Magna International Inc

MGA: XNYS (USA)
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Magna Earnings: Solid Performance Does Not Merit a Stock Decline, in Our View

Magna's stock closed down 4.5% in May 1 trading after the firm reported first-quarter adjusted diluted earnings per share of $1.38 that beat the $1.01 LSEG consensus. Management maintained full-year adjusted EPS guidance and repurchased $440 million of stock plus another $136 million in April.

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