✉news LifeAutos first seen 13 h ago, last 13 h ago, peak #22
Auto parts giant's shares slide on report of $6.3bn charge
Original: Auto parts giant’s shares slide on report of $6.3bn charge
Shares of a major auto parts supplier fell after a report that the company is preparing to book a charge of about $6.3 billion. The writedown would mark one of the larger charges in the sector recently, and investors reacted by selling the stock. Details on the exact cause of the charge and which divisions it affects remain limited in the initial report.
Why now: A multibillion-dollar charge at a major auto supplier is material news for investors and the wider autos industry.
Evidence
- Auto parts giant’s shares slide on report of $6.3bn charge · Financial Times
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