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Stock Market & Financial Investment News

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March 19, 2013
06:59 EDTGT, CTBGoodyear Tire remains a favorite name in tires, says Goldman
Goldman remains positive on the Tire & Rubber sector and expects income growth to be driven by increased replacement volumes and lower input costs. The firm's checks indicate price/mix headwinds are less severe than initial expectations and lower raw materials costs should offset the impact. The analyst's favorite name remains Buy rated Goodyear tire.
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August 15, 2014
08:16 EDTCTBCooper Tire, Chengshan Group enter CCT option agreement
Cooper Tire & Rubber Company announced it has entered into an option agreement with Chengshan Group Company Ltd. that affirms and provides additional details regarding the previously announced put and call process to resolve the future ownership of Cooper Chengshan, or CCT, as contemplated by the January 29 agreement among the two companies and the CCT labor union. In addition, the new option agreement extends the option commencement deadline, which is the deadline for the independent valuation firm to deliver its fair market valuation of CCT, to August 24. The process for determining the future ownership of CCT begins with an independent valuation of the fair market value of CCT. Once the valuation is delivered, Chengshan has the first option, within 45 days, to elect to purchase Cooper’s 65% interest, to sell its 35% interest to Cooper, or not to exercise either of these options. If Chengshan determines not to exercise either of the options, Cooper has the right to purchase Chengshan’s 35% interest. In the event that neither party elects to purchase the others’ interest, the joint venture continues as currently structured. Further, should Chengshan purchase Cooper’s stake in the joint venture, Cooper will continue to have offtake rights with CCT agreeing to produce Cooper-brand products, including Truck and Bus Radial tires, for a minimum of three years.
August 11, 2014
17:47 EDTCTBCooper Tire extends CCT ownership option commencement deadline
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15:23 EDTCTBJPMorgan to hold a conference
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