What happened Harley-Davidson (NYSE: HOG) shareholders outpaced a declining market in October as the stock rose 34% compared to the S&P 500's 2.8% drop, according to data provided by S&P Global Market Intelligence. That rally erased a portion of recent losses for the stock, but Harley-Davidson remains in negative territory while the broader market is up in 2020. Image source: Getty Images. So what Investors were hoping for a good earnings report from the motorcycle giant, and they weren't disappointed. Harley said on Oct. 27 that restructuring efforts and cost cuts helped it achieve some impressive financial wins, including a 39% increase in net profits. Retail motorcycle sales were down 8% worldwide, but that metric represented an encouraging improvement from the prior quarter's 27% slump. Now what CEO Jochen Zeitz and his team still have lots of work ahead of them, as highlighted in Harley-Davidson's 22% sales decline through the first nine months of 2020. Those challenges would be amplified if the current recession stretches on into 2021 or deepens further. That's why investors might want to simply watch this consumer discretionary stock right now before betting big on a quick rebound story. 10 stocks we like better than Harley-DavidsonWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Harley-Davidson wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Demitri Kalogeropoulos owns shares of Harley-Davidson. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source