VC - Why Visteon Stock Soared Today
Shares of Visteon (NASDAQ: VC) jumped double digits today after the automotive supplier focusing on cockpit electronics reported its fourth-quarter and full-year results this morning. Shares popped as much as 15% earlier in the day, and remained up 12.4% as of 3:36 p.m. ET.
Visteon reported flat sales for the quarter compared with last year. But it noted that this was in effect a gain of 15% above market as measured against its customers' automotive production, which declined that amount quarter over quarter. The company closed out the year with a 7% jump in sales, even with customer production dropping 2% for the year.
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Why Visteon Stock Soared Today