Tires & Rubber

Citi made a number of updates on companies in the auto sector in a research report published today. BorgWarner (NYSE: BWA) had its rating reiterated at Hold. At the same time, its price target was maintained at $83. On Monday, BWA lost 1.53% of its value to finish the day at $78.96. Ford (NYSE:...

The Goodyear Tire & Rubber Company (NYSE: GT) today announced that it has ceased production at its tire manufacturing facility in Union City, Tenn. On February 10, Goodyear had announced its intention to close the plant by the end of 2011. "When we announced our intention to close the plant...

Throughout the years of rapid sector-specific expansion in the exchange traded products universe, one industry was always conspicuous by its absence: The automotive industry. Considering this is a key industry in the U.S. and in major developed economies such as Germany and Japan, the lack of an...

The S&P 500 (SPX) gained 14 points, or 1%, in today's session to close at 1353.22. The index is nearing its 52-week high of 1370.58, which was set on May 2nd. The Sector breakdown for Thursday's session is as follows: The S&P 500 was led by the Basic Materials Sector in Thursday's session...

Libbey Inc (AMEX: LBY) appointed Stephanie Streeter as the company's Chief Executive Officer (CEO), effective August 1. Streeter served as interim Chief Executive Officer of the United States Olympic Committee from March 2009 to March 2010. Streeter presently serves on the Boards of Directors of...

Deutsche Bank is providing a few comments on the tire industry, its trends, and why it lowered its estimates on two companies. “We lowered estimates for Goodyear (NYSE: GT) and Cooper Tire (NYSE: CTB) on Friday based on evidence that the US replacement tire market was decelerating: U.S....

The Consumer Goods Sector is taking another hit in today's trading session, currently down 1% from yesterday's close. The weakest S&P Consumer Goods stocks currently are: 1) Goodyear Tire & Rubber (NYSE: GT): Shares of Goodyear Tire and Rubber are currently trading down 7.3% from...

The Goodyear Tire & Rubber Company (NYSE: GT) has agreed to sell its global wire business to Hyosung Corporation, pending government and regulatory approvals and other customary closing conditions. Goodyear and its affiliates will receive approximately $50 million for the business, subject...

The Goodyear Tire & Rubber Company's (NYSE: GT) three North American blimps are assisting the Department of Homeland Security/FEMA with a request for donations to aid those devastated by recent tornadoes. The airships, Spirit of Goodyear in Ohio, Spirit of Innovation in Florida and Spirit of...

Goodyear's (NYSE: GT) 1Q11 results came in significantly above Goldman Sachs' expectations and the street's, driven largely by a $361mn tailwind from pricing and mix which came above its $278mn estimate. The increase is impressive because it exceeds the $300mn per quarter run rate that had...

Deutsche Bank is out with its report today on Goodyear Tire & Rubber (NYSE: GT), raising its PT from $21 to $24. In a note to clients, Deutsche Bank writes, "We are raising our 2011 and 2012 estimates to $0.85 and $2.45 from $0.45 and $2.05. And we continue to believe that 2013 EPS could be...

J.P. Morgan, citing 1Q numbers and an improved outlook, has raised its price target from $17 to $21 on Goodyear (NYSE: GT). Says J.P. Morgan, in the report, “We revise our 2011e EPS to $1.20 (vs. $0.32 earlier) mainly on 1Q beat and improved outlook on price/mix vs. raws spread (revised model...

JP Morgan has raised the price target on Goodyear Tire & Rubber (NYSE: GT) from $17 to $21 and maintains its Overweight rating.

According to Citi, Goodyear Tire & Rubber (NYSE: GT) reported Q1'11 EPS of $0.52 (ex. items), far above its $0.15 and consensus of $0.11. Citi said that revenue of $5.4 billion was ahead of its $4.7 billion and consensus of $4.8 billion. “Segment operating income (SOI) came in at $327 million...

UPDATE: Goodyear Tire (NYSE: GT) Rises over 10% to Hit an 18-Month High