Sunday, February 28, 2010

Visteon (VSTNQ) up 375% Friday

Visteon (VSTNQ) at 0.34 is one of the world's largest suppliers of automotive parts. Visteon is to the Ford Motor Company as Delphi is to General Motors and Denso is to Toyota.

Visteon, spun off from Ford Motor Co (F.N) in 2000, filed for bankruptcy protection in June, one of the casualties of the global auto industry crisis that forced General Motors Co and Chrysler to restructure in bankruptcy. Visteon listed total assets of $4.58bn and total debts of $5.32bn.

VSTNQ, the maker of automotive climate systems, interiors and electronics is now benefiting from cost cuts made during bankruptcy restructuring and fast sales recovery at its top two automaker customers: Ford and Hyundai Motor Co.

Friday, 2-26-10 The Company released this announcement:

-DETROIT, Feb 26 (Reuters) - Bankrupt U.S. auto parts maker Visteon Corp (VSTNQ) reported a fourth-quarter profit on Friday, reaping the benefits of cost reductions as global vehicle production volumes recovered.
Net income was $276 million in the quarter, or $2.12 per share, compared with a year-ago loss of $346 million, or $2.67 per share. Last year's results included $200 million of asset-impairment charges. Sales rose 23 percent to $2.03 billion. VSTNQ has outstanding 130,324,581 shares of common stock. For all of 2009, Visteon earned $184 million, or 98 cents per share.
We feel VSTNQ could trade above $1.00 next week as traders speculate on what a post bankruptcy VSTNQ could look like. In late January HCKI announced they would soon emerge from Chapter 11 and the stock rocketed up +7,319.98% !

Add VSTNQ to your watch list. You can start your research here:
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