ArvinMeritor Falls 8.1% After Unexpected Loss (ARM)

Shares of ArvinMeritor, Inc. ARM are trading down 8.1% at $20.08 per share during the Tuesday afternoon trading session. The day's trading range for shares of ArvinMeritor, Inc has been between $20.05 and $22.39 per share. Analysts covering the company's stock give it a consensus price target of $25.11 per share. Volume of 6.9 million shares is already nearly 4 times the daily average volume of 1.9 million shares. ArvinMeritor, Inc. (ARM) announced on Tuesday morning that it failed to meet consensus Wall Street earnings expectations when it reported an unexpected loss. ArvinMeritor, Inc announced a 1st quarter adjusted loss from continuing operations of 7 cents per share, on revenue of $971 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of zero cents per share, on revenue of $964.53 million. The company forecast full-year adjusted income from continuing operations in the range of $5 million to $15 million, on revenue in the range of $1.125 billion to $1.175 billion. ArvinMeritor, Inc is a global supplier of a broad portfolio of axle, brake and suspension solutions to original equipment manufacturers and the aftermarket for the transportation and industrial sectors. The company serves commercial truck, trailer, bus & coach and off-highway machinery manufacturers, in addition to defense contractors. Read more from Benzinga's Company news.