Why Shares in BorgWarner Surged in May
Shares of automotive technology company BorgWarner (NYSE: BWA) rose 12.5% in May, according to data from S&P Global Market Intelligence. While it's hard to get too triumphant about a company set for a full-year organic revenue decline of 20%-27% based on management's guidance, there were four positives for the stock in May.
First, the company announced its first-quarter earnings at the start of May, and even though its organic year-over-year sales declined 8.1% in the quarter, it was a much better performance than the 19.6% decline in industry production. Consequently, management expects to continue to outperform its end market in 2020, with anticipated production declines in its end markets of 25%-31%.
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Source Fool.com
