Is Goodyear a good bet after the Q3 report? - Steven Mallas

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Is Goodyear a good bet after the Q3 report?
Oct 29, 2009 02:00 PM UTC

Steven Mallas

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Via BloggingStocks:

Filed under: Earnings reports, Goodyear Tire and Rubber (GT)

The Goodyear Tire & Rubber Company (NYSE: GT) sold off on Wednesday by nearly 20%. Volume was vastly above average. The third-quarter earnings release was the culprit. Although, at first glance, you might wonder what the heck is wrong.

Sales were down 15% in Q3 on a year-over-year basis, but they did improve 11% on a sequential basis. The company increased GAAP earnings per share by more than 100% to 30 cents. According to Bloomberg, income was 45 cents per share after items were excluded, five pennies ahead of expectations.

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Is Goodyear a good bet after the Q3 report? originally appeared on BloggingStocks on Thu, 29 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

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