New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 1, 2013
06:24 EDTGTGoodyear Tire to exit farm tire business in EMEA region
On January 31, the company announced in an 8-K filing that it intends to exit the farm tire business in the Europe, Middle East and Africa region and, accordingly, GDTF has initiated a plan to also discontinue farm tire production at the Amiens North manufacturing facility, which would result in the full closure of that facility. GDTF has initiated communications with affected associates regarding the full closure of the Amiens North manufacturing facility. The plans remain subject to consultation with the European Central Works Council, GDTF’s employee representatives and other relevant bodies in the EMEA region. In conjunction with these actions, in 4Q12, it recorded $74M and now estimates that the total charges associated with the above plans will be at least $230M, $191M of which have now been recorded. The remaining charges will be recognized as costs are incurred in future periods. Non-cash charges for accelerated depreciation of approximately $20M are expected to be offset by non-cash pension curtailment gains. The actions would eliminate approximately 6M units of high-cost physical capacity, although GDTF currently produces approximately 1.3M tires per year at the Amiens North manufacturing facility. The actions are expected to improve EMEA operating income by approximately $75M annually, as compared to 2012 results, following the closure.
News For GT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2015
17:42 EDTGTTitan International exploring plans to expand facility in Turkey
Subscribe for More Information
08:17 EDTGTGoodyear Tire backs FY15 segment operating income growth 10%-15%
Subscribe for More Information
08:17 EDTGTGoodyear Tire reports Q2 tire unit volumes totaled 40.8M
Subscribe for More Information
08:16 EDTGTGoodyear Tire reports Q2 EPS excluding items 84c, consensus 75c
Reports Q2 revenue $4.17B, consensus $4.13B
July 28, 2015
11:09 EDTGTGoodyear Tire July weekly volatility elevated into Q2 and outlook
Goodyear Tire July weekly call option implied volatility is at 74, August is at 38, September is at 32; compared to its 52-week range of 20 to 47, suggesting large near term price movement into the expected release of Q2 results on July 29.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use