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Stock Market & Financial Investment News

News Breaks
May 8, 2014
08:22 EDTMGAMagna sees 2014 revenue $34.9B-$36.6B, consensus $35.71B
Sees 2014 operating margin in mid to high 6% range.
News For MGA From The Last 14 Days
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November 25, 2015
16:54 EDTMGAMagna forms seating joint venture in China
Magna International and Chongqing Hongli Zhixin Automotive Parts Manufacture Co., Ltd. have announced the signing of a 50/50 joint-venture agreement to provide complete seating systems and seating components to Changan Ford and other customers in China. Hongli Zhixin, a leading independent seating supplier in China with capabilities in foam, trim and structures, as well as established OEM customers, brings its manufacturing facility in Harbin and two production programs to the JV. A Hongli Zhixin-Magna headquarters will be located in Chongqing. This JV is expected to strengthen Magna's position in China by providing additional regional knowledge of customer and market expectations, enhancing the competitiveness of its cost structure through vertical integration and facilitating faster response times.
November 18, 2015
12:02 EDTMGABorgWarner has de-risked set up into Detroit Auto Show, analyst says
Shares of BorgWarner (BWA), a global automotive industry components and parts supplier, are gaining after Goldman Sachs analyst Patrick Archambault upgraded the company to Buy from Neutral citing the 35% pullback in shares since the March 3 peak and improving China sales. WHAT'S NEW: Archambault, who maintained a $54 price target on BorgWarner shares, said in a note to investors that the auto parts maker has de-risked the set up into the Detroit Auto Show in January in the wake of its recent guide down for 2015 and pull forward of backlog cut announcement. The company may get to mid-to-high single digit growth even with a backlog cut and improving China sales "may even point to some upside," the analyst continued. WHAT'S NOTABLE: On November 10, BorgWarner finalized its acquisition of Remy International, a manufacturer of rotating electrical components such as alternators, starter motors and electric traction motors for the automotive and commercial vehicle industry. "With this acquisition, the complementary combination of technologies and global operations will strengthen BorgWarner's product leadership position," said BorgWarner President and Chief Executive Officer James Verrier. On October 30, RBC Capital downgraded BorgWarner to Sector Perform from Outperform with a $45 price target on shares. Analyst Joseph Spak said BorgWarner's story is transitioning from a growth story to GARP as it enters a mid-single digit growth phase, and expects the shareholder base will likely churn and credibility has to be rebuilt. PRICE ACTION: Shares of BorgWarner are advancing 4.79%, or $1.94, to $42.55 in midday trading. OTHERS TO WATCH: Other companies in the space including Lear (LEA), Delphi Automotive (DLPH) and Magna International (MGA) are trading higher in midday trading.

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