UPDATE 2-American Axle posts steep loss, shares drop

Newswire

(Adds share price, analyst comment) CHICAGO, Oct 27 (Reuters) - American Axle & Manufacturing Holdings Inc. on Friday posted a steep third-quarter loss due to vehicle production cuts in North America that hit pickup trucks and sport utility vehicles especially hard, and its shares fell in early trading. The automotive parts maker reported a net loss of $62.9 million, or $1.25 per share, compared with net income of $19.3 million, or 38 cents per share, a year earlier. Results ...

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