Auto parts makers’ stocks rally, as UAW’s expanded strike provides a boost

Shares of auto parts makers traded mostly higher Friday, after the United Auto Workers union said it was expanding its strike to nearly 40 in-house auto-parts distribution centers of General Motors Co.
GM,
+0.66%
and Stellantis N.V.
STLA,
+0.85%.
Shares of BorgWarner Inc.
BWA,
+2.04%
rallied 2.4% in morning trading, and were the S&P 500’s
SPX,
+0.59%
fifth-best performer. The stock has now gained 1.8% since the strike started late Thursday night. Among other auto parts makers, shares of Aptiv PLC
APTV,
+0.54%
tacked on 0.8%, of Gentex Corp.
GNTX,
+0.82%
gained 1.1% and of Lear Corp.
LEA,
+0.78%
rose 1.0%. Meanwhile, Magna International Inc.’s stock
MGA,
-0.39%
was an outlier, as it had climbed as much as 1.4% intraday, before pulling a U-turn to trade recently down 0.4%. GM’s stock edged up 0.5% and Stellantis shares were up 0.8%. Ford Motor Co.’s stock
F,
+2.87%
jumped 3.4%, enough to pace the S&P 500’s gainers, after the UAW said it made some “real progress” in its negotiations Ford.