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Loser Stock Alert - (NYSE:DAN) losses narrowed, Shares plunge
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Dana Holding Corporation (NYSE:DAN) reported a third-quarter net loss of $46 million, or 45 cents a share, narrower than the company's loss of $264 million, or $2.66 a share, seen in the same period during 2008. Both quarterly losses included dividend payments on preferred stock amounting to $8 million. The Maumee, Ohio-based supplier of automotive parts had quarterly sales of $1.33 billion, down 31% from the prior year's $1.93 billion. On a quarter-to-quarter basis, sales improved 12%, Dana said. Analysts had been looking for a quarterly loss of 5 cents a share, according to data compiled by FactSet Research.
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DAN is now trading down by 2% at $5.70 , recovered from its morning’s low of $5.35.
Dana Holding Corporation (Dana), formerly known as Dana Corporation, incorporated in 2007, is a supplier of axle, driveshaft, structural, sealing and thermal products for global vehicle manufacturers.
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