Indian tire manufacturer Apollo Tyres said it plans to buy Cooper Tire & Rubber for about $2.5 billion.
With budget sequestration only days away, Wall Street isn't showing any major signs of worry, Cramer thinks that bears are missing the facts.
FINDLAY, Ohio-- Cooper Tire& Rubber's net income grew more than fourfold in the third quarter, aided by lower raw material costs, new products and cost-cutting efforts. The company earned $74.1 million, or $1.17 per share, for the period that ended Sept. 30. That compares with $17.3 million, or 27 cents per share, a year earlier.
*Nifty futures on the Singapore Exchange. FACTORS TO WATCH* Infosys, India's no. 2 software services provider, will report September quarter earnings. *A committee, led by prime minister's Economic Advisory Council chief C. Rangarajan, will recommend lifting curbs on India's tightly controlled sugar sector.
*Oil prices rose on Thursday to their highest levels in weeks as tensions between Syria and Turkey escalated, while maintenance on North Sea oilfields pushed the premium for Europe's Brent crude to another one-year high.
*Cooper Tire shares jump as much as 11 pct By Sumeet Chatterjee and Sagarika Jaisinghani Oct 11- Indian tire manufacturer Apollo Tyres. Shares of Cooper Tire jumped as much as 11 percent to $20.76, valuing the company at $1.3 b illion.
Oct 11- Apollo Tyres Ltd:. *In early talks with Cooper Tire& Rubber to acquire majority stake. *Has hired standard chartered and HSBC for secondary share sale in Indian.
*Cooper Tire shares jump as much as 11 pct. is in the process of acquiring a controlling stake in U.S.-based Cooper Tire& Rubber Co in a deal valued at between $600 million and $800 million, India's Economic Times reported. Shares of Cooper Tire jumped as much as 11 percent to $20.76, valuing the company at $1.3 b illion.
*Deal could be for $600 mln- $800 mln- India's Economic Times. *Cooper Tire shares jump as much as 11 pct. Shares of Cooper Tire, which had a market value of about $1.2 billion as of Wednesday's close, jumped as much as 11 percent on the New York Stock Exchange on Thursday, bringing the gain so far this year to about 45 percent.
is in the process of buying a controlling stake in Cooper Tire& Rubber Co, India's Economic Times reported. The deal could be in a range of $600- 800 million, the newspaper said citing sources. Cooper Tire's shares jumped as much as 11 percent to $20.76 on the New York Stock Exchange on Thursday.
Take a look at some of Tuesday morning's early movers:
Many Americans know about the highly publicized lockouts in professional sports, but they are increasingly imposed in less visible industries as well, the New York Times reports.
The dollar is much stronger, stocks are weaker, as the Japanese have been selling yen overnight.
Despite market shittishness over the U.S. debt deal, some value investors continue to look for attractive long-term opportunities in any exaggerated moves to the downside. Here's portfolio manager Jason Clark's Top 10 value picks.
There's nothing better for a value investor than a company making products people need every day—and whose stock is cheap. John Buckingham, chief portfolio manager for Al Frank Asset Management, sees that in Cooper Tire.
See what's happening, who's talking and what will be making headlines on Thursday's Squawk on the Street.
Here's why you should keep a close eye on these six stocks.
Stocks opened higher Friday, even after the second estimate for Q4 GDP, at 2.8 percent, came in well below expectations of 3.3 percent; the prior estimate was 3.2 percent. The recovery is clearly going to be slower than hoped, and joblessness is going to remain higher longer.
Stocks trimmed losses to end narrowly mixed Thursday as Treasury prices firmed and the dollar stabilized. McDonald's and DuPont fell, while BofA rose.
Stocks eased losses ahead of the close Thursday as Treasury prices firmed, but gains were limited by a stronger U.S. dollar. DuPont and McDonald's fell, while BofA rose.