Why Shares of Delphi Technologies Fell Today
Shares of Delphi Technologies (NYSE: DLPH) traded down more than 6% on Friday, as investors continued to digest the automotive supplier's weaker-than-expected earnings and a potential escalation of the trade battle between the U.S. and China. With the drop, shares have now lost more than 14% over two trading sessions, erasing most of the gains the stock enjoyed earlier in the year.
On Aug. 1, Delphi reported second-quarter earnings of $0.58 per share on revenue of $1.12 billion, falling short of analyst expectations for $0.61 per share in earnings on revenue of $1.14 billion. The company has generated revenue of $2.3 billion year to date, down 10% year over year (down 6% on a constant currency basis).
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