The SEC said that Goodyear failed to prevent or detect more than $3.2 million in bribes in Kenya and Angola.» Read More
WASHINGTON— Goodyear will pay about $16 million to settle federal regulators' charges that it failed to prevent persistent bribery in Kenya and Angola aimed at winning tire sales. The Securities and Exchange Commission announced the settlement Tuesday with Goodyear Tire& Rubber Co., one of the world's biggest tire makers. The SEC said Goodyear's...
Feb 17- Goodyear Tire& Rubber Co, the largest U.S. tire maker, reported a slightly better-than-expected quarterly profit, helped by lower rubber and oil prices. The company, whose brands include Goodyear, Dunlop, Sava and Fulda, said its cost of sales fell 9 percent in the fourth quarter compared with the same quarter of 2013.. Goodyear, whose shares rose more than 4...
Feb 17- Goodyear Tire& Rubber Co reported a 9 percent drop in quarterly revenue due to lower shipments of replacement tires in Europe, which the company blamed on a milder-than-expected winter. Goodyear, whose brands include Dunlop, Sava and Fulda tires, said its revenue fell to $4.36 billion in the fourth quarter ended Dec. 31 from $4.79 billion a year earlier.
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The "Fast Money" traders give their final trades of the day.
Some of Friday's midday movers:
*KB Home forecasts drop in gross margins. Shares of homebuilders fell 1.5 percent after KB Home forecast a drop in gross margins for the first quarter. Homebuilder stocks had been up earlier in the session, but KB Home dropped 16.3 percent to $13.87, its biggest percentage fall since 1992..
*Materials drag, led by Freeport McMoran. Copper prices dropped further below $6,000 per tonne to their weakest level in more than five years, while oil prices extended losses in U.S. afternoon trading. So it's this fear of lower commodity prices leading to global deflation which is leading this nervousness, "said Peter Cardillo, chief market economist at...
*Alcoa erases early gains after earnings; materials drag. Shares of homebuilders fell broadly after KB Home forecast a drop in gross margins for the first quarter. Homebuilder stocks had been up earlier in the session, but KB Home was last down 13.7 percent, while a housing index was down 0.9 percent.
*Alcoa erases early gains after earnings. But the market was well off its highs for the session, with shares of homebuilders falling broadly after KB Home forecast a drop in gross margins for the first quarter. Homebuilder stocks had been up earlier in the session, but KB Home was last down 13.7 percent, while a housing index was down 0.9 percent.
Some of Tuesday's midday movers:
*KB Home lifts housing index after earnings. NEW YORK, Jan 13- U.S. stocks rallied on Tuesday to bounce from a two-day decline as financial results from Alcoa helped ease some investor worry regarding the corporate earnings season. Alcoa Inc reported a higher-than-expected quarterly profit due to automotive demand, higher aluminum prices and lower energy...
*Alcoa up in premarket after results. NEW YORK, Jan 13- U.S. stocks were poised for a higher open on Tuesday after the S&P 500 fell for a second consecutive session, as financial results from Alcoa helped ease some investor jitters regarding the corporate earnings season. Alcoa Inc gained 1.9 percent to $16.48 before the opening bell.
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*Third-quarter adj. shr 87 cents/ shr vs est 70 cents/ shr. Oct 29- Goodyear Tire& Rubber Co, the largest U.S. tire maker, reported a higher-than-expected quarterly profit as raw material costs fell in North America. We anticipate we're not going to see a big spike going into next year, " Goodyear Chief Executive Rich Kramer said in a conference call with analysts.
Oct 29- Goodyear Tire& Rubber Co reported a higher-than-expected quarterly profit as raw material costs fell in North America and the tire maker said it would buy back shares worth up to $150 million in the fourth quarter. Operating income from Goodyear's North America business, which accounts for 44 percent of its total revenue, rose 30 percent in the third...
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