(EMAILWIRE.COM, March 03, 2010 ) Dallas, Tx - Hovnanian Enterprises, Inc. (NYSE:HOV) rallied 6.05% to $4.21 after the home builder said it swung to a quarterly profit thanks in part to a tax refund of nearly $300 million. "A positive surprise this quarter came in lower impairments," said Deutsche Bank analyst Nishu Sood in a note on Hovnanian's results. The builder late Tuesday said fiscal first-quarter pretax land-related charges were $5 million, including land impairments of $3.3 million and write-offs of predevelopment costs and land deposits of $1.7 million, versus $132 million of land charges in the year-ago period.
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China BAK Battery Inc. (NASDAQ:CBAK) climbed up 7.66% to $2.53. The stock has a 52-week range of $0.86-$5.22. China BAK Battery, Inc. (China BAK) is a manufacturer of rechargeable lithium-based battery cells. The Company produces battery cells that are the principal component of rechargeable batteries used to power the applications, such as cellular phones; notebook computers; portable consumer electronics, such as digital cameras, portable media players, portable gaming devices and personal digital assistants (PDAs), and other applications, such as cordless power tools, mining lamps, light electric vehicles and hybrid electric vehicles.
RINO International Corporation (NASDAQ:RINO) spurted 7.20% to $23.52. The stock has a 52-week range of $2.00-$35.15. RINO International Corporation, formerly Jade Mountain Corporation, incorporated in 1984, is engaged in the business of environmental protection and remediation. The Company's business consists of designing, manufacturing, installing and servicing wastewater treatment and flue gas desulphurization equipment principally for use in China's iron and steel industry, and anti-oxidation products and equipment designed for use in the manufacture of hot rolled steel plate products.
SmartHeat Inc (NASDAQ:HEAT) rose 9.22% to $13.50. The stock has a 52-week range of $4.11-$18.60. SmartHeat Inc. (SmartHeat), formerly Pacific Goldrim Resources, Inc., is engaged in the manufacturing and sale of plate heat exchangers (PHEs) and various packages, thermometer testing devices and heat usage calculators through its wholly owned operating subsidiary in China.
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