- The Goodyear Tire & Rubber Company stock price today and history
The Goodyear Tire & Rubber Company (GT) stock prices updated...
Please, Signup (Login) to subscribe or trade (demo)
The Goodyear Tire & Rubber Company stock price
The Goodyear Tire & Rubber Company latest news:
Why Goodyear Tire & Rubber Company's Stock Just Crashed 11.1%
Consumer-discretionary sector slides as Amazon shares drop on results
The consumer-discretionary sector fell on Friday, a day after Amazon.com reported disappointing quarterly results that sent shares of the online retail giant sharply lower. The sector, as measured by the Consumer Discretionary Select Sector SPDR ETF fell 1% in its biggest one-day percentage drop since July 6. Amazon is the largest component of the ETF by far, accounting for nearly 16% of the portfolio, according to FactSet data. Shares of Amazon fell 4.2%, their biggest one-day slide since October. Despite the declines on the day, the ETF remains up 12% for 2017 thus far, while Amazon is up more than 30%. In its results, Amazon reported a 77% plunge in second-quarter earnings, though sales came in ahead of forecasts. Also weighing on the sector was Mattel Inc. and Goodyear Tire & Rubber Co. , both of which also sold off sharply following their own results. Mattel was down 8.8% while Goodyear tumbled 13%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Goodyear Tire's stock dives after slashed profit outlook offsets in-line earnings
Shares of Goodyear Tire & Rubber Co. plunged 9.3% in premarket trade Friday, after the tire maker slashed its 2017 profit outlook. Net profit for the quarter to June 30 fell to $147 million, or 58 cents a share, from $202 million, or 75 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 70 cents, matching the FactSet consensus. Revenue slipped to $3.69 billion from $3.88 billion, just shy of the FactSet consensus of $3.73 billion. The company cut its 2017 guidance for segment operating income to a range of $1.60 billion to $1.65 billion from "approximately" $2.0 billion. "In addition to higher raw material costs, we have seen a weakening in OE and consumer replacement demand across many of our key markets during the first half, despite strong underlying industry fundamentals," said Chief Executive Richard Kramer. "The combination of these factors has led to a highly unusual first half environment, particularly given the favorable trends in miles driven, gasoline prices and unemployment that are generally supportive of our industry." The stock has rallied 14.9% year to date through Thursday, while the S&P 500 has gained 10.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
The Habit Restaurants, Inc.HABT
The Hackett Group, Inc.HCKT
The Hain Celestial Group, Inc.HAIN
The Herzfeld Caribbean Basin Fund, Inc.CUBA
The Intergroup CorporationINTG
The Joint Corp.JYNT
The KEYW Holding CorporationKEYW
The Kraft Heinz CompanyKHC
The Medicines CompanyMDCO
The Michaels Companies, Inc.MIK