Magna International Inc.
 (MGA)

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  • Jan. 11, 2012, 8:39 AM

    American Axle (AXL) joins peer Magna (MGA) in forecasting increased 2012 revenue, saying sales will rise to $2.8B-$2.9B vs. Street estimates of $2.8B. The figure would beat projected revenue of $2.6B in 2011, which is in line with consensus. (PR)

    | Jan. 11, 2012, 8:39 AM
  • Jan. 11, 2012, 6:29 AM

    Magna (MGA) forecasts that 2012 revenues will rise to $27.8B-$29.3B from a projected $25.6B-$27.1B last year, boosted by growth opportunities in new markets. The autoparts giant also predicted an increase in margins to 5% from 4.75%. (PR)

    | Jan. 11, 2012, 6:29 AM
  • Nov. 3, 2011, 6:32 AM
    Magna International (MGA): Q3 EPS of $0.94 misses by $0.05. Revenue of $6.9B (+21% Y/Y) beats by $0.2B. (PR)
    | Nov. 3, 2011, 6:32 AM
  • Nov. 3, 2011, 12:05 AM

    Notable earnings before Thursday's open: AGU, ANF, ANR, APA, ARIA, BEAM, CNQ, CVS, DNR, DTV, DUK, EGO, EL, FIG, FTR, HCN, K, LAMR, LXP, MFA, MFC, MGA, MGM, MT, NNN, NRG, NYX, PCG, PGN, PNM, PPL, REGN, RGLD, SE, SLE, SNI, SPR, SRE, SU, TDC, TEL, TS, VRX, WNR, XEC

    | Nov. 3, 2011, 12:05 AM
  • Oct. 13, 2011, 6:58 AM

    Magna (MGA) says it will cooperate with a DOJ antitrust probe of the automobile tooling industry, and will turn over documents related to bids its Cosma International unit made acting as a Tier 1 supplier.

    | Oct. 13, 2011, 6:58 AM
  • Aug. 8, 2011, 7:47 AM

    Shares of Magna (MGA) fell 10.9% Friday on a weak Q2 earnings report, but Deutsche Bank reiterates at Hold with only a $2 haircut on its price target to $55 from $57. UBS says margin guidance issued by the firm will push consensus estimates lower, an expectation that may already be baked into the share price.

    | Aug. 8, 2011, 7:47 AM
  • Jun. 2, 2011, 4:56 PM
    Yesterday's selloff feels like a "capitulation" to JPMorgan, confirming its view that summer weakness would be “front-end loaded.” It likes these 20 stocks for a summer rally: DAL, UAL, X, KGC, NEM, RHI, GM, MT, FCX, NUE, BRCM, GG, COL, IPG, MGA, APOL, SYMC, LVS, LINTA, CLF.
    | Jun. 2, 2011, 4:56 PM | 6 Comments
  • May 16, 2011, 9:39 AM

    "Ford's (F +1.3%) pricing and product momentum deserves a premium, not a discount," Citigroup says in upgrading shares to Buy from Neutral. Despite Citi's view that Ford would benefit from Japan-related pricing/share gains, the stock has dropped 10% YTD, underperforming the S&P and auto suppliers. Also, Citi downgrades parts supplier Magna (MGA -3.1%).

    | May 16, 2011, 9:39 AM | 1 Comment
  • Apr. 1, 2011, 12:31 PM
    After starting with a tool & die shop in a Toronto garage and building Magna (MGA) into an auto parts giant large enough to nearly buy out Chrysler and Opel, Frank Stronach announces his retirement as Chairman. "There’s only (3 Canadian firms) that really make a difference globally ... RIM, Bombardier and Magna."
    | Apr. 1, 2011, 12:31 PM
  • Nov. 16, 2009, 9:46 AM

    Germany's promise to provide state aid to GM's European arm Opel no longer applies after GM backed out of the Magna International (MGA)-led, government-backed deal to take over the carmaker, German Economy Minister Rainer Bruederle says. "GM Chairman Ed Whitacre has said that his company can handle Opel, so this means that agreements and pledges that were based on other concepts are moot."

    | Nov. 16, 2009, 9:46 AM | 1 Comment
  • Nov. 6, 2009, 10:40 AM
    GM Europe chief Carl-Peter Forster - who assured the industry that the automaker would close its sale of Opel, just before GM said it was keeping the unit instead - is leaving the company. Forster was expected to run the independent Opel after the planned sale to Magna (MGA).
    | Nov. 6, 2009, 10:40 AM
  • Nov. 4, 2009, 12:22 PM
    Analysts say the decision to hold on to Opel makes strategic sense for GM, especially now that it has unloaded its bad assets in North America. Still, GM will need to push for a deeper restructuring of Opel than thwarted suitor Magna (MGA) had planned if it wants to revive the unit.
    | Nov. 4, 2009, 12:22 PM
  • Nov. 4, 2009, 8:23 AM
    German officials were outraged by GM's surprise decision to keep Opel, abandoning a long-expected sale to a Magna- (MGA) led group that the German government had agreed to back with €4.5B of state aid. GM said improving business conditions and the strategic importance of Opel had prompted the move, and expects restructuring Opel to cost about €3B.
    | Nov. 4, 2009, 8:23 AM | 3 Comments
  • Nov. 3, 2009, 5:03 PM
    GM's board decides to restructure and keep Opel, undoing months of negotiations with a Magna- (MGA) led group. GM's board meeting came after the EU asked it to confirm it would still have sold Opel to Magna had it known the €4.5B in German aid would go to any buyer.
    | Nov. 3, 2009, 5:03 PM | 4 Comments
  • Oct. 23, 2009, 10:43 AM
    John Smith, GM's chief negotiator on its Opel deal with Magna International (MGA), blogs that the sale won't be completed this week, since the GM board needs to discuss new developments at its Nov. 3 meeting. A few details remain to be ironed out with Russia's Sberbank, and GM hopes to assure the German economy minister that the Magna selection wasn't political.
    | Oct. 23, 2009, 10:43 AM | 2 Comments
  • Oct. 17, 2009, 7:21 PM

    German economy minister Karl-Theodor zu Guttenberg says he's confident he can put to rest the EU's concerns over a sale of GM's Opel to Magna International (MGA). Late Friday, EC's Competition Commissioner said she had serious concerns about Germany's offer to provide €4.5B in aid.

    | Oct. 17, 2009, 7:21 PM
Company Description
Magna International Inc is an automotive supplier. Its product capabilities include chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules and complete vehicle engineering and contract manufacturing.
Industry: Auto Parts
Country: Canada