company, on Mar. 6, reported first-quarter net loss of $11.3 million or $0.08 per share, from $18.3 million or $0.17 per share, in the prior year's fiscal first quarter. Analysts expected the company to report a loss of $0.10 per share for the quarter. Adjusted pre-tax loss for the quarter was $20.1 million compared with a pre-tax loss of $34.3 million during the same quarter a year ago. Total revenues were $358.2 million for the fiscal 2013 first quarter up 32.9% compared with $269.6 million in the fiscal first quarter of 2012. Analysts had consensus revenue estimate of $381.11 million for the quarter.

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Affymax, Inc.(NASDAQ:AFFY) shares increased 2.31% to $2.95. Law Offices of Howard G. Smith on Mar. 13 announces that it is investigating potential claims against Affymax, Inc. concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Affymax between December 8, 2011 and January 2, 2013 were false and misleading regarding the Company's business and financial prospects.

Additonally, on Feb.26, the company issued a voluntary recall of its only drug, an anemia treatment that competes with Amgen's top-selling red blood cell booster, Epogen.

Is AFFY a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here

Goldman Sachs Group, Inc.(NYSE:GS) shares fell 1.63% to $152.31 in the morning hour. The U.S. Supreme Court today refused to consider an appeal by subsidiaries of Goldman Sachs that sought to derail a class-action lawsuit alleging the company provided false and misleading information about mortgage-backed securities it underwrote and issued.

Additionally, the company, on Mar. 15, has appointed Steven Barg to a newly created role in New York, moving the veteran Asia equity capital markets banker to the firm's headquarters less than six months after he took on a senior role in Singapore.

How Should Investors Trade GS After The Latest Earnings Report? Find Out Here

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