BorgWarner and 2 Stocks Leading the S&P 500 Rally
The S&P 500 (NYSEARCA:SPY) is up 0.8% to 1,291. Investors appear to be pushing stocks back to a level reflecting optimism. Here are today’s top performing companies on the index.
Tim Manganello, BorgWarner Inc. (NYSE:BWA) Chairman and CEO, says “In 2012, we expect another record year for sales and earnings. Our strong backlog of net new business is expected to drive sales growth of 10% to 12% in 2012 compared with 2011. Excluding the negative impact of foreign currencies, our sales growth is expected to be 14% to 16% while global light vehicle production is expected to grow only 6%, and European light vehicle production is expected to decline approximately 4%, during the same period. Demand for our product technologies that improve fuel economy, emissions and performance, continues to accelerate around the globe. An estimate of earnings growth of 23% to 27% compared with 2011 earnings guidance of $4.35 to $4.45 per diluted share, due to BorgWarner Inc. providing 2012 positive earnings guidance of $5.35 to $5.65 per diluted share has been projected.
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A new benchtop Ion Proton Sequencer that is designed to sequence the entire human genome in a day for $1,000. Life Technologies (NASDAQ:LIFE) announced it is taking orders for this new product.
Cetera Financial Group has agreed to purchase Genworth Financial Investment Services — the tax and accounting financial advisor unit of Genworth Financial (NYSE:GNW). The anticipated transaction will be closed in approximately 90 days, subject to customary closing conditions and regulatory approvals.
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