Visteon, which was spun off from Ford Motor Co. (NYSE: F) in 2000, emerged from bankruptcy protection in October 2010 under Stebbins’ leadership. Since that time, share prices have topped $75 and bottomed at around $27, following its quarterly earnings report earlier this month. The company managed to beat earnings per share estimates for its second quarter, but it was forced to lower guidance for sales and profits for the full fiscal year. Weak sales in Europe and currency exchanges got the blame for the revised forecast.
The company has also sold its automotive lighting business recently, after being foiled in an attempt to acquire a Korean joint venture that makes climate control systems. Stebbins was considering a retry for the Korean firm, called Halla Climate Control Corp., and had also indicated that making acquisitions was the company’s path to growth. The board must not have agreed with that strategy because Stebbins “stepped down” just a week after he made the statement.
Visteon’s shares are down about 1.6% in premarket trading this morning, at $38.80 in a 52-week range of $27.04 to $58.59.
Paul Ausick
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
