Cooper-Standard soars on upbeat second-quarter results
05/08/2022 18:46
** Shares of fuel and break lines maker Cooper-Standard
Holdings CPS.N nearly double to over a 4-month high of $9.99
** CPS posted qtrly adj net loss per share of $3.40, lower
than estimated net loss of $3.48
** Co reported net sales of $605.9 million, beating
analysts' estimate of $576.05 million
** Says it now expects to realize material cost recoveries
at a rate exceeding the historical range of 40%-60%
** Stock has fallen 61% YTD
(Reporting by Raechel Thankam Job)
((RaechelThankam.Job@thomsonreuters.com;))