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Harman International Industries Inc (HAR.N)

HAR.N on New York Stock Exchange

110.06USD
11:05am EST
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$0.11 (+0.10%)
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$110.85
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Latest Key Developments (Source: Significant Developments)

Harman announces strategic investment in Navdy
Tuesday, 6 Dec 2016 08:30am EST 

Harman International Industries Inc - : Harman International Industries - as per agreement, co has rights to distribute new co-branded aftermarket navdy with harman device to automotive oems .Harman announces strategic investment in navdy and partners to offer aftermarket augmented reality driving device to global automotive oems.  Full Article

Samsung Electronics to acquire Harman for $8 bln
Monday, 14 Nov 2016 02:28am EST 

Harman International Industries Inc : Samsung electronics to acquire Harman, accelerating growth in automotive and connected technologies . Harman International Industries - Company and Samsung Electronics enter agreement under which Samsung will acquire Harman for $112.00 per share in cash . Harman International Industries Inc - Will continue to be led by Dinesh Paliwal and Harman's current management team . Harman International Industries Inc - Agreement has been unanimously approved by boards of directors of both companies . Harman International Industries - Evercore is serving as financial advisor to Samsung ; J.P. Morgan and Lazard are serving as financial advisors to Harman . Says total equity value of deal approximately $8.0 billion . Harman international Industries Inc - Upon closing, Harman will operate as a standalone Samsung subsidiary .Harman International Industries Inc - Samsung plans to retain Harman's work force, headquarters and facilities.  Full Article

Harman International Q1 operating earnings per share $1.87
Thursday, 3 Nov 2016 08:00am EDT 

Harman International Industries Inc : Professional solutions net sales was $240 million in q1, down 3 percent . Qtrly connected car net sales $797 million versus $ 755 million . Harman reports first quarter fiscal 2017 results . Q1 operating earnings per share $1.87 . Q1 gaap earnings per share $1.45 . Q1 sales $1.8 billion versus i/b/e/s view $1.73 billion .Q1 earnings per share view $1.53 -- Thomson Reuters I/B/E/S.  Full Article

Harman International Industries CEO's FY 2016 total compensation $16.6 mln- SEC filing
Tuesday, 25 Oct 2016 04:08pm EDT 

Harman International Industries Inc :CEO Dinesh Paliwal's FY 2016 total compensation $16.6 million versus $13.97 million in FY 2015 - SEC filing.  Full Article

Harman International reports Q4 earnings per share $1.57
Thursday, 4 Aug 2016 08:00am EDT 

Harman International Industries Inc : Q4 earnings per share $1.57 . Q4 earnings per share view $1.52 -- Thomson Reuters I/B/E/S . Q4 sales $1.9 billion versus I/B/E/S view $1.79 billion . Quarterly net sales of professional solutions $286 million versus $285 million . Quarterly net sales of connected car $843 million versus $758 million . Issues guidance for fiscal 2017 and provides longer-term outlook . FY2017 revenue view $7.30 billion -- Thomson Reuters I/B/E/S . Sees FY 2017 sales $7.3 billion to $7.5 billion .Sees FY 2018 sales about $7.7 billion; sees FY 2019 sales about $8.6 billion.  Full Article

Harman International Industries Inc announces quarterly cash dividend
Thursday, 28 Apr 2016 08:00am EDT 

Harman International Industries Inc:Declared a cash dividend on April 28, 2016 of $0.35 per share for the quarter ended March 31.Quarterly dividend will be paid on May 23 to each stockholder of record date as of May 9, 2016.  Full Article

Former Harman International Industries Inc executive pleads guilty to insider trading - Reuters News
Monday, 28 Mar 2016 02:08pm EDT 

Harman International Industries Inc:A former Harman International Industries Inc executive admitted on Monday to insider trading in the company's stock just prior to the release of a stronger-than-expected quarterly earnings report.Hamilton, 45, of Norwalk, faces up to 20 years in prison, but could get one to two years under recommended federal guidelines, according to his plea agreement. He also agreed not to contest a $131,958 fine, representing his illegal profit.Brian Spears, a lawyer for Hamilton, declined to comment. The defendant is free on bond, and scheduled to be sentenced on June 10. He also faces related U.S. Securities and Exchange Commission civil charges.Prosecutors said Hamilton illegally profited on 17,000 Harman shares he bought through a Charles Schwab account belonging to him and his wife on Oct. 30, 2013, a day before the company released quarterly results.Hamilton allegedly bought the shares after reviewing drafts of Harman's quarterly report and press release announcing the results, and listening to a conference call with Harman's audit committee during which the results were discussed.The defendant was arrested on Feb. 5, and no longer works at Harman.  Full Article

Harman International Industries Inc exec arrested in U.S. for insider trading - Reuters
Friday, 5 Feb 2016 06:39pm EST 

Harman International Industries Inc:An executive at Harman International Industries Inc HAR.N was arrested on Friday and accused by U.S. prosecutors of trading on inside information about a stronger-than-expected quarterly report. - RTRS.Dennis Hamilton, a vice president of tax at Harman, was charged in a criminal complaint filed in New Haven, Connecticut, with securities fraud in connection with trades in the company's stock that prosecutors said netted him over $130,000. - RTRS.The U.S. Securities and Exchange Commission filed a related civil lawsuit over the non-public information that the agency said he learned at his job, which supplies car infotainment systems. - RTRS."We allege that Hamilton traded on details known only to company insiders and took advantage of the stock market's fair and level playing field," said Sharon Binger, director of the SEC's office in Philadelphia. - RTRS.Hamilton, 45, was released on a $2 million bond into home confinement with electronic monitoring after an appearance in court. His court-appointed lawyer declined comment. - RTRS.According to the criminal complaint, on Oct. 18, 2013, Hamilton received an email attaching a draft of Harman's quarterly report, and subsequently on Oct. 24 received an email with a draft earnings press release for the first fiscal year quarter of 2014 - RTRS.  Full Article

Harman International Industries Inc announces quarterly cash dividend
Thursday, 28 Jan 2016 08:00am EST 

Harman International Industries Inc:Declared a cash dividend on January 28, 2016 of $0.35 per share for the quarter ended December 31, 2015.Quarterly dividend will be paid on February 23, 2016 to each stockholder of record as of the close of business on February 8, 2016.  Full Article

Harman International Industries Inc to acquire Towersec Automotive Cyber Security
Tuesday, 5 Jan 2016 08:00am EST 

Harman International Industries Inc:Says it is acquiring TowerSec, a global automotive cyber security company specializing in network protection for connected vehicles.TowerSec's technology will be integrated into HARMAN's 5+1 security architecture aimed at protecting the critical points of vulnerability in the connected and autonomous car, including hardware, network and Over The Air (OTA) updates.  Full Article

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Harman sale grooms stallion instead of unicorn

CHICAGO (Reuters Breakingviews) - Samsung is riding a stallion instead of a unicorn into the driverless revolution. Despite no stated cost savings, the 28 percent premium the Korean electronics group agreed to pay for connected-car supplier Harman International is reasonable. The likes of Alphabet's Google are investing heavily to invent the automotive future as General Motors and others bet on risky startups. This deal suggests there are safer ways to play a mega-trend in the making.