Welcome to our dedicated page for Magna International news (Ticker: $MGA), a resource for investors and traders seeking the latest updates and insights on Magna International stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Magna International's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Magna International's position in the market.
Magna International Inc. (TSX: MG; NYSE: MGA) reported first quarter 2024 results with sales up 3% to $11.0 billion, diluted earnings per share at $0.03, and adjusted diluted earnings per share at $1.08. The company recorded asset impairments and restructuring costs related to Fisker, paid dividends of $134 million, and maintained its 2024 Adjusted EBIT Margin Outlook range of 5.4%-6.0%.
Magna has won the 2024 Automotive News PACE Award and received multiple PACEpilot Innovation to Watch recognitions. The company's Integrated Driver & Occupant Monitoring System, EcoSphere 100% Melt-Recyclable Foam and Trim, and Modular & Scalable Active Grille Shutter Assembly were recognized for their innovation and sustainability. Magna was the only company to receive both a PACE Award and multiple PACEpilot Awards.
