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What's Going On With Magna Shares After Incurring $316M Charges Related To Fisker In Q1?

Magna International, Inc. (NYSE:MGA) shares fall in the premarket session after reporting first-quarter results. The company reported adjusted earnings per share of $1.08, missing the street view of $1.25. The company recorded asset impairments and restructuring totaling $316 million related to Fisker Inc. (OTC:FSRN). Lower volumes in the Complete Vehicles segment and the net weakening of foreign currencies against the U.S. dollar affected quarterly performance. However, quarterly revenues ...