Shares of Meritor (MTOR +21.1%) soar after the auto industry supplier reports a mild beat with...

|By:, SA News Editor

Shares of Meritor (MTOR +21.1%) soar after the auto industry supplier reports a mild beat with its Q1 profit on markedly lower sales from a year ago. The buying frenzy seems to be tied to an announcement by the company that it will sell its ownership stake in a Brazilian joint venture for $195M in a move aimed at shoring up its balance sheet.