New York, Feb 11, 2026, 13:01 EST — Regular session.
- Aptiv shares dip in midday trade, lagging a sharp rally in peer BorgWarner after its quarterly update
- A stronger U.S. jobs report pushes rate bets around, keeping pressure on cyclical names
- Investors are watching Aptiv’s Feb. 18 Barclays conference slot and the planned April 1 Versigent spin
Aptiv (APTV.N) shares eased on Wednesday, underperforming a sharp pop in rival BorgWarner after its results. Aptiv was down about 0.5% at $84.70 in early afternoon trade, after moving between $84.28 and $86.70; BorgWarner jumped about 22% and Lear (LEA.N) was up about 1%.
The drift matters because investors are trying to price 2026 demand for auto suppliers in real time — and the discount rate is moving again. The broader market was slightly higher, with the S&P 500 ETF SPY up about 0.2% and tech-heavy QQQ up about 0.3%.
Wednesday’s push came from the U.S. jobs report, which showed payrolls rose 130,000 in January and the unemployment rate fell to 4.3%. “The only jobs being filled in January are in health care and social assistance,” Christopher Rupkey, chief economist at FWDBONDS, said, warning against reading the headline as a clean turn in momentum. (Reuters)
Overseas, the backdrop is still messy. Germany’s auto lobby said a survey of 124 small and mid-sized suppliers found 72% planned to cut domestic investment, with many shifting projects abroad — another reminder that production and cost pressure in Europe has not gone away. (Reuters)
BorgWarner’s report gave the sector fresh numbers to trade. The company posted fourth-quarter adjusted profit of $1.35 per share on revenue of $3.57 billion and forecast 2026 net sales of $14.0 billion to $14.3 billion, compared with analysts’ estimate of about $14.7 billion, according to LSEG data. (Reuters)
Adjusted figures strip out items companies call special or non-recurring. In this sector, that often matters more than the headline — restructuring, commodity swings, currency and separation costs all show up somewhere.
Aptiv had already set its own tone earlier this month. The company reported lower fourth-quarter profit as tax expense jumped, and it forecast first-quarter adjusted profit of $1.55 to $1.75 a share, below analysts’ estimate of $1.92, according to LSEG data. (Reuters)
Aptiv makes wiring systems and high-voltage electrical architecture for vehicles, along with sensors, software and advanced driver-assistance systems — driver aids such as automatic braking and lane-keeping. Investors have treated the stock as a bet on content-per-car, not just unit volumes.
In its Feb. 2 results release, Aptiv highlighted record full-year revenue of $20.4 billion and fourth-quarter revenue of $5.2 billion, with earnings per share excluding special items of $1.86. “We delivered another year of record revenue, operating income, and earnings per share,” CEO Kevin Clark said in the statement. (Aptiv Investor Relations)
That same message leaned hard on the coming break-up. Aptiv has said its Electrical Distribution Systems business will be called Versigent in a tax-free spin targeted to be completed on April 1, with the new company expected to trade under ticker “VGNT”; Aptiv also named Joseph Liotine as CEO of Versigent and Doug Ostermann as CFO. (Aptiv)
The next public checkpoint is close. Aptiv is scheduled to present at the Barclays Industrial Select Conference on Feb. 18 at 8:05 a.m. ET, with a webcast posted to its investor site. (Aptiv Investor Relations)
Rates are the other moving part. Kansas City Fed President Jeffrey Schmid said on Wednesday it was too soon to expect productivity to solve inflation, adding: “With inflation still running hot, it appears that demand is outpacing supply across much of the economy.” (Reuters)
But there are ways this setup breaks the other way. In a 10-K excerpt, Aptiv said it incurred about $178 million of separation-related costs in 2025 and expected additional expenses through completion — and the spin still depends on customary closing conditions. Any hit to global vehicle production, or another round of trade-policy shocks, would land on suppliers’ margins fast. (Stock Titan)
Traders’ next catalysts are pinned to the calendar: the U.S. Bureau of Labor Statistics is due to release January CPI on Friday, Feb. 13 at 8:30 a.m. ET, while Aptiv’s Barclays slot follows on Feb. 18. The company has reiterated that the Versigent separation remains on track to begin trading April 1. (Bureau of Labor Statistics)
