Why Meritor (MTOR) Stock Closed Higher on Thursday

NEW YORK (TheStreet) --Shares of Meritor Inc. (MTOR) closed higher by 8.38% to $14.74 on Thursday as the stock traded on heavy volume.

Shares rose after Eaton Corp. Plc  (ETN) was denied its motion for a summary judgement against Meritor in its antitrust case with the global supplier of integrated systems and components to original equipment manufacturers.

A Delaware District Court is currently listening to pre-hearing arguments, with an 8-day damages trial set to begin on June 23, reports Benzinga.com

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Separately, TheStreet Ratings team rates MERITOR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate MERITOR INC (MTOR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and increase in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."

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