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Harman Int’l Stock Up 43% in 2 Weeks
Harman Industries saw its stock price soar in recent weeks, despite news its profit fell by 86% vs. 2010.
Can someone please explain the stock market to me?
Harman International Industries' (NYSE: HAR) stock is skyrocketing. The stock is up 43 percent in the past two weeks, rising from $26.20 on October 3 to $37.47 on October 14, as of press time.
The rise comes despite the fact that Harman announced in mid-August that its profits slumped 86 percent vs. the prior year; but Harman did report better-than-expected fourth quarter revenues due to international sales. As a result of that news, Relational Investors LLC increased its stake in the company. Harman brands include JBL, Lexicon, JBL Synthesis, Revel, Crown and others.
Investors just made some great money on bad news, while all the 99%-ers are protesting down on Wall St.
Harman International Industries' (NYSE: HAR) stock is skyrocketing. The stock is up 43 percent in the past two weeks, rising from $26.20 on October 3 to $37.47 on October 14, as of press time.
The rise comes despite the fact that Harman announced in mid-August that its profits slumped 86 percent vs. the prior year; but Harman did report better-than-expected fourth quarter revenues due to international sales. As a result of that news, Relational Investors LLC increased its stake in the company. Harman brands include JBL, Lexicon, JBL Synthesis, Revel, Crown and others.
Investors just made some great money on bad news, while all the 99%-ers are protesting down on Wall St.
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About the Author
Jason Knott, Editor, CE Pro
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
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