August 8, 2018 / 2:34 PM / in 3 months

BUZZ-Magna International: Plunges on North America production forecast cut

** Canadian auto parts maker’s shares down 7.6 pct at C$71.02 on the Toronto Stock Exchange; hits more than a 6-month low

** Co cuts full-year light vehicle production forecast for North America, posts Q2 adj profit below analyts’ estimates

** Expects North America production at 17.2 mln, down from previous view of 17.3 mln

** Outlook cut in part due to impact of tariffs imposed by the Trump administration

** More than 652,875 shares traded, 0.6 times their 30-day moving avg

** Co’s U.S. listed shares down 8.1 percent at $54.42

** Up to Tuesday’s close, stock had risen nearly 5 pct YTD (Reported by Laharee Chatterjee in Bengaluru)

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