Magna International Inc. (MGA) shares are trading higher on Friday morning as the company reported a surge in its fourth-quarter earnings.
Net income attributable to the company increased to $738 million from $440 million in the prior year. On a per-share basis, earning were $2.45, up from $1.43 last year.
Sales for the quarter also increased to $10.56 billion from $9.39 billion a year ago.
The stock is trading currently at $82.02, up 8.71 percent from the previous close of $75.45. It has traded in a range of $22.75-$83.34 on average volume of 1,296,500 for the last 52-week period.
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