Harley-Davidson (HOG) NewsBite - Harley-Davidson Rises on Upgrade

Harley-Davidson Inc. (HOG) opened at 49.62. So far today, the stock has hit a low of 48.94 and a high of 50.12. HOG is now trading at 49.61, up 0.39 (0.79%). The stock hit its 52 week high of 75.87 in November and set its 52 week low of 45.67 in October. The stock has been generally lower for the past year. Shares of Harley-Davidson have been trading higher in today's action after a Lehman Brothers analyst lifted his rating on the stock to "Equal-weight" from "Underweight." Technical indicators for the stock are bearish but slightly improving while S&P gives HOG a negative 2 STARS (out of 5) sell rating. If you’re looking for a hedged play on this stock, consider a December bull-put credit spread below the $42.50 range.
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Motorcyclist injured in crash in Middle Township charged with drunken driving

A Dennis Township man was seriously injured Tuesday night when he crashed his motorcycle on Route 47 in Goshen, township police said.

Police charged Frank W. Jenkins, 59, of Dennisville, with driving while intoxicated in the accident.

Police said Jenkins was heading north on Route 47 when he lost control of his Harley Davidson around a curve and crashed into the woods. Jenkins was flown by helicopter to AtlantiCare Regional Medical Center's Trauma Unit. He was listed in serious condition Wednesday afternoon.

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Harley-Davidson wins award

Harley-Davidson of Montgomery was awarded the company's 2007 model year Silver Bar & Shield Circle of Excellence Award for the fifth consecutive year.

Harley-Davidson of Montgomery earned the award based upon their outstanding quality levels in motorcycle and related product sales, an evaluation of customer service and satisfaction, their facility, skilled and well-trained staff and various operational measures.
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Analyst upgrades: MOT, PCAR, PSUN, TLB and RNOW

Motorola, Paccar, Pacific Sunwear, Talbots and RightNow Tech were today's noteworthy upgrades:

Oppenheimer upgraded shares of Motorola Inc. (NYSE: MOT) to Buy from Neutral on valuation, and is positive on the company's free cash flow generation.

Wachovia raised Paccar Inc. (NASDAQ: PCAR) estimates to Market Perform from Underperform based on better-than-expected European performance.

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Harley-Davidson Third Quarter Earnings Call

The motorcycle manufacturer reported revenue decrease of 6% to $1.54 billion, almost in line with analysts’ expectations of $1.52 billion. Results were disappointing but not unexpected. The company knew in September that sales were slowing and expects a challenging environment next year. Harley repurchased 9.7 million shares of stock, at a cost of $509 million. For 2007, Harley expects to ship between 328,000 and 332,000 motorcycles, down from 349,196 in 2006.
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Harley-Davidson rally this weekend

Motorcycling enthusiasts are expected to roll into the city this weekend for a Harley-Davidson owners’ rally featuring music and fundraisers.

The Twistin’ The Wick event begins Thursday and will include a three-day weekend packed with poker runs, a pig roast, artwork from Harley-Davidson artist Scott Jacobs, and a mobile veterans unit.

The event will take place at Space Coast Harley-Davidson location at 1440 Executive Circle, Palm Bay, Cocoa Beach Harley-Davidson at 3688 North Atlantic Avenue and the Pineda Harley-Davidson on U.S. 1 in Melbourne.

There will also be shows featuring a number of biker bands from Brevard.

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