2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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CHICAGO - Shares of Harman International Industries Inc. fell Friday, a day after the manufacturer of audio and electronic products said its fiscal fourth-quarter profit plunged 70 percent to miss Wall Street forecasts.
| HAR | 13.99 |  -0.17 |
Shares of Harman fell $6, or 14 percent, to $37. The stock has ranged from $35.74 to $115.28 over the past year.
For the quarter ending June 30, the company earned 68 cents per share. On average, analysts polled by Thomson Reuters expected the company to report profit of 77 cents per share.
Buckingham Research Group analyst Joseph C. Amaturo told investors in a research note that he was maintaining his "Neutral" rating on Harman shares after the company's results.
"We continue to believe the company will struggle to improve automotive margin and we do not expect a material near-term improvement in earnings growth," he wrote Friday.
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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