Magna International (NYSE:MGA) Stock Reaches All Time High; Pacific Ethanol (NASDAQ:PEIX) Surges

Magna International (NYSE:MGA) shares reached their all-time high Monday after the company reported improved Q4 financial results and said it expects fiscal 2014 revenue about in line with estimates.

Near midday, Magna International (NYSE:MGA) shares are up 2.5% at $91.32, and earlier hit a record high of $92.42.

The automotive supplier reported Q4 earnings of $2.03 per share, compared with the prior-year period’s $1.49 per share. Ex one-time items, earnings were $0.79. Revenue was $9.17 billion, up 14% from $8.03 billion in the same quarter last year.

No analyst estimates for Q4 were available for comparison.

For fiscal 2014, the company expects total sales of $33.8 billion – $35.5 billion. The Capital IQ consensus estimate is for revenue of $35.8 billion.

Pacific Ethanol (NASDAQ:PEIX) surged 13.7% to $15.54 per share on Monday afternoon after a article titled, “Pacific Ethanol Is Poised To Make Big Profits In Q1 2014 As Corn Prices Continue To Decline And Ethanol Prices Spike.”

The blogger reveals he is long Pacific Ethanol (NASDAQ:PEIX) and states that this low-carbon renewable fuel producer “will far exceed the 55 cent EPS it showed for Q4 2013” into Q1 2014. The article also says “that the rest of the year will remain profitable,” based on four main points of analysis, including lower corn prices and higher revenue from spiking ethanol prices.

Pacific Ethanol (NASDAQ:PEIX) hit a two-year high of $16.30 per share in afternoon Monday trading on 2.5 million shares which is 2.5 times average daily volume of 962,000 shares. Shares trade at the high end of a 52-week price range of $2.33 – $16.30 per share.

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