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Ferrari Revs to Highs Despite Earnings Missing
The Street – Shares of Ferrari (RACE) – Get Report are racing higher on Monday, at this writing up 3.4%.
While the gains may not seem impressive at first glance, notice that the rally is sending the stock to records. Further, it comes despite the company missing on earnings and revenue expectations.
Earrings of 0.04 euro missed analysts’ expectations of 0.08 euro, while revenue of 571 million euros slumped more than 40% and missed estimates by more than 15 million euros.