Modine Moves Higher on Improved Earnings Announcement

Modine Manufacturing (MOD) announced its third-quarter earnings on October 31. The company reported quarterly profits of $15.9 million compared to a loss of $4.1 million in the same period last year. They also increased 2018 earnings guidance from $1.20-$1.35 per share to $1.30-$1.45 per share. Modine manufactures heating, cooling, and ventilation equipment in Racine, Wisconsin.

 

Sonal detected the news and issued an alert at 4:30 pm on October 31. The next trade occurred in after-market trading hours at 4:31 pm for $21.75. The market opened for regular trading at $21.85 on November 1.The stock price experienced a small pullback after the initial spike when the market opened. Then, the price continued to move up throughout the rest of the day before closing at $22.80.

 

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