Shares of the Canadian auto-parts maker fell about four per cent Friday after it reported fourth-quarter sales rose 2 per cent year-on-year to US$10.6 billion. Net income, meanwhile, fell about 25 per cent to US$203 million, amid currency headwinds as well as the insolvencies of U.S. EV startup Fisker and two Chinese manufacturers. (The Logic)

Talking point: Magna has been discussing the prospect of tariffs with its customers since December, which include 58 vehicle companies. But there is a “high degree of volatility” in the electric-vehicle market and overall economy that makes it hard to forecast on the issue, executives said. On an earnings call, CEO Swamy Kotagiri said that asking “a supplier to absorb this magnitude that they’re talking about is really unrealistic and untenable.” While the company is looking at whether it has flexibility to move its operations between the U.S., Canada and Mexico, he said, it is “not a switch that can be turned on and off in the short term.”