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.
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