Magna International Inc. (MGA) reported fourth quarter net income of $1.49 per share Friday morning, up from $1.32 per share last year. The consensus estimate was for EPS of $1.14.
Magna International rose sharply during the first hour of trade Friday, before settling into a range. The stock closed up by 2.29 at $55.51 on strong volume and surged to a new high for the year.
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