BorgWarner Inc, which makes automotive turbochargers and emissions systems, posted a higher-than-expected quarterly profit on Thursday on strong demand for all-wheel drive systems, dual clutch transmission modules and other parts in its drivetrain business.The auto parts maker, whose shares rose 1.5 percent in morning trading, also reiterated the full-year profit outlook it provided last month, although Morgan Stanley analyst Ravi Shanker called the margin forecast very conservative."The bad news in the results was the ongoing softness in the core engine business," Shanker said in a research note. "The good news was the continued strength of drivetrain."The Auburn Hills, Michigan-based company is one of the biggest suppliers of turbocharging technology, which automakers have been using to boost fuel economy and meet upcoming federal standards for mileage.
BorgWarner Inc. is a global supplier of engineered automotive systems and components primarily for powertrain applications. Shares of BWA traded higher by 1.55% or $0.86/share to $56.30. In the past year, the shares have traded as low as $35.22 and as high as $57.29. On average, 1454630 shares of BWA exchange hands on a given day and today's volume is recorded at 480879.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 1.09% or $-0.33/share to $29.83. In the past year, the shares have traded as low as $20.16 and as high as $33.52. On average, 12207900 shares of MS exchange hands on a given day and today's volume is recorded at 4760739.
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