Volume in Focus: Hovnanian Enterprises, Discover Financial Services, Fabrinet, Valero Energy Corporation

Lakeway, TX -- (SBWIRE) -- 03/16/2013 -- 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:-

Hovnanian Enterprises, Inc. (NYSE:HOV) stock climbed 2.23% to $5.97. 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.

How Should Investors Trade HOV The Recent Movement? Find Out Here

Discover Financial Services(NYSE:DFS) shares gained 2.66% to $43.99. Discover Financial Services (DFS) and Interswitch Limited, on Mar. 12, announced a strategic alliance that will allow acceptance of Discover and Diners Club International (DCI) cards at Interswitch-enabled ATM and point-of-sale (POS) terminals for purchases in Nigeria. It will also allow Verve cardholders to have access to Discover, Diners Club International and PULSE networks for international purchases and cash access outside of Nigeria.

Is DFS Strong Buy After The Recent Strong Gains? Get Free Trend Analysis Here

Fabrinet(NYSE:FN) shares dropped 2.92% to $14.29 after the company today announced that an underwritten public offering of 3,800,000 ordinary shares offered by selling shareholders has been priced at $14.00 per share. The offering is expected to close on March 20, 2013, subject to customary closing conditions. Fabrinet will not sell any ordinary shares in the offering and will not receive any of the proceeds from the offering.

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

Valero Energy Corporation(NYSE:VLO) shares gained 1.89% to $44.67 . VLO‘s stock had its “buy” rating restated by analysts at TheStreet in a research report issued to clients and investors on Mar. 14. Additionally, analysts at Macquarie downgraded shares of Valero Energy from an “outperform” rating to a “neutral” rating in a research note to investors this week.

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

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