Magna slumps as Q1 profit misses expectations - Magna - TopicsExpress

Magna slumps as Q1 profit misses expectations - Magna International Inc. (TSE:MG) (NYSE:MGA), North Americas largest auto-parts supplier, slipped in early New York trading after posted a lower-than-expected 9 percent increase in profit for the first quarter. Shares fell 1.9 percent to $96.70 at 9:39 a.m. in New York. The stock had gained 20 percent since the beginning of the year through yesterday. Net income advanced to $393 million, or $1.76 per share, in the first... ow.ly/2GtpXW

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