Summary
DETROIT -- The nation's biggest auto-parts suppliers reported second-quarter losses Monday, citing high labor costs and production cuts by ailing domestic automakers. Delphi Corp. said it's considering bankruptcy, but Visteon Corp.'s outlook is brighter as it approaches a major restructuring next month.
Delphi shares fell more than 12 percent in morning trading before rebounding. They were up 7 cents, or 1.4 percent, to close at $5.03 Monday on the New York Stock Exchange. Visteon shares surged $1.34, or 16 percent, to close at $9.85.See the full content of this document
Extract
Auto-Parts Suppliers See Losses
Troy-based Delphi, the largest U.S. auto supplier, posted a loss of $338 million, or 60 cents per share, versus a prior-year profit of $143 million, or 25 cents per share. Revenue fell to $7 billion from $7.5 billion a year ago...
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