BorgWarner Soars Most Since 2009 on Annual Profit Forecast
Jan. 10 (Bloomberg) --BorgWarner Inc., a maker of turbochargers, rose the most in more than two years after forecasting annual profit that topped analysts’ estimates.
BorgWarner advanced 7.9 percent to $72.25 at the close in New York, the biggest gain since April 2009.
BorgWarner, whose products help automakers improve fuel economy by powering smaller engines, said in a statement today that profit this year will be $5.35 to $5.65 a share. That tops the $5.17 average estimate of 19 analysts tracked by Bloomberg.
“Demand for our product technologies that improve fuel economy, emissions and performance, continues to accelerate around the globe,” Tim Manganello, BorgWarner’s chief executive officer, said in the statement.
Dana Holding Corp. (DAN), a Maumee, Ohio-based maker of truck axles and frames, rose the most in more than three months after saying in a statement today that adjusted profit for 2012 will be $1.95 to $2.05 a share. The average estimate of 12 analysts surveyed by Bloomberg was $1.88.
Dana climbed 8 percent to $14.19, the biggest gain since Oct. 4.
“These targets are aggressive but achievable, and backed by aggressive but disciplined operating plans,” Roger Wood, Dana’s CEO, said in the statement.
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