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-0.00115928587989792 -0.00394157199165318 -0.00208671458381645 0.000695571527938816 -0.00834685833526546 0.00162300023185718 0.0127521446788777 0.0118247159749594
Stock impact report

Harley boosts cash reserves as coronavirus hits demand [Reuters]

Harley-Davidson, Inc. (HOG) 
Last harley-davidson, inc. earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: Reuters
Harley boosts cash reserves as coronavirus hits demand (Reuters) - Harley-Davidson Inc ( HOG.N ) slashed its dividend and halted share buybacks on Tuesday to boost its cash reserves as global lockdowns due to the coronavirus pandemic hit motorcycle demand in the first quarter. The company has $1.47 billion in cash and is in talks with big U.S. banks to get $1.30 billion in loan to ride out the crisis, it said, adding it would focus on its core U.S. market to prop up sales. Harley shares, which have lost nearly half of its value so far this year, jumped as much as 17% in morning trading after the company rolled out its cash preservation plan. “Harley continues to struggle with declining sales, but it continues to generate respectable free cash flow and we consider shares fairly valued at current levels,” said CFRA Research analyst Garrett Nelson. To boost sales, the company also said it will “de-emphasize” on some unprofitable international regions. The shift in strategy for the comp Show less Read more
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