GM Lifts on American Axle Labor Deal - TheStreet

GM Lifts on American Axle Labor Deal

Shares of the automaker lift Monday on late Friday news of a tentative labor agreement at the auto systems manufacturer.
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Updated from 8:12 a.m. EDT

American Axle Manufacturing

(AXL) - Get Report

has struck a tentative agreement with the United Autoworkers that would end a costly strike.

The news, announced over the weekend, sent shares of automaker

General Motors

(GM) - Get Report

trading higher Monday.

The union announced the deal late Friday and said it would present details of the agreement to members at a meeting on Sunday. UAW members will vote Monday and Thursday of this week on the deal.

The auto components and systems maker is a key supplier to GM. Last month, American Axle blamed the strike, which began in February, for its

first-quarter loss.

Shares of GM were recently climbing 32 cents, to $21.00. American Axle shares are trading around $22.69 and

Ford

(F) - Get Report

shares were flat on the day.

This article was written by a staff member of TheStreet.com.