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(HAR) Harman shares soar on return to profit
Feb. 9, 2010, 1:12 p.m. EST
By Jim Jelter HAR
SAN FRANCISCO (MarketWatch) -- Shares of Harman International Industries Inc. /quotes/comstock/13*!har/quotes/nls/har (HAR 40.76, +5.26, +14.82%) surged as much as 15% to $41.05 Tuesday as investors reacted to a sharp turnaround in its quarterly results.
The company, which makes audio, GPS and "infotainment" systems primarily for the automotive industry, said late Monday it swung to a profit in the fiscal second-quarter, posting net income of $16 million. It had a net loss of $219 million a year ago.
Excluding one-time items, Harman had a profit of $53 million or 40 cents a share, reversing a year-ago loss of $16 million, or 21 cents a share. Sales for the quarter ended Dec. 31 rose 24% to $937 million. Analysts polled by FactSet Research, who typically exclude one-time items in their estimates, had expected Harman to earn 30 cents a share in the latest quarter.
>>NYSE Top % Gainers: NBG +18.42%, HAR +14.83%, HEK +12.38%, VSH +12.64%, NBG/A +12.58%, CMP +9.53%, TIN +9.73%, DDR +9.36%, WC +9.93%, FBP +9.90%, SRX +9.12%, DAL +8.98%, AMR +9.0%%, AEG +8.71%, HEK +9.43%, TC +8.18%, CAL +8.35%, GBX +8.53%, DB +7.60%, ING +7.52%, GOLD +6.72%, LCC +6.41%CAT +6.38%...
>NASD Top % Gainers: ACLI +25.68%, TRBN +23.81%, TO +18.90%, CTIC +20.48%, CLWT +20.73%, PBIO +9.52%, PSOF +15.82%, ORNG +16.47%, UAUA +16%, ADCT +15.89%, COIN +14.38%, ISSC +16.20%, ONCY +14.50%, AMIN +13.64%, NYNY +12.18%, TRXI +16.67%, STLY +13.85%, FFDF +11.94%, STSA +10.96%, REFR +12.36%, CENX +8.22%...
>>POT $105 Calls +92.68% ($3.95), POT was $103 PM when I posted the fertilizer PM runners
Pretty much a no brainer, when commodities are running
POT doesn't have as tight a bid/ask as some others I like, but they are reliable, both as calls and puts
just a friendly headsup...so many calls and puts, so little time to post them all
I think the PPT will bring out something to save the markets before EOD...but if not
10,000 may not hold
As I've observed, Germany is no mood to bail out Greece, knowing full well that Portugal, Spain, Italy, Ireland, Romania etc are probably next (Portugal is actually in worse shape than Greece)
There are those saying that Germany is considering leaving the Euro to avoid having to hang out with those dang PIIGS, lol!
I'm going with 10,110 doc
>>X $45 puts -36% ($1.47)
[cjart]i49.tinypic.com/2whgfes.png[/chart]
AAPL $200 Calls +28.22%, 2.59 (eom)
Lots of gappers, most are slipping from the open...waiting to see if this builds, or sells off
It all comes down to Greece, is what I hear from the interviews on BL...much riding on Trichet
>>COIN +11.38%, (.87c), COINZ +31.30% (.25c), COINW +4% (.2652),
>>ACLI +22.46%, $19.79, CERS +11.86%, ADCT +14.48%