ArvinMeritor Shares Fall 4.4% (ARM)

Despite reporting positive financial results, shares of ArvinMeritor, Inc. ARM are trading down 4.4% at $16.65 per share during the Tuesday afternoon trading session. The day's trading range for shares of ArvinMeritor, Inc has been between $16.68 and $17.92 per share. Analysts covering the company's stock give it a consensus price target of $20 per share. Volume of 1.5 million shares is approaching the daily average volume of 1.8 million shares. ArvinMeritor, Inc. (ARM) announced on Tuesday morning that it easily beat consensus Wall Street expectations. ArvinMeritor, Inc announced 4th quarter adjusted income from continuing operations of 8 cents per share, on revenue of $956 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for a loss of 2 cents per share, on revenue of $942.94 million. Chairman, CEO and president Chip McClure said, "Adjusted EBITDA was up 63 percent compared to the same period in fiscal year 2009 primarily due to recovering volumes in the global commercial vehicle markets. Free cash flow for the quarter was $42 million, an improvement of $20 million from the same period last year resulting in our sixth consecutive quarter of positive free cash flow." Read more from Benzinga's Company news.