Auto Parts Sector In Ditch After BorgWarner's Weak Outlook


Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


BorgWarner's (NYSE: BWA) weak profit outlook sent a raft of auto parts stocks tumbling Thursday.

Although the powertrain maker boosted its 2014 earnings guidance to between $3.25 and $3.35 per share, from $3.15 to $3.30; the Street expected $3.36 per share. BorgWarner traded down 3.6 percent in the afternoon session.

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Frame component maker Tower International (NYSE: TOWR) on Thursday beat second-quarter expectations for both profits and revenue and offered an in-line outlook for 2014. Yet Tower tumbled 8.5 percent in afternoon trading.

Aluminum wheel-maker Superior Industries International (NYSE: SUP) fell more than seven percent as it gears up for a proxy fight next month with activist investor Mario Gabelli.

After-market supplier Standard Motor Products (NYSE: SMP) fell 5.2 percent after its Thursday earnings report missed top-and bottom-line views.

Tenneco (NYSE: TEN), which makes emission control systems, fell 2.3 percent, although on Monday it offered an implied third-quarter revenue forecast of about $2.7 billion, ahead of Wall Street's estimated $2.16 billion.

Drive-train supplier American Axle (NYSE: AXL) declined 2.5 percent. It's expected to post second-quarter earnings Friday.


Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


Posted In: EarningsNewsGuidance