Michelin – Compagnie Générale des Etablissements Michelin, to use the company’s full name – has decided to cancel 1,345,821 treasury shares, representing 0.75 per cent of the total shares outstanding. As indicated in a Euronext notice last week, the effective date of the resulting capital reduction is 9 December 2019.
Toyo Tire Corp.’s President and CEO Takashi Shimizu and its Board of Directors resolved to sell a portion of its stock holdings in Bridgestone
Corporation, with whom Toyo Tire maintains business and capital
The company will sell 50% of its holdings of over 3 million shares worth 4,000 million yen on the Tokyo Stock Exchange. The sale is expected to be completed by Feb. 29, 2020.
Under a 2008 framework of business and capital alliances, Toyo
President & CEO of Carbon Black Inc (30-Year Financial, Insider Trades) Patrick Morley (insider trades) sold 79,380 shares of CBLK on 07/26/2019 at an average price of $19 a share. The total sale was $1.5 million.
Carbon Black Inc has a market cap of $1.36 billion; its shares were traded at around $19.00 with and P/S ratio of 5.31.
BOSTON–(BUSINESS WIRE)–May 6, 2019– Cabot Corporation (NYSE: CBT) today announced results for its second quarter of fiscal year 2019.
- Positive impact from calendar year 2019 tire customer agreements more than offset by pricing weakness in China in Reinforcement Materials
- Performance Chemicals impacted by soft automotive demand and a less favorable product mix
- Announced agreement to divest Specialty Fluids segment in transaction valued at $135 million
- Continued commitment to return cash to shareholders with $70 million of dividends and share repurchases in the quarter
ATLANTA — Combining two legacy brands, such as Goodyear and Bridgestone, into a cohesive joint operation is a challenge that requires collaboration and logistics.
South Korea’s second-largest tyre manufacturer, after Hankook Tire, said the reason for delisting its 76,034 shares traded on the LSE was to cut costs as financial losses continued to accumulate last year. The move would leave Seoul as the only market where its shares will be openly traded.
Kumho reported an operating loss of KRW89.9 billion (US$79 million) in 2018, with the fourth quarter marking the eighth consecutive quarter of financial losses for the company. Weak performance in the replacement market was given as the main reason for the losses.
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.
Continental AG (OTCPK:CTTAF) is a high-quality German automotive manufacturing company specializing in tires and non-tire rubber products, auto parts, and future automotive technologies like autonomous driving and electric vehicle ecosystems. A confluence of factors, involving tariff threats from Trump, a cyclical slowdown in China, and production bottlenecks from EU emission regulations, has caused the stock to fall by almost 50%. The stock is now very cheap compared to its trading history, but the U.S. tariff threat looms large on the horizon. This article makes the argument for a speculative buy, where large gains could be made if U.S. tariffs don’t eventuate.
QUINCY, Ill.—An affiliate of Russian Direct Investment Fund, one of three shareholders of Voltyre-Prom, has notified Titan International it is exercising a put option on its share in the Russian tire maker, which could be worth up to $76.2 million.
The Board of Directors at Nokian Tyres has set new financial targets for 2019-2021. These targets include faster than market growth of more than five per cent CAGR, EBIT at 22 per cent and a shareholders’ dividend of more than 50 per cent of net earnings. Nokian says the financial targets will guide the company in reaching the strategic ambitions it set in early 2018, which include increasing sales by 50 per cent in Central Europe and doubling them in North America within the next five years.