News: Magna International Inc (MGA.N)

Fri, May 10 2013

CANADA STOCKS-Magna and Bombardier drive TSX higher

* TSX rises 45.19 points, or 0.36 percent, to 12,589.09 * Eight of 10 main index sectors advance * Magna jumps after results * Chorus Aviation tumbles after dividend cut, results By Cameron French TORONTO, May 10 - Canada's main stock index pushed higher on Friday as strong energy issues and surging shares of manufacturers Magna International and Bombardier Inc helped extend the index's three-week run of gains. Auto parts maker Magna provided the index with i

Magna stock hits record high as profit beats, outlook raised

TORONTO - Magna International Inc shares hit a record high on Friday as the Canadian auto parts maker hiked its full-year sales forecasts after posting a better-than-expected profit and a 9 percent rise in revenue in the first quarter.

UPDATE 2-Magna stock hits record high as profit beats, outlook raised

* 2013 sales outlook raised to between $32.6 bln and $34 bln

CANADA STOCKS-TSX steady as Magna gain offsets drop in gold shares

* TSX rises 5.42 points, or 0.04 percent, to 12,538.48 * Six of 10 main sectors advance; Magna jumps after results * Gold shares slip as bullion price drops to 2-week low * Chorus Aviation tumbles after dividend cut, results By John Tilak TORONTO, May 10 - Canada's main stock index was little changed on Friday as a jump in shares of auto parts maker Magna International Inc after its quarterly results offset weakness in gold stocks. Shares of gold producers slum

CANADA STOCKS-TSX turns higher as Magna offsets fall in golds

TORONTO, May 10 - Canada's main stock index turned positive in early Friday trade as a jump in shares of Magna International Inc after the auto parts maker reported results offset weakness in materials and energy stocks. The Toronto Stock Exchange's S&P/TSX composite index was up 9.98 points, or 0.08 percent, at 12,553.88.

Magna profit up due to strong North America sales

May 10 - Canadian auto parts maker Magna International Inc posted an 8 percent rise in first-quarter profit due to strong sales in North America.

Canada's Magna to cut jobs in Europe, U.S. - report

FRANKFURT, May 4 - Canadian auto parts maker Magna International plans to cut jobs in Europe and the United States as it seeks to reduce costs and offset weak demand in Europe, Chief Executive Donald Walker told German magazine WirtschaftsWoche.

UPDATE 1-Magna Ontario auto plant resumes production after blast

May 1 - Magna International Inc said on Wednesday it is resuming operations at a Toronto-area auto parts plant that was earlier shut down by an explosion and fire that injured nine people.

Nine injured in explosion at Magna Ontario plant -police

May 1 - Nine people were injured in an explosion and fire on Wednesday at an auto parts plant in Newmarket, Ontario, owned by Magna International Inc, local police said.

Magna lifts outlook, dividend after topping forecasts

TORONTO - mgCanadian auto parts maker Magna International Inc raised its full-year sales forecast on Friday and sweetened its quarterly dividend after a fourth-quarter performance that beat expectations.

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