Tag Archives: har

Can Connected Car Stock Mobileye Rev From Q4 Report?

Connected car stocks have been running hot lately, with all the technology going into new vehicles. That goes for everyone from chipmakers like Ambarella (AMBA), Skyworks Solutions (SWKS), IBD Leaderboard stock NXP Semiconductors (NXPI) and Nvidia (NVDA) to high-end audio brand Harman International Industries (HAR). So what about Mobileye (MBLY), the developer of advanced driver assistance systems (ADAS) that reports fourth-quarter earnings before

Harman breaks out on December-quarter earnings beat

S hares of Harman International Industries (HAR) surged to near an eight-year high on Thursday after the maker of premium audio products and car infotainment systems smashed December-quarter forecasts and announced a partnership with China search leader Baidu. The Stamford, Conn.-based company on Thursday said it earned $1.79 a share on sales of $1.58 billion for its fiscal Q2 ended Dec. 31. On a year-over-year basis, earnings per share jumped 64% and sales rose 19%. Analysts polled by Thomson Reuters had expected Harman to earn $1.28 a share on sales of $1.48 billion. Excluding the impact of foreign currency translation, sales would have been up 24%. Harman stock broke out in heavy trading on the stock market today. In early afternoon trading, Harman shares were up 18% to 119.23. Earlier in the session, Harman hit 121.87, its highest point since April 2007. “Despite foreign exchange headwinds, our fiscal…

Harman deals strengthen automotive, software businesses

Harman International Industries (HAR), a maker of premium audio products and car infotainment systems, moved to diversify its business Thursday with two acquisitions costing nearly $1 billion, extending its reach into software services. Harman is buying Symphony Teleca, a privately held global software services company based in Mountain View, Calif., for a base purchase price of $780 million. The selling stockholders will also be eligible for a cash earn-out if the business achieves certain 2015 revenue targets.