UPDATE 1-Standard Motor shares tank after disappointing Q3

Newswire

Oct 30 (Reuters) - Shares of auto parts maker Standard Motor Products Inc. on Monday tumbled nearly 20 percent, after its third-quarter earnings, hit by a sharp fall in segment sales, fell short of Street estimates. The company reported a 5.9 percent fall in engine management sales and a 19.6 percent slide in temperature control sales. In a conference call on Monday, Standard Motor cited inventory correction on the part of customers and flat distribution sales for drop in engine ...

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