This week, Durig looks at the auto industry to focus on a manufacturer who supplies components to many of the industry’s leader auto makers. American Axle & Manufacturing (NYSE:AXL), a leading supplier of driveline technology, recently released its second quarter results. The company registered solid free cash flow, net cash from operations and improving EBITDA and EBITDA margins (see bullets above).
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- Lyft’s IPO is set to price tonight and the stock should start trading on Friday after a market clearing price has been determined. The proposed maximum share price is $68, which would value the company at $19.3 billion, but there are reports that it could be higher due to strong demand.