Shares of BorgWarner Inc. (NYSE:BWA) ended Monday session in red amid volatile trading. The shares closed down -0.33 points or -0.95% at $34.56 with 2.10 million shares getting traded. Post opening the session at $35.27, the shares hit an intraday low of $34.46 and an intraday high of $35.57 and the price vacillated in this range throughout the day. The company has a market cap of $7.36 billion and the numbers of outstanding shares have been calculated to be 214.27 million shares.
BorgWarner Inc. (BWA) announced the following Webcast:
What: BorgWarner 2016 Third Quarter Results Conference Call
When: October 27 @ 9:30am Eastern Time
How: Live over the Internet — Simply log on to the web at the address above.
If you are unable to participate during the live webcast, the call will be archived at (http://www.borgwarner.com/en/Investors/default.aspx)
Shares of Sorl Auto Parts, Inc. (NASDAQ:SORL) ended Monday session in green amid volatile trading. The shares closed up +0.67 points or 17.63% at $4.47 with 1.87 million shares getting traded. Post opening the session at $3.91, the shares hit an intraday low of $3.87 and an intraday high of $4.60 and the price vacillated in this range throughout the day. The company has a market cap of $93.42 million and the numbers of outstanding shares have been calculated to be 19.30 million shares.
Sorl Auto Parts, Inc. (SORL) on Aug. 15, 2016 announced its unaudited financial results for the second quarter of 2016 and the first six months ended June 30, 2016.
Second Quarter 2016 Financial Highlights
- Sales increased 24.0% to $73.5 million compared with $59.3 million in the second quarter last year;
- Gross margin was 28.0% in the second quarter of 2016 compared to 27.9% in the same period of 2015;
- Income from operations increased 190.6% to $7.7 million from $2.6 million in the same quarter last year;
- Net Income attributable to stockholders climbed 220.0% to $7.2 million, or $0.37 per diluted share from $2.3 million, or $0.12 per diluted share, in the second quarter of 2015.
Mr. Xiaoping Zhang, SORL’s Chief Executive Officer and Chairman, stated, “We are pleased that our sales growth accelerated in the OEM and aftermarket in China despite the continuing slow growth of the Chinese economy. Our sales growth outperformed overall commercial vehicle market in the second quarter of 2016 as we significantly increased our market share.”
“We continue to benefit from our ongoing development of new products and systems to capture new market opportunities and win new customers. To augment our growth, we have been investing in products for the end markets that will benefit from the Chinese Government’s policies, such as public housing, transportation, and railways,” Mr. Zhang concluded.