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Stock Market & Financial Investment News

News Breaks
January 22, 2014
08:02 EDTTWITitan International volatility may move on MHR Fund Management stake
Titan International option implied volatility may pick up after MHR Fund Management disclosed a 10.9% stake in the company and said in a regulatory filing that it will seek to engage in talks with Titan management. Overall option implied volatility of 42 is above its 26-week average of 39 according to Track Data, suggesting large price movement.
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July 24, 2014
08:16 EDTTWITitan International: Oil sands have positive impact in mining sector
The company adds, ""The farm outlook today is weak from many viewpoints, however, we believe this is a short term pause in the cycle. The large equipment purchases in the farming sector have declined double digits and tire prices have fallen due to lower raw material costs that we are required to pass on contractually to OEMs which negatively impacts our financial performance. Inventory at dealerships remains high but is trending lower each month. ITM which is Titan's track business has been challenged due to recessed construction and mining markets. ITM's steel foundry in Spain has just entered into an agreement in principle to provide railroad cast steel brakes. These engineered cast steel products means an expansion to the Spain facilities. Titan Russia experienced weaker sales levels than anticipated due to the overall economic factors. In the second half of 2014, we will spend more time on our international facilities. The quality of our tires in Russia is improving and chemical inputs have been modified to reach European acceptance. As we build more effective relationships with the Russian team and customers, we expect to realize the untapped potential in this facility."
08:16 EDTTWITitan International: Q2 results reflect slow demand
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08:16 EDTTWITitan International reports Q2 adjusted EPS 3c, consensus 13c
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