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  • Stock Rises As Goodyear (GT) Announces Blimp’s 100-Year Celebration

    Stock Rises As Goodyear (GT) Announces Blimp’s 100-Year Celebration

    After The Goodyear Tire & Rubber Company (NASDAQ: GT) revealed plans to celebrate the 100th anniversary of its recognizable Goodyear Blimp, the company’s shares jumped by about 10%. As of the last check, GT stock was up 11.75%, trading at $10.19.

    Wingfoot One’s New Look

    To commemorate this milestone, Goodyear unveiled Wingfoot One, a unique makeover for their airship. The company’s first branded airship, Pilgrim, which debuted in the sky a century ago, served as the model for the new look.

    The elegant black and silver color scheme of the re-wrapped blimp includes the restoration of the blue and yellow “house flag,” which was a hallmark of the company’s first blimps, as well as a classic emblem.

    It is anticipated that throughout the year, this nostalgic metamorphosis would enthrall fans and provoke discussions on GT’s legendary heritage. Other blimps will continue to have their recognizable blue and yellow design, but Wingfoot One will have this unique vintage appearance.

    A Tribute to Goodyear’s Heritage

    The redesigned Wingfoot One serves as a tribute to the long-standing legacy of the Goodyear Blimp, offering a perfect blend of nostalgia and excitement. The vintage wrap process, which took several weeks to complete, is now set to make its public debut. Fans are encouraged to guess the blimp’s first appearance location this year, adding an interactive element to the anniversary celebrations.

    Interactive Anniversary Events and Sweepstakes

    Goodyear has planned a 100+ city tour for Wingfoot One, visiting major events and offering fans a chance to see the blimp up close. The company has also launched a “Buy for a Chance to Fly” sweepstakes, offering three lucky winners an opportunity to experience a flight aboard the blimp.

    Winners will receive a certificate for two passengers, redeemable at any of GT’s three airship bases in the U.S., along with a $3,000 travel voucher.

  • Goodyear (GT) Stock Stabilized Following An Analyst Upgrade

    Goodyear (GT) Stock Stabilized Following An Analyst Upgrade

    On Thursday, The Goodyear Tire & Rubber Company (NASDAQ: GT) displayed resilience in the stock market, registering a modest 0.85% increase to reach $14.16 by the session’s close. Noteworthy was the stock’s ascent, driven by an upgraded recommendation from Deutsche Bank, which transitioned its stance from a “Hold” to a more favorable “Buy,” concurrently adjusting the price target from $13 to $21.

    This positive market movement was accompanied by a strategic update from Goodyear on Wednesday, revealing insights from the thorough evaluation conducted by the Strategic and Operational Review Committee of its Board of Directors. Central to this update was the introduction of the transformational initiative named “Goodyear Forward.”

    The strategic plan aims to optimize the company’s portfolio, achieve substantial margin expansion, and reduces leverage systematically, ultimately fostering sustainable and substantial value for shareholders. The transformation plan outlined by Goodyear signifies a definitive roadmap towards a more lucrative and focused organizational structure. The Review Committee meticulously explored avenues for value maximization, delineating precise initiatives to streamline the portfolio, bolster margins, and fortify the balance sheet with expediency.

    Grounded in the company’s inherent strengths, this strategic blueprint positions Goodyear to not only enhance its leadership position but also cultivate profitable growth across diverse markets, translating into tangible value for its shareholders. This initiative is more than a cursory evaluation; it represents a comprehensive, bottom-up scrutiny of Goodyear’s entire business model.

    In a significant leadership development, Goodyear announced that Richard J. Kramer, its Chairman, CEO, and President, plans to retire in 2024. We have engaged an executive search firm to identify potential candidates from within as well as from outside the organization. As a result of Kramer’s leadership, Goodyear gained recognition for its commitment to corporate responsibility.

    Among its awards are Time’s World’s Best Companies, Newsweek’s Most Responsible Companies, Forbes’ World’s Best Regarded Companies, and Fortune’s World’s Most Admired Companies. Aside from its commitment to sustainability, the company also offers assistance to military personnel and people with disabilities.

  • What made Goodyear Tire & Rubber Co (GT) a Hot Story in the Financial Market Today

    What made Goodyear Tire & Rubber Co (GT) a Hot Story in the Financial Market Today

    Goodyear Tire & Rubber (GT) captured a huge value addition in its stock price just after the company set forth to buy Cooper Tire & Rubber Company with a total value of $2.8 billion. The transaction proved to be advantageous for shareholders of Cooper Tire & Rubber as they will get a cash amount of $41.75 per share along with the exchange ratio of 0.907 against each share of Cooper Tire which is fixed.

    Goodyear Successful Strategy

    The said deal will give Goodyear a boost in global tire industry and will strengthen its leadership position. It also comes up with certain tax benefits and creates positive synergies. The company believes that the particular deal will have immediate impact on its stock price and bring incremental growth in earning per share and will ultimately improve its balance sheet

    According to the quarterly report provided by Goodyear, despite of all the challenges corona virus pandemic posed the company was doing well and it had easily beaten the analyst views on its earnings and revenues. The stock attained huge value after submitting its quarterly report. The decision of buying Cooper Tires came up with the several positive reviews by the financial analyst and it would further heighten company’s market position and bring growth prospects to earning per share.

    Tire Market Anticipation

    It is believed that tire market will rebound once the coronavirus pandemic gets over and the restrictions are lifted around the globe. Goodyear has already strengthened its position in the beginning of 2021 and is anticipated to sustain its market value and the stock might have more room to rise if the tire market sees an improvement in the near term.

  • The Best Tire Stocks for the long-term Investment

    The Best Tire Stocks for the long-term Investment

    The tire industry has a couple of notable stocks with upside in the long-term.

    The tire industry is an essential part of the automobile sector. The demand for electric vehicles is growing at a rapid speed and the shift toward green transportation is the hottest trend in today’s date.

    Though the demand for combustion vehicles may have been affected by the emergence of EVs. However, both the vehicles need tires to run, which keeps the demand for tires steady despite the changing ecosystem of auto space.

    As per ResearchAndMarkets.com, the global tire market is expected to cross 2.7 billion units by 2025. This shows that the tire market has much upside as the growth is quite swift. So, let’s have a look at the best tire stocks in the market to buy for long-term investment.

    The Goodyear Tire (GT)

    The Goodyear Tire (GT) is one of the biggest tire producers and has a stronghold in the market. After a bumpy 2020, the company is set to gain its momentum this year. GT has made a strong bullish movement in Feb. and with the announcement of Q4 results, the shares are on a roll.

    The company released its quarterly results with profits and top sales, beating estimates by a wide margin. Goodyear reported a profit of $63 million compared to a loss of $392 million in the past year. While the adjusted earnings per share were $0.44, surpassing the FactSet consensus estimate of $0.16. The sales dropped 2% to $3.7 billion but toppled FactSet estimates of $3.6 million.

    After a tough first half in the last year, things improved for the company in the second half of 2020. The CEO of Goodyear Tire, Richard J. Kramer highlighted that they have good momentum heading into 2021. The commercial business is outperforming the industry and the consumer replacement business is also getting stronger.

    Kramer added that their consumer OE pipeline has shown robust improvements. So, the company expects this year’s outlook to be profitable with an increase in sales.

    Cooper Tire (CTB)

    Cooper Tire (CTB) is another prominent US firm that manufactures tires. The company has much potential in the long run as the market is expected to grow in the coming years. However, the company has a handful of debts to pay in the coming 12-month period.

    The liabilities of Cooper due within 12-months are around $640.3 million, while $891.5 million beyond that. Whereas, to fulfill the obligations, the company had cash of $496 million and has receivables worth $584.6 million due in 12 months. So, the liabilities are almost $451.6 million more than both the cash and short-term receivables.

    In case of emergency funding, Cooper Tire is big enough to generate finances to fulfill its due obligations. The company is worth more than $2 billion, which shows that Cooper can raise capital to keep up its balance sheet.

    Whereas, the rest of the quarterly outcomes were on the positive side as the company continues to improve. After a hard-fought battle early in 2020 amid the pandemic, Copper Tire’s global unit volume soared 0.5% from the prior year—in Q3 2020. While the net sales surged over 8.6% to $765 million. The profit was around $172 million compared to $53 million in 2019.

    So, Goodyear Tire (GT) and Cooper Tire (CTB) are the two most suitable investment options for investors in the tire industry.