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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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February 8, 2016
07:39 EDTHOGDiverse set of companies planning layoffs, pulling back spending, WSJ says
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February 5, 2016
06:23 EDTBC20 companies make alliance to keep down healthcare costs, WSJ says
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February 3, 2016
16:58 EDTHOGHarley-Davidson authorizes 20M share repurchase plan
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16:57 EDTHOGHarley-Davidson raises quarterly dividend 12.9% to 35c per share
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10:54 EDTHOGOptions with decreasing implied volatility
Options with decreasing implied volatility: WMB INVN FTNT NOW SNDK HOG UA CTXS KORS AMZN
January 29, 2016
08:54 EDTHOGHarley-Davidson price target lowered to $52 from $62 at Baird
Baird lowered its price target on Harley-Davidson to $52 from $62 following its quarter report, citing currency headwinds and the most competitive environment they have seen in years. Baird maintained its Outperform rating on Harley-Davidson, as they see promise in plans to grow ridership, increase brand touch points and accelerate new product launches.
January 28, 2016
15:44 EDTHOGHarley-Davidson CEO says sustained low oil pressuring some customers
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09:47 EDTHOGHarley-Davidson rallies after results
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09:21 EDTHOGHarley-Davidson sees FY16 CapEx $255M-$275M
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09:19 EDTHOGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
08:50 EDTHOGHarley-Davidson saw roughly 7% CAGR to Outreach customers over last 5 years
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07:40 EDTBCBrunswick sees 2016 adjusted EPS $3.35-$3.50, consensus $3.44
The company said, "We expect our businesses' top-line performance will continue to benefit from the continuation of solid growth in the U.S. and Europe and the success of our new products, partially offset by the negative impact of a stronger U.S. dollar and weakness in certain other international markets. As a result, our plan, including the Cybex International acquisition completed on Jan. 20, 2016, reflects revenue growth rates in 2016 to be in the range of 9 to 11 percent, absent any significant changes in our global macroeconomic assumptions. In total, acquisitions are expected to account for about 5 percent of 2016's projected growth, reflecting the impact of completed acquisitions."
07:38 EDTBCBrunswick reports Q4 EPS 52c, consensus 45c
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06:59 EDTHOGHarley-Davidson sees Q1 motorcycle shipments of 78K-83K
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06:59 EDTHOGHarley-Davidson sees 2016 motorcycles shipments up 1%-3%
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06:58 EDTHOGHarley-Davidson reports Q4 EPS 22c, consensus 19c
Reports Q4 revenue $1.01B, consensus $1.03B.
January 27, 2016
14:34 EDTHOGNotable companies reporting before tomorrow's open
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11:41 EDTHOGHarley-Davidson volatility elevated into Q4 and outlook
Harley-Davidson February call option implied volatility is at 48, March is at 41; compared to its 52-week range of 19 to 49, suggesting large near term price movement into the expected release of Q4 results on January 28.
11:31 EDTHOGEarnings Watch: Analysts remain bearish on Harley-Davidson ahead of Q4 earnings
Harley-Davidson (HOG) is scheduled to report fourth quarter results before the market open on Thursday, January 28, with a conference call scheduled for 9:00 am EDT. Harley-Davidson is a motorcycle manufacturer that produces heavyweight bikes and a complete line of motorcycle parts, accessories, and general merchandise. EXPECTATIONS: Analysts are looking for earnings per share of 19c on revenue of $1.03B, according to First Call. The consensus range for EPS is 11c-24c on revenue of $972.2M-$1.08B. LAST QUARTER: Harley-Davidson reported third quarter EPS of 69c, missing analysts' estimates for 78c, on revenue of $1.32B, which beat the consensus of $1.21B. The company said that dealers worldwide sold 72,178 new Harley-Davidson motorcycles in Q3 compared to 73,217 motorcycles in the year-ago period. In the U.S., dealers sold 48,918 new Harley-Davidson motorcycles in the quarter compared to sales of 50,167 motorcycles in the year-ago period. Harley-Davidson said at the time that it expects to ship 47,000-52,000 motorcycles in Q4 compared to 47,157 motorcycles shipped in the year-ago period. Additionally, the company lowered its motorcycle shipment guidance for fiscal 2015 to 265,000-270,000, which is about flat to down 2% from 2014, a decline from FY shipment guidance of 275,000-281,000 motorcycles. The company said it expects FY15 operating margin of approximately 16%-17% for the motorcycles segment, compared to prior guidance of 18%-19% for full-year operating margin. NEWS: On its last earnings conference call, Harley-Davidson said that due to headwinds in recalls, currency and ramped up competition, its Q3 performance did not meet expectations. CEO Matthew Levatich noted that "We know we can do better, and we will." Recently, The Wall Street Journal said that Levatich plans to ramp up the company's efforts to appeal to younger adults and women in general, planning to raise its marketing spending by 65% in 2016. STREET RESEARCH: On the day after its last earnings report, several analysts were bearish on Harley-Davidson, including BMO Capital and JPMorgan, which downgraded the stock. In November, Barclays analyst Felicia R. Hendrix said the company's management is "too optimistic near-term" on a recovery. On January 21, William Blair analyst Sharon Zackfia believes Harley-Davidson's domestic retail sales trends remained soft in Q4, even as the company began to lap currency-related discounting by competitors that began late last year. Zackfia sees a low-single-digit decline in retail sales growth in the U.S. in Q4, which would be the fifth consecutive quarter of retail sales declines. Zackfia sees Harley's 2016 production growth guidance being cut to 1%-2% from 3%-5%. PRICE ACTION: Over the last three months, Harley-Davidson shares are down about 19%. In late morning trading ahead of its Q4 earnings report, shares are down fractionally.
11:17 EDTHOGStocks with call strike movement; AMZN HOG
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