Goodyear Runs Aground On Cautious Outlook
February 21st, 2010
| Category: Economy
After driving shares up throughout the week, investors let the air out of Goodyear Tire & Rubber on Friday when the company said profits in the second half of 2010 would be pressured by material costs and Venezuelan currency devaluations weighing on profits.The Akron, Ohio-based tire and rubber maker earned $107 million, or 44 cents per share, in the fourth quarter of 2009 compared with a loss of $330 million, or $1.37 per share in the same period of…
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