Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Harley-Davidson stock zooms 9% on bike sales

July 19, 2011: 4:52 PM ET
Harley-Davidson stock

Click the chart to view Harley-Davidson's stock.

NEW YORK (CNNMoney) -- Harley-Davidson pulled a wheelie on Wall Street today. Shares of the motorcycle giant shot up 9% Tuesday after it reported that U.S. bike sales rose on an annual basis for the first time in nearly five years. Shares closed at $45.11, up $3.70 on the day.

Dealers sold more than 53,000 new motorcycles in the U.S. during the second quarter, up 7.5% from a year ago and the first year-over-year quarterly rise since the fourth quarter of 2006. Global sales climbed almost 6% during the period.

The strong sales helped the Milwaukee-based company boost its second-quarter profit nearly 40% from a year earlier to $190.6 million, or 81 cents per share, as overall revenues rose 18% to $1.34 billion.

The results blew past Wall Street's expectations. Analysts surveyed by Thomson Reuters were looking for the company to earn 71 cents per share for the quarter, on revenue of $1.26 billion.

Harley-Davidson (HOG, Fortune 500) also lifted its guidance for the year. The company expects to ship up to 235,000 new motorcycles to distributors worldwide this year, up 12% from 2010. At the end of the first quarter, Harley's most optimistic forecast called for an 8% rise in shipments for the year.  To top of page

Index Last Change % Change
Dow 19,827.25 94.85 0.48%
Nasdaq 5,555.33 15.25 0.28%
S&P 500 2,271.31 7.62 0.34%
Treasuries 2.47 0.01 0.33%
Data as of 5:30pm ET
Company Price Change % Change
Bank of America Corp... 22.64 0.11 0.49%
General Electric Co 30.53 -0.68 -2.18%
Bristol-Myers Squibb... 49.23 -6.26 -11.28%
CSX Corp 44.33 -1.18 -2.59%
Chesapeake Energy Co... 6.69 0.07 1.06%
Data as of Jan 20
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.09%4.03%
15 yr fixed3.25%3.18%
5/1 ARM3.42%3.29%
30 yr refi4.12%4.07%
15 yr refi3.29%3.19%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates: