NEW YORK (
) -- Global auto-parts manufacturers took a beating on Thursday after a spate of mixed economic news hit the broader market and a bout of profit-taking ahead of the shortened holiday week.
tumbled by $1.24, or 7.30%, to $15.74 near the end of the closing session, a day after the company announced a public offering of common stock at $16.50. The three-month average daily volume for Tenneco is 1.2 million. Today's volume ballooned to nearly 12 times that average.
( ARM) dropped by 38 cents, or 4.2%, to $8.61 after it announced a net loss of $1.2 billion for fiscal year 2009. It was an extremely difficult year for the Arvinmeritor, where substantial deterioration of the global credit markets and global economic downturn severely hurt the industries it sells to.
dropped by $1.70, or 4.1%, to $39.91 even after its CEO told Reuters that vehicle production was holding up well in the fourth quarter. Autoliv said on Tuesday it has agreed to buy North American air-bag, seat-belt and steering-wheel assets from Delphi.
fell by 21 cents, or 1.31%, to $15.85 a day after the company announced that it had developed a heat exchanger to extend battery life in hybrid and electric vehicles and said the day before that it is supplying "green" cylinder-head covers made from recycled material for Ford 3.0-liter Duratec engine.
slid by 98 cents, or 3.1%, to $30.81, despite announcing on Monday that it expected $1.8 billion of new power-train business driven by a growing demand for environmentally friendly technologies.
-- Reported by Andrea Tse in New York
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