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Delphi Automotive (DLPH) Stock Up on IRS Appeal, Bullish Forecast

NEW YORK (TheStreet) -- Delphi Automotive (DLPH - Get Report) stock is surging by 5.38% to $76.24 in late-afternoon trading on Wednesday, after the company won an appeal with the IRS over the agency's 2014 assertion that the U.K.-based company should be treated as a U.S. corporation for tax purposes.

The IRS has decided that the auto-parts supplier will not need to adjust its 2009 and 2010 tax returns, according to an SEC filing, Reuters reports.

Delphi was originally based in Troy, Mich. in 1999 after being spun off from General Motors...


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