Diamonds and Dogs
High on the Hog. Harley-Davidson (HOG) is jumping 18% on heavy volume due to chatter circulating the quiet trading desks that KKR & Co. could be interested in buying the motorcycle maker. Harley-Davidson did not immediately respond to requests for comments. Rival, Polaris Industries is jumping 5% in sympathy. Yesterday it was Hershey rejecting a takeover offer. A fitting way to end a crazy week.
Micron's down, but not out. Micron Tech (MU) dropped 9% on disappointing earnings and guidance. Weak pricing and NAND overcapacity have pushed out a rebound for Micron, but new products ramp and consistent improvement in spot pricing should improve fundamentals in fiscal 2017.