HARLEY-DAVIDSON REPORTS LOWER EARNINGS

Harley-Davidson on Tuesday reported lower quarterly sales and earnings and said it’s launching a new strategic plan and conserving cash as motorcycle sales fall worldwide due to the COVID-19 pandemic. The Milwaukee, Wisconsin-based company also slashed its dividend to 2 cents a share from 38 cents and said it is in talks with major U.S. banks to secure $1.3 billion in liquidity. For the quarter, Harley-Davidson posted earnings of $69.7 million compared with $127.9 million in the same period last year. The company’s shares were up 14% at one point in trading on Tuesday.