Actionable news
All posts from Actionable news
Actionable news in RACE: New Business Netherlands NV,

Ferrari shares reeling after car maker leaves its guidance unchanged

The Ferrari logo, "Il Cavallino."

Weakness in European markets carried over to Ferrari NV’s U.S.-listed shares on Wednesday, after the company reported quarterly results that were mostly in line with expectations but again left investors wondering about its future.

American depositary receipts of Ferrari RACE, +2.06% spun off Fiat Chrysler Automobiles NV FCAU, -0.95% in January 2016, fell more than 2%, their steepest loss in nearly two months. Shares trading in Milan had their largest one-day drop in a year.

The company reported a second-quarter net profit of 136 million euros ($161 million), up from €97 million in the comparable period of 2016. Revenue rose 14% to €920 million in the quarter.

Ferrari shipped 2,332 cars in the quarter, a 5% increase over the second quarter of 2016 and more than expected. The company expects to boost...