Brembo raises stake in Pirelli to nearly 5%

MILAN — Italian brake maker Brembo said it would not buy additional shares in tiremaker Pirelli after increasing its stake to almost 5 percent. Brembo, which makes brakes for automakers including Ferrari and Tesla as well as several Formula One teams, said it now held a 4.99 percent stake in Pirelli, both directly and indirectly through its Nuova FourB parent company, and that it had completed the purchase process.

Read the source article at Automotive News Europe

Insider Buying Reaches a 10-Year High

A quick look at the activity of insiders in the last 30 days gives reason to believe that company executives are betting on the respective companies they represent like never before. This could be an indication of the equity market performance in the coming years. The subject of this analysis is to interpret the current trend of insider buying and selling using empirical evidence.

 

Read the source article at Value Investing

Why Financial Markets’ New Exuberance Is Irrational

Owing to a recent easing of both Sino-American tensions and monetary policies, many investors seem to be betting on another era of expansion for the global economy. But they would do well to remember that the fundamental risks to growth remain, and are actually getting worse.

 

 

Read the source article at project-syndicate.org

Orion Engineered Carbons S.A. Announces First Quarter 2019 Financial Results

Orion Engineered Carbons S.A. (NYSE: OEC), a worldwide supplier of Specialty and High-Performance Carbon Black, today announced first quarter 2019 financial results.

First Quarter 2019 Highlights

  • Net Income of $19.0 million and basic EPS of $0.32 versus $26.8 million and $0.45 in first quarter of 2018
  • Adjusted EPS1 of $0.40
  • Cash flow from operations of $26.2 million
  • Total Carbon Black volumes decreased 

Read the source article at EPICOS

Michelin shares surge after tyre maker pledges higher profits in 2019

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Shares in Michelin, which also reported better-than-expected results for 2018 late on Monday, were up 7.5 percent in early session trading. The stock was the best performer on France’s benchmark CAC-40 index.

“Michelin is able to sustain premium price points, while concurrently gaining market share – this is the perfect recipe for earnings growth,” analysts at Citigroup wrote in a note, keeping a “buy” rating on Michelin shares.

Read the source article at Stock Market Quotes and News

Conti hits 2018 target despite market decline

Hanover, Germany – Continental has achieved its 2018 sales and earning targets despite declining automotive markets, the company announced 14 Jan.

Operating performance, it said, came in as expected in the fourth quarter, which also saw strong sales of winter tires and the positive market development in industrial markets.

“We achieved a respectable result and achieved our adjusted annual targets. We are continuing to grow profitably,” said Continental CEO Dr. Elmar Degenhart.

Read the source article at European Rubber Journal

Bridgestone earnings down for quarter, nine months

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TOKYO — Bridgestone Corp. reported lower operating income for the quarter and nine months ended Sept. 30, prompting the company to reduce its fiscal 2018 earnings projections about 2 percent from the August forecast.

Read the source article at Tire Business

U.S.-China trade truce triggers European share surge

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U.S. President Donald Trump and Chinese President Xi Jinping reached a truce at the G20 meeting on Saturday, halting additional tariffs and agreeing to fresh talks aimed at reaching an agreement within 90 days.

Although markets reacted positively, some investors and analysts said the outcome had already been partly anticipated and there remained much for the two to agree upon.

Read the source article at Stock Market Quotes and News

Tocom aims to double rubber trading with new contract

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Technically-specified rubber futures will start trading on October 9, according to President Takamichi Hamada. Trading volumes will probably exceed ribbed-smoked-sheet rubber, the type currently traded on Tocom, in the short term, Hamada, 68, said in an interview in Tokyo. The exchange is also aiming to surpass volumes on Singapore Exchange, he said.

Tocom is Japan’s largest commodity exchange and has offered RSS rubber contracts for almost 66 years.

 

Read the source article at Global Rubber Markets News

Continental (CON) Given a €175.00 Price Target by Independent Research Analysts

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Continental (ETR:CON) received a €175.00 ($198.86) price objective from equities researchers at Independent Research in a research report issued on Thursday. The firm currently has a “neutral” rating on the stock. Independent Research’s target price would indicate a potential upside of 12.58% from the company’s previous close.

A number of other analysts have also commented on CON. Warburg Research set a €285.00 ($323.86) price objective on Continental and gave the stock a “buy” rating in a research report on Wednesday, April 25th. JPMorgan Chase & Co. set …

Read the source article at Zolmax