American Axle continues decline on weak demand, possible job cuts
American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares continued to drop Thursday on no fresh news although the car-part maker confirmed earlier in the week it is contemplating salaried job cuts. The Detroit-based company already has plans to close one plant due to declining demand from the auto industry. Shares of the American Axle hit a 52-week low of $8.77, down about 13% from Wednesday’s close.
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