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June 25, 2014
10:59 EDTHOG, BCHarley slides, Brunswick advances after ratings changes
Harley-Davidson (HOG) is falling and Brunswick (BC) is advancing after KeyBanc downgraded the shares of the motorcycle maker and upgraded the stock of the boat maker. WHAT'S NEW: There have been indications of "sluggish" motorcycle sales trends so far this year, KeyBanc analyst Brett Andress wrote in a note to investors earlier today. The trends appear to be "essentially flat," the analyst stated. Andress believes that Harley-Davidson performed better than the industry as a whole this quarter, as he estimates that the company's sales rose by low single digit percentage levels. Still, that is below the motorcycle maker's full-year guidance for a 7%-9% increase in shipments, the analyst noted. He downgraded his rating on the shares to Hold from Buy. Conversely, Brunswick should benefit from "modest, sustained momentum" in overall boat sales and a strong rebound in sales of its flagship SeaRay boats, the analyst believes. Andress cited positive registration data and anecdotes from retailers as two reasons for his optimism about the SeaRay line. Sales of the boats could double by 2017 to about $600M, he estimated. However, supply constraints may keep newer versions of the SeaRay line from coming on the market until the second half of 2014 or the first half of next year, so 2014 may be more of a transitional year for Brunswick, Andress warned. However, Brunswick's stock more adequately reflects this dynamic following its recent decline, according to the analyst, who upgraded the shares to Buy from Hold and set a $55 price target on the stock. PRICE ACTION: In mid-morning trading, Harley-Davidson dropped 1.2% to $69.85 and Brunswick gained 2% to $41.64.
News For BC;HOG From The Last 14 Days
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July 30, 2015
07:52 EDTBCBrunswick backs FY15 adjusted EPS view of $2.75-$2.85, consensus $2.84
Backs FY15 annual sales growth view of 6%-8%, consensus $4.12B. Expects to generate positive free cash flow in the range of $180M-$200M.
07:50 EDTBCBrunswick reports Q2 adjusted EPS $1.05, consensus $1.02
Reports Q2 revenue $1.14B, consensus $1.15B.
July 23, 2015
11:10 EDTHOGHarley-Davidson recalling over 185,000 motorcycles in U.S., AP reports
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July 21, 2015
09:30 EDTHOGHarley-Davidson says challenging retail environment due to price discounting
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09:21 EDTHOGOn The Fly: Pre-market Movers
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08:45 EDTHOGHarley-Davidson sees FY15 gross margin % up modestly YoY
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08:43 EDTHOGHarley-Davidson reports near double digit US retail sales growth in June
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07:08 EDTHOGHarley-Davidson sold 88,931 new motorcycles in Q2
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07:08 EDTHOGHarley-Davidson: Q2 results in line following currency pressures
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07:07 EDTHOGHarley-Davidson expects to ship 54K-59K motorcycles in Q3
In the third quarter, the company expects to ship 54,000 to 59,000 motorcycles compared to 50,670 motorcycles shipped in the year-ago period.
07:07 EDTHOGHarley-Davidson expects to ship 276K-281K motorcycles in 2015
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07:05 EDTHOGHarley-Davidson reports Q2 EPS $1.44, consensus $1.39
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July 20, 2015
15:01 EDTHOGNotable companies reporting before tomorrow's open
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14:40 EDTHOGHarley-Davidson technical comments before earnings
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12:45 EDTHOGEarnings Watch: Analysts split on Harley-Davidson ahead of report
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10:50 EDTHOGHarley-Davidson August volatility increases into Q2 and outlook
Harley-Davidson August call option implied volatility is at 40, November is at 30; compared to its 52-week range of 17 to 39, suggesting large near term price movement into the expected release of Q2 results on July 21.

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