Hovnanian’s struggles persist 

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Hovnanian Enterprises Inc., the New Jersey-based homebuilder, will report up to $275 million in additional costs for the fiscal second quarter because of the national housing slowdown. Hovnanian has reported a loss for six quarters, as it cut prices to generate revenue. Its market value has fallen by 52 percent over the past year to $727 million. The company’s net contracts for the fiscal second quarter dropped 29 percent from a year ago to 2,226 homes. 

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