Take a look at some of Tuesday's midday movers:» Read More
*Arch Coal surges after results. ``Futures are coming back simply because this GDP number was above the consensus number,'' said Phil Orlando, chief equity market strategist, at Federated Investors, in New York.
Stocks closed mostly lower Friday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter. The morning gains came after the Commerce Department estimated that the U.S. economy expanded at a 2 percent annual rate from July through September.
Oct 26- Goodyear Tire& Rubber Co, the top U.S. tire maker, reported a lower quarterly profit as volumes fell particularly in Europe. Goodyear expects fourth-quarter tire unit volume to fall 3 percent to 5 percent from a year earlier. Net income fell to $110 million, or 41 cents per share, in the third quarter, from $161 million, or 60 cents per share, a year earlier.
Stock indexes are moving between small gains and losses on Wall Street Friday after Goodyear Tire& Rubber and other companies turned in weak earnings reports. Goodyear's stock sank 7 percent after the company said that a steep dropoff in sales in Europe delivered a blow to the company's earnings.
Stocks are edging higher in early trading on Wall Street after the government reported a slight pickup in U.S. economic growth. The gains were held in check by poor earnings reports from Goodyear Tire& Rubber and the lumber and real estate company Weyerhauser.
NEW YORK-- Stock futures were mixed but recovered from sharp declines Friday after the government reported that economic growth during the third quarter was slightly better than expected thanks in part to stronger consumer spending. The Commerce Department reported that the economy expanded at 2 percent annual rate from July through September.
DETROIT-- Shares of Goodyear Tire& Rubber Co. fell more than 10 percent on Friday as the company's third-quarter net income and revenue dropped on lower tire sales in Europe. The Akron, Ohio, company's results fell short of Wall Street's expectations as problems in Europe offset cost cuts and profits in North America.
When reporting third-quarter results on Friday, Goodyear Tire& Rubber Co. said it expects tire sales volume to be down 3 percent to 5 percent in the fourth quarter, compared with a year earlier. Chairman and CEO Richard J. Kramer was asked about the forecast on a conference call with analysts. Our OE business in North America continues to stay robust.
WASHINGTON _ Commerce Department releases third-quarter gross domestic product, 8:30 a.m.. Arch Coal Inc. reports quarterly financial results. Comcast Corp. reports quarterly financial results.
DETROIT-- Goodyear Tire& Rubber Co. faced a challenging third quarter in a sputtering economy, and its results could reflect that when they are released before the markets open on Friday.
Caterpillar Inc. reports quarterly financial results. Hasbro Inc. reports quarterly financial results. Peabody Energy Corp. reports quarterly financial results.
*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.
*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.
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Stocks lost steam in the final hour of trading to finish mixed Thursday, after the Federal Reserve announced new capital rules for financials and following Bernanke's comments that offered little hope for further central bank intervention.
U.S. stock futures held their gains Thursday following the weekly jobless claims report and after China's central bank unexpectedly announced that will cut its interest rates.
Take a look at some of Friday's morning movers:
First look at U.S. first quarter gross domestic product was disappointing, at 2.2 percent, well below consensus of 2.6 percent. Much of the debate on the U.S. economy could be summed up simply: Do you think growth will be north of 2.5 percent this year, or south of that? More ammunition for the bears.
We may still be listening to Madonna today – who topped the charts with “Like a Prayer” in 1989 – but time has not stood still for your money.
Paraskevidekatriaphobia is the fear of Friday the 13th, but investors should not be too frightened.