VOLUME ALERT: American Axle (AXL)

Posted in General 
July 8th, 2009

American Axle & Manufacturing Holdings (NYSE: AXL) shares are down more than 25 percent to $1.76, with the stock having traded nearly twice its average daily volume. The company late Tuesday said it reached an agreement with lenders to amend its credit facility amid a severe decline in vehicle production volumes. The agreement includes a waver of financial covenants under its revolving credit line through July 30.  — Mike Tarsala

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