Skip to main content

Market Overview

Auto Parts Sector In Ditch After BorgWarner's Weak Outlook

Share:

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.

 

Related Articles (BWA)

View Comments and Join the Discussion!

Posted-In: Earnings News Guidance

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com