Market chatter says legendary investor would take an interest in struggling homebuilder, shares rise 8 percent.
July 13 2007: 3:04 PM EDT
NEW YORK (Reuters) -- Shares of Hovnanian Enterprises Inc., the No. 6 U.S. home builder, rose sharply Friday as rumors swirled that Warren Buffett's Berkshire Hathaway Inc. would buy an interest in the struggling home builder.
"There is talk that Warren Buffett is buying a stake in Hovnanian," said Jon Najarian, co-founder of optionmonster.com. "We think such a move by Buffett would clearly signal a bottom is finally in or near this battered housing sector."
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