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Magna International Inc. - MGA STOCK NEWS

Welcome to our dedicated news page for Magna International (Ticker: MGA), a resource for investors and traders seeking the latest updates and insights on Magna International.

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.

News
Magna Announces Date for Q1 2024 Results Call
Rhea-AI Summary
Magna International Inc. announces the date for its Q1 2024 results call on May 3, 2024, at 8:00 AM ET. The webcast registration link is provided, along with dial-in details for participants. A slide presentation will be available on the company's website before the call. The replay will be accessible for two hours after the call until May 10, 2024. Investor and teleconference contact information is also provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.73%
Tags
earnings
-
News
Magna Posts 2023 Annual Report
Rhea-AI Summary
Magna International Inc. releases its 2023 Annual Report, highlighting financial statements, upcoming shareholders meeting, and available documents online. The company emphasizes its global presence and innovation in the mobility technology sector.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.11%
Tags
none
-
News
Magna Announces Senior Notes Offering
Rhea-AI Summary
Magna International Inc. announces an underwriting agreement for U.S.$400 million senior unsecured notes due 2029, with an annual interest rate of 5.050%. The notes are intended for general corporate purposes, including debt repayment. The offering is expected to close on March 14, 2024, with BNP Paribas, BofA Securities, and Citigroup as joint book-running managers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
Tags
none
News
General Motors, Magna, and Wipro Team Up to Develop Automotive Software Marketplace: ‘SDVerse’
Rhea-AI Summary
General Motors, Magna, and Wipro team up to develop SDVerse, a B2B sales platform for automotive software. The platform aims to revolutionize software sourcing by connecting buyers and sellers through a transparent digital marketplace. Prashant Gulati appointed as CEO. Key industry players support the initiative. SDVerse offers benefits like reduced costs, improved software quality, and resource allocation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.22%
Tags
none
-
News
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Rhea-AI Summary
Magna International Inc. announces a Normal Course Issuer Bid to purchase up to 300,000 Common Shares, representing 0.11% of its public float. The Bid aims for share cancellation, stock-based compensation, and profit sharing plan obligations. The Bid starts on February 15, 2024, and ends on February 14, 2025, with purchases made on TSX and NYSE.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.15%
Tags
none
-
News
CORRECTION – Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Rhea-AI Summary
Magna International Inc. (MGA) reports strong financial results for Q4 2023 and FY 2023, with sales increasing by 9% to $10.5 billion and 13% to $42.8 billion respectively. Adjusted EBIT and diluted earnings per share show significant growth. The company expects sales to outgrow global light vehicle production and aims for an expanded Adjusted EBIT Margin by 2026.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.72%
Tags
earnings
News
Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Rhea-AI Summary
Magna International Inc. reported a 9% increase in sales to $10.5 billion in the fourth quarter of 2023, with a 4% increase excluding foreign currency translation and acquisitions net of divestitures. Diluted earnings per share and Adjusted diluted earnings per share also increased to $0.94 and $1.33, respectively. The company raised its quarterly cash dividend to $0.475 per share and expects sales to continue to outgrow global light vehicle production through the outlook period. Adjusted EBIT Margin is projected to expand by 180 basis points or more by 2026 to a 7.0-7.7% range.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.8%
Tags
earnings
-
News
Magna Awarded Specialized eDrive System Business With North America-Based OEM
Rhea-AI Summary
Magna has been awarded a contract to supply a specialized primary rear eDrive system for a high-end niche vehicle platform, reflecting the company's commitment to supporting the automotive industry's electrification needs. The system, a variant of Magna’s 800V eDS Duo, delivers 726 kW of power and 8,000 Nm of torque, integrating two e-motors, two inverters, and two gearboxes into a single package. The award showcases Magna’s expertise in electric powertrain system engineering and integration, with serial production scheduled to start within the next few years at Magna’s facility in Ramos, Mexico.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3%
Tags
none
-
News
Magna Announces Date for Q4 & Year End 2023 Results and 2024 Outlook Conference Call
Rhea-AI Summary
Magna International Inc. has announced the date for their Q4 & Year End 2023 results and 2024 outlook conference call, scheduled for February 9, 2024, at 8:00 AM ET. The call will be accessible via dial-in numbers and webcast, with a slide presentation available on their website. A replay will be available for two weeks after the call. Investor and teleconference contact details are also provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.1%
Tags
none
News
Magna Unveils Next Generation eDrive at CES 2024
Rhea-AI Summary
Magna unveils next generation 800V eDrive solution at CES 2024, setting new standards in efficiency, power-to-weight ratio, and torque density. The system offers enhanced flexibility, significant reductions in weight and size, and up to 93% efficiency in real-world driving. The product can serve as a primary or complementary secondary drive solution with optional eDecoupling, delivering a peak power of 250 kW and a peak axle torque of 5,000 Nm.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.92%
Tags
none
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Magna International Inc.

NYSE:MGA

MGA Rankings

#648 Ranked by Market Cap
#2992 Ranked by Stock Gains
#596 Ranked by Dividends

MGA Stock Data

14.41B
286.32M
6.19%
74.42%
3.42%
Motor Vehicle Gasoline Engine and Engine Parts Manufacturing
Manufacturing
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Canada
Aurora

About MGA

magna international stanztechnik gmbh automobiltechnik dürbheim is a management consulting company based out of 8 in breiten, dürbheim, germany.