Lear, Johnson Controls Profit Up As Auto Sales Surge

Lear (LEA) crushed second-quarter earnings estimates amid continued strong global auto sales and raised its full-year earnings guidance, although revenue was lighter than expected. Auto-systems giant Johnson Controls (JCI), with nearly $40 billion in annual sales, also reported earnings growth that topped estimates. Johnson Controls also affirmed earlier announced plans to spin off its automotive business, including its lucrative heated and cooled

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