During Tuesday’s Morning trade, Shares of Harley-Davidson Inc (NYSE:HOG), lost -1.45% to $48.98.
Harley-Davidson (HOG) employees at its York, Pa., motorcycle assembly operations, represented by the International Association of Machinists and Aerospace Workers (IAM) Local 175, voted to ratify a new collective bargaining agreement with the Company, effective Feb. 1, 2016 through Oct. 15, 2022. The agreement, which covers about 970 employees at York, succeeds the current agreement, which was originally planned to expire in February 2017.
“Our York employees play an important role in ensuring the strength of our manufacturing operations and our ability to be responsive to our customers globally, and we appreciate their many contributions,” said Michelle Kumbier, Harley-Davidson Senior Vice President, Motor Company Product and Operations. “We believe the new contract is competitive while ongoing to provide a stable production environment as we focus on managing the business for long-term success.”
The agreement comprises wage improvements in each year of the contract and maintains the Company’s flexible manufacturing model.
Harley-Davidson, Inc. manufactures cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells wholesale street-legal Harley-Davidson motorcycles, in addition to a line of motorcycle parts, accessories, general merchandise, and related services.
Shares of Blackstone Group LP (NYSE:BX), declined -1.42% to $30.57, during its current trading session.
Blackstone, declared that Stephen A. Schwarzman, Chairman, CEO, and Co-Founder of Blackstone, will present at the Goldman Sachs US Financial Services Conference in New York on Wednesday, December 9th, 2015 at about 12:30 p.m. ET.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations.
Finally, Shares of Tiffany & Co. (NYSE:TIF), lost -0.24%, and is now trading at $76.40.
Tiffany & Co., stated its financial results for the three months (“third quarter”) ended October 31, 2015. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures” plan), worldwide net sales rose 4%; on a stated basis, worldwide net sales were 2% below the preceding year. Net earnings declined 8% (not taking into account a preceding-year charge noted below) partly reflecting the negative effects from the strong U.S. dollar. Administration is now projecting net earnings for the year ending January 31, 2016 to be 5%-10% below last year’s $4.20 per diluted share (not taking into account charges in both years), and is also now projecting free cash flow in excess of $500 million for the year.
In the third quarter:
- Worldwide net sales on a constant-exchange-rate basis rose 4% and comparable store sales raised 1% due to growth in Japan, Europe and Asia-Pacific partly offset by lower sales in the Americas. Sales growth was led by higher sales of fashion gold jewelry and statement jewelry. Stated in U.S. dollars, worldwide net sales were $938 million, as compared to $960 million a year ago.
- Net earnings were $91 million, or $0.70 per diluted share, contrast with $99 million, or $0.76 per diluted share, when not taking into account a pre-tax charge of $94 million, or $61 million and $0.47 per diluted share after-tax, on the extinguishment of debt related to prepaying $400 million of long-term debt (see “Non-GAAP Measures”); and the year-over-year decline reflected the lower sales and higher selling, general and administrative expenses partly offset by a higher gross margin. On a stated basis, which comprised that charge, net earnings in last year’s third quarter were $38 million, or $0.29 per diluted share.
Tiffany & Co., through its auxiliaries, designs, manufactures, and retails jewelry worldwide. Its jewelry products comprise fine and solitaire jewelry; engagement rings and wedding bands to brides and grooms; and non-gemstone, sterling silver, gold, and metal jewelry.