The North American automotive sector is facing a severe test, as increased tariffs on parts from Mexico and Canada threaten to dramatically escalate production costs, potentially inflate vehicle prices for consumers, and squeeze already tight profit margins for manufacturers. This unfolding situation, marked by fluctuating trade policies and geopolitical leverage,
MGA stock shows strong breakout potential with a Technical Rating of 8 and Setup Rating of 9, offering a low-risk entry above $42.62. Ideal for trend traders.
Magna International (NYSE: MGA) shares rose after beating analyst estimates with a 3% decline in quarterly revenue due to lower vehicle production in North America and Europe. The company is on track for solid execution and raised its sales outlook for fiscal 2025.
Magna International (NYSE: MGA) stock dipped after Q1 FY25 results showed an 8.2% revenue drop to $10.07B, despite beating estimates. Declines in global auto production hit key segments.
Magna International reported a 2% year-on-year sales growth for Q4 FY24, reaching $10.63 billion, surpassing expectations. Adjusted EPS of $1.69 exceeded the consensus of $1.52.
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