delivered more for investors to consider than a first quarter earnings beat. The legendary bike maker reported first quarter earnings Tuesday of $1.05 a share, surpassing Wall Street forecasts for $1.02 a share. Shares fell 4.1% to $56.91 in the trading session as Harley-Davidson only reaffirmed its shipment guidance for the year of flat to down modestly.
Oil prices recovered lost ground on Monday following big losses last week, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains. U.S. West Texas Intermediate (WTI) crude oil futures added 32 cents, or 0.64 percent, by 0649 GMT(2:49 a.m. ET), but were still just below the $50 mark pierced on Friday at $49.84 a barrel. Oil prices fell steeply last week on the back of stubbornly high crude supplies, despite a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and some other producers to cut production by almost 1.8 million barrels per day (bpd) for six months from Jan. 1 to support the market.
Wall Street is betting Sprint Corp. and T-Mobile US Inc. will soon revive talks on a blockbuster merger, but a recent surge in demand for wireless assets has Sprint exploring other ways to unleash value. Sprint’s parent SoftBank Group Corp. believes the company’s vast trove of wireless spectrum, which can be used for faster 5G services, has been undervalued, a view bolstered by AT&T Inc.’s lofty $1.6 billion purchase of Straight Path Communications Inc., according to people familiar with the matter.