09:07 AMGoldman goes bullish on the U.S. auto sector, raising its view to Attractive from Neutral and saying any weakness is an opportunity to build positions. Improved affordibility and significant pent-up demand will offset higher gas prices, firm says, upgrading ArvinMeritor (ARM) to buy. Premarket: ARM +14.6%.
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17:05 PMArvinMeritor (ARM): FQ2 EPS of -$0.12 vs. consensus of -$0.68. Revenue of $1.1B (-38.2%) vs. $1.24B. Total exposure to Chrysler: $7M. +7.4% AH. (PR)
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11:23 AM
Sources say the $5B in aid to auto-parts suppliers will come "from a pool of money to be distributed by automakers." Last month the Original Equipment Suppliers Association said that up to 1/3 of America's 4,000 supplies face "imminent financial distress." A smattering: TRW +29%. JCI +5.6%. NOBL +57%. ARM +31%.
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Wednesday, February 4, 2009
08:13 AMArvinMeritor (ARM): FQ1 EPS of -$0.77 misses by $0.71. Revenue of $1.4B (-15.8%) vs. $1.1B. (PR)
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