Magna International Inc. (MGA) reported fourth quarter EPS of $2.44 Wednesday morning, compared to $2.03 in the prior year. Analysts expected EPS of $2.25.
Magna's Board has approved a two-for-one stock split of the company's outstanding Common Shares, which will be implemented by way of a stock dividend.
Magna International gapped open sharply higher Wednesday and is now up 5.46 at $107.71. The stock has climbed to a month and a half high.
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