Sector Snap: Auto Suppliers

Shares of several auto suppliers rose Tuesday, after news that Hurricane Gustav had largely spared the Gulf Coast and its oil facilities sent the price of crude down and the overall market up.

Light, sweet crude fell $6.69 to $108.77 a barrel in afternoon trading on the New York Mercantile Exchange, while the Dow Jones industrial average rose about 170 points.

Auto supplier shares have taken a beating this year as declining demand for new vehicles has resulted in lower automaker orders for components.

Lear Corp. posted some of the group's largest gains, rising $1.30, or 10 percent, to $13.86, after climbing as high as $14.76 earlier in the day. Over the past 52 weeks, the company's shares have traded between $12.21 and $36.99.

Meanwhile, American Axle & Manufacturing Holdings Inc. rose 26 cents, or 5.4 percent, to $5.12 after reaching $5.45 earlier. Over the past year, its shares have traded between $4.10 and $28.11.

Elsewhere in the sector, TRW Automotive Holdings Corp. rose 85 cents, or 4.4 percent, to $20.03; Johnson Controls Inc. rose $1.17, or 3.8 percent, to $32.09; and Visteon Corp. rose 7 cents, or 2.2 percent, to $3.29.