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Ferrari (RACE) Stock Declines Despite Strong Q1 Results, Upbeat 2016 Guidance, New CEO

NEW YORK (TheStreet) -- Ferrari (RACE) shares are falling 0.92% to $45.43 on Monday despite the luxury car maker's better-than-expected 2016 first quarter earnings released this morning.

For the recent quarter, the Maranello, Italy-based company earned 41 euros a share, beating Wall Street's expectations of 31 euros a share.

Revenue of 675 million euros also topped...