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 18,432.24 -24.11 -0.13%
Nasdaq 5,162.13 7.15 0.14%
S&P 500 2,173.60 3.54 0.16%
Treasuries 1.46 -0.05 -3.51%
Data as of 4:32pm ET
Company Price Change % Change
KeyCorp 11.70 0.05 0.43%
Bank of America Corp... 14.49 -0.19 -1.29%
Ford Motor Co 12.66 -0.05 -0.39%
General Electric Co 31.14 -0.11 -0.35%
Chesapeake Energy Co... 5.42 0.23 4.43%
Data as of 4:04pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.41%3.42%
15 yr fixed2.69%2.69%
5/1 ARM2.90%2.92%
30 yr refi3.43%3.45%
15 yr refi2.73%2.72%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates: