🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

BRIEF-Magna Says GM Strike Likely To Reduce 2019 Revenue By About $500 Mln

Published 2019-11-08, 09:14 a/m
BRIEF-Magna Says GM Strike Likely To Reduce 2019 Revenue By About $500 Mln
MGA
-

Nov 8 (Reuters) - Magna International Inc MG.TO :

* MAGNA INTERNATIONAL SAYS GETRAG JOINT-VENTURES HAVE HAD CHALLENGES, INCLUDING DECLINING TAKE-RATES FOR MANUAL TRANSMISSIONS AND LOWER VOLUMES IN CHINA - CONF CALL

* MAGNA INTERNATIONAL SAYS BUSINESS PLANNING ACTIVITY HAS LED TO LOWER VOLUME AND FREE CASH FLOW PROJECTIONS FOR GETRAG'S JVS, RESULTING IN $537 MILLION IMPAIRMENT CHARGE - CONF CALL

* MAGNA INTERNATIONAL SAYS WOULDN'T ANTICIPATE ANYTHING TO CHANGE MUCH FOR MAGNA IN THE NEAR TERM DUE TO THE FIAT CHRYSLER AND PEUGEOT DEAL - CONF CALL

* MAGNA INTERNATIONAL SAYS GM STRIKE LIKELY TO REDUCE 2019 REVENUE BY ABOUT $500 MILLION - CONF CALL

* MAGNA INTERNATIONAL SAYS GM STRIKE LIKELY TO HAVE A NEGATIVE 30 BASIS IMPACT TO CONSOLIDATED MARGINS FOR 2019 - CONF CALL

* MAGNA INTERNATIONAL SAYS CONTINUED SOFTNESS IN CHINA WILL TRANSLATE INTO SOME HEADWINDS ON EQUITY INCOME POST 2019 COMPARED TO CO'S PRIOR EXPECTATION- CONF CALL

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.