BorgWarner (BWA) volatility at eight month lows into higher than expected tax rate

BorgWarner (NYSE: BWA) is recently down $2.51 to $80 in the premarket after reporting Q1 EPS $1.28, consensus $1.31. Wells Fargo say’s “Q1 miss because of higher tax rate; margins strong.” Overall option implied 30 is below 26-week average of 34 according to Track Data.

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