India’s rubber imports from Malaysia alone grew by 16.7% in value terms to $29.7 million in 2018 in the last 10 years. By the Rubber Board’s provisional estimates, the production in 2018-2019 was 648,000 tonne, against 694,000 tonne in 2017-2018. After a brief spell of price recovery up to Rs 152 per kilo last month, […]
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
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.
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.
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.
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.
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.
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 …
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.
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.