October 28, 2009 at 18:00 PM EDT
Auto Groups Surrender Top Industry Slots
Tire makers and original automotive equipment makers took hard hits Wednesday after earnings reports by Goodyear (GT) and BorgWarner (BWA). Both groups moved into the top 20 rankings among IBD's industries in July. Some of that strength came from auto-buying demand created by the government's Cash for Clunkers program. Some also rode on hopes that consumer demand would improve during the second half of the year. The original-equipment makers group
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