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Ahead of the Bell: O’Reilly Automotive downgraded (AP)
27th February 2009
A Deutsche Bank analyst downgraded auto parts retailer O’Reilly Automotive Inc. Friday, arguing that there is little upside to the stock at its current price.
LKQ Corp., a maker of vehicle replacement parts, said Thursday profit dropped 40 percent in the fourth quarter, due mostly to extreme volatility in commodity prices.
Lear Corp. reported Friday that its annual report will be filed late and will likely include a statement from its public accounting firm on whether the auto parts supplier can continue as a going concern.
An electronics maker is under court order to continue delivering parts to Visteon Corp., despite concerns about the Michigan company’s finances.
Fitch Ratings on Thursday lowered its ratings on auto parts maker TRW Automotive Holdings Corp., citing the turmoil in the automotive industry.