American Axle shares jump 8% after earnings beat estimates

Shares of American Axle & Manufacturing Holdings Inc. rose 8% Friday morning after the maker of automotive powertrain systems and components beat second-quarter estimates.

Detroit-based American Axle had net income of $18.2 million, or 15 cents a share, in the quarter, compared with $8.0 million, or 7 cents a share, in the year-ago period. Adjusted earnings per share were 19 cents, well above the FactSet consensus of 11 cents.