Magna International Inc

TSX:MGCanadaView on NYSE

Nov 5, 2024

Show headlines and story abstract

• DJ Magna International Inc. Stock Rises Tuesday, Still Underperforms Market, from 4:34PM ET on Tuesday Nov 05, 2024 by Dow Jones

  4:34PM ET on Tuesday Nov 05, 2024 by Dow Jones
  Companies Mentioned: MGA, MG
  
  This article was automatically generated by MarketWatch using technology from Automated Insights.
  
  Shares of Magna International Inc. MG inched 0.49% higher to C$58.90 Tuesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index rising 0.54% to 24,387.90.
  

• DJ Magna's Exposure to American Carmakers Seen Adding to Risk -- Market Talk, from 10:44AM ET on Tuesday Nov 05, 2024 by Dow Jones

  10:44AM ET on Tuesday Nov 05, 2024 by Dow Jones
  Companies Mentioned: MGA, MG
  
  1044 ET - Magna International shifting into gear on share buybacks is seen as risky given the supplier's exposure to lagging North American carmakers. The company says it received approval to repurchase about 10% of its public float. S&P Global Ratings says the move will cause Magna's debt to earnings ratio to remain higher for longer. One major risk factor: Magna's revenue growth is expected to slow in the next year, especially given its exposure to Detroit. Geopolitical risks and slower EV adoption are also of concern. S&P revises its outlook on Magna to negative from stable. (ben.glickman@wsj.com; @benglickman)