Barron’s: Goodyear stock have more upside than prices suggest

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Goodyear, (GT.O), trading at $27.01, 7.3 times earnings, is benefiting from car makers’ shift toward trucks, for which tires are more profitable, and its earnings per share (EPS) is expected to rise at mid-teen percentages the next two years, the paper noted.

 

Read the source article at reuters.com

Hedge fund Bridgewater makes $22 billion bet against European firms

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LONDON/FRANKFURT/NEW YORK (Reuters) – Bridgewater has shown its hand in Europe with a $22 billion bet against some of the continent’s biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world’s largest hedge fund manager.

Although data was not available to show whether Bridgewater holds more European stocks than it “shorts” overall, an investor in the hedge fund firm’s Pure Alpha Major Markets strategy said that its position was slightly net “long” on Feb. 6.

Read the source article at Global Rubber Markets News

Orion Engineered Carbons S.A. Announces Closing of Secondary Common Stock Offering

Orion Engineered Carbons S.A. (NYSE: OEC ) (the “Company” or “Orion”), a worldwide supplier of specialty and high-performance Carbon Black, announced today the closing of the secondary offering of an aggregate of 12,657,799 common shares of the Company by Kinove Luxembourg Holdings 1 S.à r.l.

Read the source article at benzinga.com

Cooper Tire & Rubber Company Reports Third Quarter 2017 Results; Management Updates Guidance

FINDLAY, Ohio- Cooper Tire & Rubber Company (NYSE:CTB) today reported third quarter 2017 net income of $62 million, or diluted earnings per share of $1.18, compared with $49 million, or $0.90 per share, last year. The quarter included a $39 million benefit from lower product liability costs. For comparison purposes, the third quarter of 2016 included a non-cash pension settlement charge of $11.5 million related to the lump-sum distribution of benefits offered to certain former employees.

Read the source article at businesswire.com

Jefferies Group LLC Reiterates “Buy” Rating for The Goodyear Tire & Rubber Company (GT)

Tweet The Goodyear Tire & Rubber Company (NASDAQ:GT) ‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a note issued to investors on Thursday. They presently have a $36.00 price target on the stock. Jefferies Group LLC’s price objective suggests a potential upside of 9.06% from the stock’s current price. GT has been the topic of a number of other reports.

Read the source article at Watch List News

China’s rubber futures price crashes in September

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Shanghai, China – Natural rubber futures price on the Shanghai Futures Exchange (SHFE) went down by over 20% in September after rising since July, weaker than almost all other commodities traded on the exchange. The price has dropped from the high point at €2,183 (17,000 yuan) per tonne at the beginning of the month to […]

Read the source article at Global Rubber Markets News

Trinseo Announces Quarterly Dividend

BERWYN, Pa.–( BUSINESS WIRE )– Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, today announced that its Board of Directors authorized a quarterly dividend of $0.36 per share. The dividend will be a cash distribution payable on October 24, 2017, to shareholders of record as of the close of business on October 10, 2017.

Read the source article at biospace.com

Indonesia: Rubber farmers cry for help

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The government should look seriously into the grievances of rubber farmers who have been complaining about low prices over the last five years. True, the price of rubber, like most other commodities, such as palm oil, cacao and coal, is mainly influenced by global supply and demand, especially for Indonesia, which, as the world’s second…

Read the source article at Global Rubber Markets News

NR prices recover in August, deficit continues

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Kuala Lumpur – Natural rubber prices recovered from a dip in late July, thanks to favourable market fundamentals and supply deficit, the Association of Natural Rubber Producing Countries (ANRPC) has reported.

In its latest release on trends and statistics in August, the association said global NR production reached 8.038 million tonnes within the first eight months of the year. Consumption was estimated at 8.544 million tonnes.

Read the source article at European Rubber Journal

Pirelli to sell 40 percent stake in Milan market comeback

MILAN (Reuters) – Italian tyremaker Pirelli, bought by state-owned China National Chemical (ChemChina) two years ago, will sell up to 40 percent of its equity capital in an initial public offering as it plans to return to the Milan stock exchange in October.

The relisting of the world’s fifth-largest tyremaker will test demand for a streamlined firm that focuses on high-end consumer tyres, after the company’s less profitable truck and industrial tyre business was folded into a unit of ChemChina[CNNCC.UL].

A confidential study prepared by analysts at Banca IMI, one of the global coordinators for the IPO, valued the group’s equity at between 7.6 billion and 8.7 billion euros ($9 billion – 10.4 billion).

Read the source article at reuters.com