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Auto Parts Sector In Ditch After BorgWarner's Weak Outlook


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.

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.


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Posted-In: Earnings News Guidance

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