Beat Street: Hovnanian and PDL BioPharma (NYSE:HOV),(NASDAQ:PDLI)

Hovnanian Enterprises, Inc. (NYSE:HOV) posts Fiscal Q1 EPS of $2.97, although it may not be comparable to consensus of -$0.45 since as a result of tax legislation changes, the after-tax net income included a federal income tax benefit of $291.3 million.  Revenue was listed at $320M (-15%) vs. $319M.  After hours shares:  $4.10, +$0.13 (3.27%). More information.

Hovnanian Enterprises, Inc. is a homebuilder in the United States. The company designs, constructs, markets, and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, and active adult homes.

PDL BioPharma Inc. (NASDAQ:PDLI) misses by $0.02 with Q4 EPS of $0.17. Revenue was listed at $58.3M (-15%) vs. $70.3M for Q1 2009. Shares are up a couple pennies after hours (following a larger sell-off during regular hours) to $6.95 +$0.04 (0.58%). More information.

PDL BioPharma, Inc. engages in the management of antibody humanization patents and royalty assets, which consist of its Queen patents and license agreements with various biotechnology and pharmaceutical companies.