Harley-Davidson Not Being Rewarded For Q1 Beat

Harley-Davidson Inc HOG shares are trading lower by $2.40 (3.7 percent) at $57.00 in Tuesday's session.

Despite a Q1 EPS beat of $0.03 along with $1.5 million beat for sales, the stock is deep in the red. Perhaps the Street was disappointed that the company didn't offer higher 2017 guidance to go along with the Q1 beat.

After a much lower open, Harley-Davidson's stock immediately found support at $56.37 and began to rebound. That low coincides with its February 28 low ($56.28).

The ensuing rally came up well shy of the lower-end of Monday's range ($59.27), only reaching $58.50. It has retreated off that high and is now attempting to remain in the $57.00 handle.

It should be noted the Street was heading the right way into the report. After reaching $62.95 on April 10, the stock backed off just over $3.00 from that high to end Monday's session at $59.40.