Diamonds and Dogs
10/23/12
DuPont De Demours Company (DD)DuPont is rotting away today, down 9.10% at $45.23. The science and technology company (mostly noted for their hybrid corn and soybeans), saw its shares crash after a terrible earnings report. DuPont announced that its third quarter net income fell to $10 million or $0.01 per share, compared to $452 million or $0.48 per share, a year ago. Furthermore, the company reported that revenue from continuing operations fell 9 percent to about $7.4 billion. DuPont said it will cut about 1,500 jobs over the next 12 to 18 months as part of a restructuring expected to result in pretax savings of $450 million. The company is trading just a few dollars above its 52-week low.
Harley Davidson Inc. (HOG)
Harley Davidson is revving its engine today, up 7.72% at $46.89. The heavyweight motorcycle maker saw its shares climb after a better than expected earnings report. Harley's profit fell 27% from a year ago to $0.59 per share, incrementally better than analysts expected. Revenue fell 11% to $1.01 billion, less than the $1.14 billion Wall Street was looking for. More positive news came from overseas sales increasing, and the company maintaining its 245,000 to 250,000 bikes shipped this year with a gross margin of 35%. Harley Davidson is trading up $3.36 today, and right in the middle of its 52-week range.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.
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