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Zacks Analyst Blog Highlights: Harley-Davidson, US Airways, United Airlines, Southwest Airlines and American Airlines
For Immediate Release
Chicago, IL – October 16, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Harley-Davidson (HOG - Analyst Report), US Airways (LCC - Snapshot Report), United Airlines (UAUA - Analyst Report), Southwest Airlines (LUV - Analyst Report) and American Airlines (AMR - Snapshot Report).
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Here are highlights from Thursday’s Analyst Blog:
Harley Fails to Meet Estimates
Harley-Davidson (HOG - Analyst Report) disappointed in its third quarter results, posting a net income of $26.5 million or 11 cents per share compared to the Zacks Consensus Estimate of 22 cents per share. Compared to the year-ago quarter, net income tumbled 84% from $166.5 million and earnings per share collapsed 84.5% from 71 cents. The company addressed lower motorcycle shipments and the effects of the economy on retail and wholesale loan performance at Harley-Davidson Financial Services for the decline in earnings.
Total revenue during the quarter fell 21% to $1.12 billion. Revenue from Harley-Davidson motorcycles (which includes brands such as Harley-Davidson, Buell and MV Agusta) decreased 22% to $803.3 million. The company shipped 54,236 motorcycles to dealers and distributors worldwide, down 27% from the year-ago quarter. However, the shipment was in line with the guidance of 52,000 to 57,000 units.
FAA Indicts US Airways
The Federal Aviation Administration (FAA) on Wednesday accused US Airways (LCC - Snapshot Report) for operating eight airplanes last year without conducting the mandatory safety checks.
The FAA has proposed a penalty of $5.4 million against US Airways. FAA documents allege that US Airways sanctioned 1,647 flights in violation of mandatory safety checks. The flights were operated from Oct. 2008 to Jan. 2009 and were out of compliance of flouted airworthiness directives (ADs) and its maintenance program. After being charged, the management said that the specific regulations were broken when it was integrating new maintenance systems following its merger with America West and has since worked with the FAA to fix the problems.
The air carrier has been allowed a grace period of 30 days to justify itself. Though the management is trying to work out a resolution with the FAA, it is quite unusual for the fines to be reduced.
Peer United Airlines (UAUA - Analyst Report) has also been charged a sum of $3.8 million by the FAA on the same day for maintenance violations on a single aircraft.
Last year, FAA had charged Southwest Airlines (LUV - Analyst Report) with $10.2 million for flying planes without performing required safety inspections. Also, American Airlines (AMR - Snapshot Report) was charged $7.1 million for disregarding maintenance on two of its planes.
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About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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