Canaccord Genuity Morning Coffee on Goodyear Tire (GT) and Cooper Tire & Rubber (CTB): Gaining Traction
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Price: $15.29 +2.14%
Rating Summary:
4 Buy, 2 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
4 Buy, 2 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade GT Now!
Canaccord Genuity Morning Coffee on Goodyear Tire (NYSE: GT) and Cooper Tire & Rubber (NYSE: CTB): Gaining traction.
Shares of Goodyear and Cooper got a lift on Friday after French tiremaker Michelin reaffirmed its financial targets for F12. Michelin said that despite a decline in sales volumes, higher pricing will help it hit its earnings targets for the year. Additionally, the company saw a 37% increase in profit during the first half of the year. The news was a positive for American tiremakers who many thought would be feeling the pain of slumping global auto sales. Auto giant Ford Motor (NYSE: F) recently said that Europe and Asia would remain headwinds for the balance of the year, and with a European tiremaker reaffirming its full year guidance, investors are hoping that Goodyear and Cooper will be able to do the same, or better. Goodyear will put rubber to the road tomorrow, announcing its second quarter results. Currently, earnings are expected to come in at $0.45 per share, down 31% from $0.65 a year before.
Note - shares of both CTB and GT are trading lower today, but 0.76% and 2.08%, respectively.
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Shares of Goodyear and Cooper got a lift on Friday after French tiremaker Michelin reaffirmed its financial targets for F12. Michelin said that despite a decline in sales volumes, higher pricing will help it hit its earnings targets for the year. Additionally, the company saw a 37% increase in profit during the first half of the year. The news was a positive for American tiremakers who many thought would be feeling the pain of slumping global auto sales. Auto giant Ford Motor (NYSE: F) recently said that Europe and Asia would remain headwinds for the balance of the year, and with a European tiremaker reaffirming its full year guidance, investors are hoping that Goodyear and Cooper will be able to do the same, or better. Goodyear will put rubber to the road tomorrow, announcing its second quarter results. Currently, earnings are expected to come in at $0.45 per share, down 31% from $0.65 a year before.
Note - shares of both CTB and GT are trading lower today, but 0.76% and 2.08%, respectively.
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