Harley-Davidson beats on earnings, revenue; lowers 2016 motorcycle shipment guidance

Harley-Davidson Inc. beat on second-quarter earnings and revenue Tuesday but lowered its 2016 motorcycle shipment guidance in a “precautionary step,” given lower U.S. sales this quarter. Earnings came to $280.4 million, or $1.55 per share, compared with $299.8 million, or $1.44 per share, in the same period a year ago. The FactSet consensus was $1.53. Revenue rose to $1.86 billion from $1.82 billion, above the FactSet consensus of $1.66 billion. The company said total motorcycle sales worldwide decreased 1.9%, which included a 5.2% drop in U.S. motorcycle sales. For 2016, the company lowered its full-year motorcycle shipment guidance from 269,000-274,000 to 264,000 to 269,000, citing “market softness in the U.S., the continued competitive environment and global economic uncertainty.” Harley-Davidson shares rose 5.4% over the last three months, compared with a 4.37% rise in the S&P 500 .

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Hershey Co. beats second-quarter earnings expectations

Hershey Co. beat second-quarter earnings expectations Thursday. The company reported net income of $146 million, or 68 cents per share, compared with a loss of $99 million, or a loss of 47 cents per share, in the year-earlier period. It reported adjusted earnings per share of 85 cents, above the FactSet consensus of 78 cents. It reported sales of $1.64 billion, up from $1.58 billion in the year-earlier period and above the consensus of $1.61 billion. The company said it expects adjusted earnings per share to between $4.24 to $4.28 for 2016. The FactSet consensus is $4.25. Shares of Hershey have gained 18% in the past three months, compared to the S&P 500’s gain of 4%

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Colgate-Palmolive shares rise after earnings beat estimates

Colgate-Palmolive Co. shares rose 0.9% after second-quarter earnings beat estimates and the company guided for an earnings gain for the year. Colgate-Palmolive reported net income of $600 million, or 67 cents per share, up from $574 million, or 63 cents per share, for the same period last year. Adjusted earnings were 70 cents per share, flat with last year and above the 69 cents per share FactSet consensus. Revenue for the quarter totaled $3.85 billion, down from $4.01 billion for the same period last year and below the $3.86 billion FactSet consensus. Foreign currency headwinds resulted in a 5.5% sales decline, Chief Executive Ian Cook said in a statement. The company expects adjusted earnings per share for the year to be flat with 2015 on a dollar basis. Colgate-Palmolive shares are up 10% for the year so far, while the S&P 500 Index is up 6% for the same period.

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Ford’s stock tumbles after profit misses expectations

Ford Motor Co.’s stock tumbled 6.1% in premarket trade Thursday, after the automaker reported second-quarter earnings that missed expectations, while revenue beat. Earnings for the latest quarter fell to $1.97 billion, or 49 cents a share, from $2.16 billion, or 54 cents a share, in the same period a year ago. Adjusted earning per share came in at 52 cents, below the FactSet consensus of 60 cents. Revenue rose to $39.49 billion from $37.26 billion, above the FactSet consensus of $36.2 billion, as a miss in North America was offset by beats in Europe, South America, Asia Pacific and Middle East & Africa. “We remain committed to delivering another full year of strong profitability, even as we address some new risks and market challenges around the world,” said Chief Executive Mark Fields. The stock has slipped 1.8% year to date through Wednesday, while the S&P 500 has gained 6%.

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Dow beats earnings and revenue expectations

Dow Chemical Co. reported second-quarter earnings that rose to $3.12 billion, or $2.61 a share, from $1.14 billion, or 97 cents a share, in the same period a year ago. Operating earnings per share, which excludes a gain related to the Dow Corning ownership restructure and one-time restructuring charges, came in at 95 cents. The FactSet EPS consensus was 86 cents. Revenue fell to $11.95 billion from $12.91 billion, but beat the FactSet consensus of $11.23 billion, as the chemical company’s performance plastics, performance materials and chemicals, infrastructure solutions and consumer solutions businesses all exceeded expectations. Chief Executive Andrew Liveris said the company is witnessing healthy demand in North America, a measured recovery in Europe, early signs of improvement in Latin America and a rise of increasingly affluent customers in Asia. “Despite the varied economic landscape, we continue to see favorable conditions and robust demand in our core consumer-led markets of packaging, automotive and construction throughout the world,” Liveris said. The stock, which ticked up 0.7% in light premarket trade, has gained 4.2% year to date through Wednesday, while the S&P 500 has advanced 6%.

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WikiLeaks releases voice mails hacked from DNC

WikiLeaks released a second batch of data leaked from Democratic National Committee servers Wednesday night, this time a series of voice mail messages. Last week, WikiLeaks released a trove of DNC emails — which many suspect were stolen by Russian government hackers — that led to the resignation of DNC chairwoman Debbie Wasserman Schultz. Wednesday’s leak consisted of 29 voice mails — about 14 minutes’ worth in total — none of which appeared to be scandalous. In fact, most appeared to be routine, even mundane, personal and business messages. The leak likely will not be the last; WikiLeaks founder Julian Assange said Tuesday that “a lot more material” relevant to the U.S. election has yet to be released.

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Mortgage Earnings, Originations Up at PrimeLending

Home lending picked up from the previous quarter and the year-previous period at PrimeLending. Mortgage income was strong for the bank-holding company.

Residential loan production for the three months that finished on June 30 were 42 percent better than what was closed during the first quarter of this year.

Those were among the details in a Form 10-Q filing by parent Hilltop Holdings Inc. with the Securities and Exchange Commission for the second quarter 2016.


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From:: Financing

Ditech Cutting TX Servicing Jobs

A diminishing need for employees who handle distressed loans has led to more layoffs at Ditech Financial LLC — this time in South Texas.

The Tampa, Florida-based company said in a statement Tuesday that it has re-evaluated it operating mode and resigned servicing roles.

As a result, some servicing and technology functions are being consolidated to larger operations sites to improve business-wide efficiency.


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