Latest news with #PIMCO
Reuters
an hour ago
- Automotive
- Reuters
Harley-Davidson misses second-quarter profit estimates as tariffs weigh
July 30 (Reuters) - Harley-Davidson (HOG.N), opens new tab posted a lower-than-expected profit for the second quarter and did not provide an annual forecast on Wednesday, as U.S. President Donald Trump's tariffs continued to weigh on the motorcycle maker. However, shares of the company rose as much as 12% in premarket trading after the company said that it would offload loans from its financial unit to KKR (KKR.N), opens new tab and PIMCO valued at over $5 billion. Leisure vehicle demand has been on a decline in the U.S., with consumers rethinking non-essential purchases in an uncertain economy. Harley's sales have also taken a hit over the years as its bikes struggle to resonate with younger riders, who are looking for fuel efficient models instead with modern safety features. "Given that the global tariff and business outlook especially for discretionary product purchases remains uncertain, we continue to withhold our full year HDMC (Harley Davidson Motorcycle Company) 2025 financial outlook," Harley-Davidson said. Between February and now, close to 100 U.S. companies have either withdrawn or cut their guidance, opens new tab as uncertainty over tariffs throws financial planning out of gear, with most of them from the consumer and automotive and transportation sectors, according to Reuters calculations. Harley-Davidson's profit fell to $108 million, or 88 cents per share, in the second quarter from $218 million, or $1.63 per share, a year earlier. Analysts on average had expected a profit of 96 cents per share, according to data compiled by LSEG. Overall revenue in the quarter fell 19% to $1.3 billion.
Yahoo
an hour ago
- Automotive
- Yahoo
Harley-Davidson misses second-quarter profit estimates as tariffs weigh
(Reuters) -Harley-Davidson posted a lower-than-expected profit for the second quarter and did not provide an annual forecast on Wednesday, as U.S. President Donald Trump's tariffs continued to weigh on the motorcycle maker. However, shares of the company rose as much as 12% in premarket trading after the company said that it would offload loans from its financial unit to KKR and PIMCO valued at over $5 billion. Leisure vehicle demand has been on a decline in the U.S., with consumers rethinking non-essential purchases in an uncertain economy. Harley's sales have also taken a hit over the years as its bikes struggle to resonate with younger riders, who are looking for fuel efficient models instead with modern safety features. "Given that the global tariff and business outlook especially for discretionary product purchases remains uncertain, we continue to withhold our full year HDMC (Harley Davidson Motorcycle Company) 2025 financial outlook," Harley-Davidson said. Between February and now, close to 100 U.S. companies have either withdrawn or cut their guidance as uncertainty over tariffs throws financial planning out of gear, with most of them from the consumer and automotive and transportation sectors, according to Reuters calculations. Harley-Davidson's profit fell to $108 million, or 88 cents per share, in the second quarter from $218 million, or $1.63 per share, a year earlier. Analysts on average had expected a profit of 96 cents per share, according to data compiled by LSEG. Overall revenue in the quarter fell 19% to $1.3 billion.
CNBC
18 hours ago
- Business
- CNBC
September is in play for Fed cut, says Paul McCulley
CNBC's Steve Liesman with Paul McCulley, former PIMCO chief economist, join 'The Exchange' to discuss the next Fed chair, odds of a September rate cut and expectations for tomorrow's Fed meeting.
Bloomberg
2 days ago
- Business
- Bloomberg
European Exceptionalism At Play In Germany: PIMCO PM
David Forgash, PIMCO managing director and portfolio manager, says the high-yield market is at its highest quality in 20 years and is getting 'a much better grip' on tariff and trade risk. He speaks with Romaine Bostick and Scarlet Fu on 'The Close.' (Source: Bloomberg)
Yahoo
2 days ago
- Business
- Yahoo
Harley-Davidson in talks to sell stake in financing unit, Bloomberg News reports
(Reuters) -Harley-Davidson is in talks with Pacific Investment Management Co and KKR & Co. to sell a stake in its financing unit and existing motorcycle loan portfolio in a deal worth $5 billion, Bloomberg News reported on Monday, citing people familiar with the matter.
