Why Auto Parts Stocks Popped (and Dropped) Today

Over the last 18 hours, three of the biggest names in car parts have reported their results, with Magna International (NYSE: MGA) delivering a positive earnings surprise and American Axle & Manufacturing Holdings (NYSE: AXL) beating on sales, but Fox Factory (NASDAQ: FOXF) reporting an earnings miss Thursday night. As of 10:15 a.m. ET Friday, Magna stock is up a strong 13.8%, and American Axle has gained a bit more at 14.2%. Friday morning, Magna International reported profits of $1.37 per share on third-quarter sales of $10.7 billion.

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