Visteon Corp, the auto parts maker, on Tuesday posted a stronger-than-expected quarterly profit and reaffirmed its 2014 financial projections. Net income surged to $513 million, or $10.32 a share, in the fourth quarter, compared with $39 million, or 74 cents a share, in the year earlier period. The most recent period included $465 million in gains related to the sale of the company's stake in a Chinese joint venture.Excluding the gain from the divestiture and one-time costs, the company earned $1.93 a share. Analysts polled by Thomson Reuters I/B/E/S expected $1.45 a share.Sales rose 7.4 percent from the previous year to $1.96 billion, driven by stronger demand in the company's climate business in Asia and North America. Analysts expected $1.93 billion.Visteon said it expects 2014 sales at a midpoint of $7.8 billion and adjusted earnings at a midpoint of $680 million, repeating its forecast from last month. Analysts expect 2014 sales of $7.99 billion and adjusted earnings of $697 million.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.04% or $0.36/share to $34.82. In the past year, the shares have traded as low as $29.89 and as high as $38.73. On average, 738030 shares of TRI exchange hands on a given day and today's volume is recorded at 1022242.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.5% or $0.19/share to $38.54. In the past year, the shares have traded as low as $30.75 and as high as $42.10. On average, 928524 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1857093.
Visteon Corporation (Visteon) is a global supplier of climate, electronics and interiors systems, modules and components to automotive original equipment manufacturers (OEM), including BMW, Chrysler, Daimler, Ford, General Motors, Honda, Hyundai, Kia, Nissan, PSA Peugeot Citroen, Renault, Toyota and Volkswagen. Shares of VC traded higher by 1.07% or $0.91/share to $85.61. In the past year, the shares have traded as low as $52.26 and as high as $88.74. On average, 621674 shares of VC exchange hands on a given day and today's volume is recorded at 859393.
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