HOG - Why Harley-Davidson's Stock Rode Higher on Tuesday
Shares of Harley-Davidson (NYSE: HOG) were soaring early Tuesday morning, after the company reported first-quarter earnings. The stock had traded as much as 17% higher, and it was still trading 12% higher as of 11:30 a.m. EST. In Q1, quarterly revenue fell 6% year over year, net income dropped 46%, the quarterly dividend was slashed 95%, and worldwide motorcycle sales plummeted 18%.
Those ugly results appear incongruous with Harley-Davidson's upward stock movement. However, the company also announced it is getting back to production, and it has a sharpened vision for the future.
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