Goodyear Reports 3rd Quarter 2018 Results

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The Goodyear Tire & Rubber Co. has reported results for the third quarter of 2018.

“We continued to improve the operating performance in our key mature markets, driven by strong volume growth, including significant increases in the more profitable 17-inch-and-greater rim sizes in the U.S. and Europe,” said Richard Kramer, chairman, CEO and president.

Read the source article at Aftermarket News

Tyre maker Nokian profit hit by Russia, Norway issues, emissions rules

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Nokian shares tumbled 14 percent on the latest warning from the automotive industry after a string of trimmed forecasts and weak results from Michelin, Continental and Daimler.

Nokian, which has a large plant in Russia and a smaller one in Finland, said 2018 sales and operating profit were now expected to be flat or slightly higher than 2017, compared with a previous forecast of growing sales and profit.

Read the source article at Stock Market Quotes and News

Atlas Tire Wholesale: Invested in the Future

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Atlas Tire has announced the company’s latest expansion plans, and they’re big!

Atlas Tire Wholesale Inc. recently informed their suppliers and key clients of a massive expansion project that is sure to change the industry landscape here in Canada, as well as further improve the quality of service Atlas Tire is able to offer tire retailers.

Read the source article at Autosphere.ca

Cooper Tire & Rubber Reports 3rd Quarter 2018 Results

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Cooper Tire & Rubber Co. has reported third quarter 2018 net income of $54 million, or diluted earnings per share of $1.07, compared with $62 million, or $1.18 per share, for the same period last year.

“Unit volume in the U.S. improved in the third quarter and outpaced the USTMA. We ended the quarter on an encouraging note, with U.S. unit volume that outperformed both the USTMA and total industry in the month of September,” said Brad Hughes, president and CEO.

Read the source article at Aftermarket News

David Herro Comments on Continental

Continental (XTER:CON)’s stock price has fallen due to industry-wide concerns about auto production volumes and tariffs, but we believe the company has superior end-market exposures and a lower risk profile than many of its peers. Continental’s tire business accounts for about 45% of the company’s earnings, and we find that it generates solid margins and returns relative to industry peers. Replacement tires account for a large portion of segment earnings and …

Read the source article at Value Investing

ATD’s TireBuyer launches new identity, enhanced site

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KIRKLAND, Wash. — TireBuyer.com, American Tire Distributor Inc.’s (ATD) online tire sales platform, has unveiled a new brand identity that it says features several improvements that will enhance the shopping experience for consumers.

The enhancements include a new product recommendation engine, easy search tools, proprietary fitments, seasonal updates and deals and enhanced mobile compatibility for shoppers in a hurry.

Read the source article at Tire Business

ATD reaches agreement with bond-holders, to reduce debt by up to $1.1 billion

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HUNTERSVILLE, N.C. — American Tire Distributors Inc. (ATD) has taken the second major step in the last six weeks to reduce costs, reaching an agreement in principle with holders of 70 percent of its bonds on terms of a recapitalization transaction.

Read the source article at Tire Business

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

Natural rubber: Feeling the pressure

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It has been a tough year so far for natural rubber longs, with RSS3 futures in Singapore falling by almost 10% since the start of the year, and 22% year-on-year. Export intervention offered little help, whilst a weaker oil market recently has only added further pressure Global market set to remain well supplied According to […]

Read the source article at Global Rubber Markets News

Ford’s New CEO Has a Cerebral Style—and to Many, It’s Baffling – WSJ

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Senior executives at Ford Motor Co. F 0.85% have come to expect emails from their new boss, Chief Executive Jim Hackett, that include links to TED Talks and articles from Science Daily. They often come around 11 p.m., when he catches up on his reading.

Read the source article at wsj.com