Harman International Inc. (HAR) back in limelight on improved results
By Mark Moneymaster
October 30, 2009 12:44 PM
October 30, 2009 12:44 PM
Symbols: HAR
Shares of Harman International Industries Inc. NYSE: HAR) hit a new high since last August on Friday and were trading around $38.68 a day after the company's aggressive cost cutting efforts showed results.
With this, Harman International Industries Inc. (HAR) stock breached 20 days and 50 days MA on Friday, reflecting a bullish trend.
RBC Capital Markets upgraded the audio and other products for automotive and consumer markets producer Harman International Inc. (HAR) to "Outperform" from "Sector Perform" due to new contracts and improvements in profitability.
Harman had yesterday mentioned that it lost $9.5 million in quarter to September, compared to a $21 million profit in the same quarter last year.
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