Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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.

Profit last year was $4.35 to $4.45 a share, the company said in the statement. BorgWarner, based in Auburn Hills, Michigan, hasn’t released full 2011 financial results.

Dana Holding Corp., 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.

To contact the reporter on this story: Mark Clothier in Detroit at mclothier@bloomberg.net

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.