Harley-Davidson (NYSE:HOG) announced on Thuesday that third-quarter net income was lower by 27 percent, attributable to slower motorcycle shipments due to a new production system. Earnings were $134 million, or 59 cents per share, during the quarter, versus $183.6 million, or 78 cents per share, in the same period last year. Revenue was lower by 11 percent to $1.25 billion. Analysts expected earnings of 59 cents per share and revenue of $1.1 billion.
Shares are higher by about 6.5 percent.
Xerox (NYSE:XRX) announced that third-quarter profit fell by 12 percent due to weak supplies and equipment demand. Net income fell to $282 million, or 21 cents per share, from $320 million, or 22 cents, in the same period last year. Sales fell by 2.9 percent to $5.4 billion.
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