Lear ( LEA) will meet or beat its earlier earnings forecast of $1.20 to $1.30 a share for the fiscal second quarter, the auto parts supplier said Friday. The company's full-year earnings outlook remains unchanged, at $4.85 to $5.25 a share. The company earned $1.27 a share in the year-ago second quarter. "Although several North American and European automakers have cut second-quarter production schedules, we incorporated these actions in our prior earnings guidance," Lear said in a press release. On Thursday, Delphi ( DPH), another auto parts maker,
lowered its second-quarter earnings forecast citing weak demand and production volumes. Shares of Lear lost 3.4% to $43.50. Delphi closed down 10.5% to $8.58.