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American Axle Shares Hit By Weak Earnings

Shares of American Axle & Manufacturing Holdings Inc. fell as much 8% Friday after the car-parts maker swung to a third-quarter loss, weighed down by a raft of charges ranging from plant closures to new product launches. The company said it lost $8.1 million, or 11 cents, in the latest quarter. Gross margins narrowed to 12.9% from 16% a year ago. Excluding debt refinancing and restucturing costs, the company's adjusted earnings were 7 cents a share on $703 million in revenue. Analysts polled by FactSet had expected the company to earn 33 cents a share on $678 million in revenue. American Axle shares were last down 5% at $10.98. They are up 17% from where they traded a year ago.Copyright © 2012 MarketWatch, Inc....

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  2. How Can America Regain its Economic Competitiveness?

    American Axle & Manufacturing CEO Richard Dauch on what is needed to boost the U.S. economy.

  3. Auto suppliers' 2011 forecasts disappoint

    By Deepa SeetharamanSome major U.S. auto parts makers projected disappointing full-year outlooks on Friday and said the rebound in the auto industry could be more te...

  4. Good times roll for auto suppliers

    By Ben KlaymanDETROIT (Reuters) - Major auto suppliers blew past profit expectations on Friday, suggesting the recovery in the global auto market remains strong desp...

  5. Auto Sector Retreats In Wake Of Ford Report

    SAN FRANCISCO -- Ford Motor Co.'s surprising profit drop and subsequent stock retreat on Friday led the broader auto sector deep into the red with the rest of the eq...

  6. American Axle 3Q Revenue Gains on Climbing SUV Demand

    American Axle & Manufacturing (NYSE:AXL) nearly doubled its third-quarter profit on rebounding demand for full-size pickups and SUVs.The Detroit-based company posted...

  7. White House believes U.S. auto industry can grow

    WASHINGTON (Reuters) - The Obama administration believes the recovery of the U.S. auto industry can be sustained and that it has the potential to grow.Senior White H...

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