Harley-Davidson's stock rises after profit beats expectations by a wide margin, while motorcycle shipments fell again

Shares of Harley-Davidson Inc. HOG, +1.11% rose 1% in premarket trading Thursday, after the motorcycle maker beat fourth-quarter profit expectations by a wide margin, even as motorcycle shipments continued to fall due to “prudent” dealer inventory management and market conditions. Net income dropped to $25.8 million, or 18 cents a share, from$41.9 million, or 28 cents a share, in the year-ago period. That beat the FactSet consensus for earnings per share of 4 cents. Revenue declined 7.8% to $1.05 billion, ...