Harley-Davidson stock jumps on boost from new engine, cost cuts
New York
HARLEY-DAVIDSON Inc stock climbed the most in more than three months on Tuesday as the motorcycle maker said its new engine is boosting sales despite a weak US market and that the company is trimming almost 300 jobs as part of a cost-cutting plan.
The Milwaukee-Eight engine helped generate sales gains in September in the US, where Harley has struggled amid heightened competition and an industry slump, CEO Matthew Levatich said on an earnings conference call on Tuesday. Harley's third-quarter sales and profit matched analysts' estimates and the Milwaukee-based company reaffirmed its annual global shipment…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
UPS profit beats estimates as cost cuts offset weak delivery demand
General Motors beats quarterly results targets, raises forecast
‘Heavy congestion’ in South-east Asia transhipment ports prompts feeder operators to levy surcharge
Renault Q1 sales rise 1.8%, helped by financing business
Honda to build major EV plant in Canada
Elon Musk’s robotaxi dreams plunge Tesla into chaos