Goodyear Tire & Rubber Azioni (NASDAQ: GT)

Ultime notizie per Goodyear Tire & Rubber (NASDAQ:GT) Azioni

Goodyear Tire & Rubber

Goodyear Tire & Rubber Company (The)

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Goodyear Tire & Rubber Co manufactures and sells a variety of rubber tires under the Goodyear brand name. The firm's tires are used for automobiles, trucks, buses, aircraft, motorcycles, mining equipment, farm equipment, and industrial equipment. The company operates its business through three operating segments representing its regional tire businesses: Americas; Europe, the Middle East, and Africa (EMEA); and the Asia Pacific.

The Goodyear Tire & Rubber Company - Common Stock

Goodyear Tire & Rubber Co

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Shares of auto-related stocks are trading higher following the Fed's policy decision to cut rates by 50 basis points, which could stimulate spending and enhance credit affordability.

As soon as Democratic nominee Kamala Harris promised to <a href="https://www.benzinga.com/news/24/08/40387906/kamala-harris-plans-historic-federal-ban-on-corporate-price-gouging-in-food-and-grocery-industries">ban price-gouging on groceries</a> (if she were elected U.S. President in November), the blowback from critics was loud and fierce. 
But such laws, which put a floor and a ceiling on consumer goods and services through government mandate, are not new.
For example, President Franklin D. Roosevelt signed into law the Emergency Price Control Act of 1942 to curb inflation during World War II. It was enacted on Jan. 30, 1942 and expired on June 30,1947, <a href="https://www.loc.gov/item/uscode1940-006050a010/">according</a> to the Library of Congress.
Almost 30 years later, President Richard Nixon issued an executive order in 1971 that put a 90-day freeze on wages and prices, following the Economic Stabilization Act of 1970, <a href="https://www.cato.org/commentary/remembering-nixons-wage-price-controls">according</a> to the Cato Institute.
Read Also: <a href="https://feeds2.benzinga.com/personal-finance/24/08/40508841/oleary-on-harris-price-control-plan-thats-beyond-crazy-it-didnt-work-in-the-70s-it-wont-work-now">O&#8217;Leary On Harris&#8217; Price Control Plan: &#8216;That&#8217;s Beyond Crazy&#8217; – It Didn&#8217;t Work In The &#8217;70s, It Won&#8217;t Work Now</a>
There are countless other instances of governments imposing such legislation as far back as the days of the Roman Empire, <a href="https://cdn.mises.org/Forty%20Centuries%20of%20Wage%20and%20Price%20Controls%20How%20Not%20to%20Fight%20Inflation_2.pdf">according</a> to &#8220;Forty Centuries of Wages and Price Controls.&#8221;
Harris presented the price-gouging ban a week ago at <a href="https://www.benzinga.com/news/24/08/40387906/kamala-harris-plans-historic-federal-ban-on-corporate-price-gouging-in-food-and-grocery-industries">a campaign rally</a> in North Carolina. The plan includes sharper scrutiny on potential mergers between supermarkets and food producers, which leads to higher grocery prices as expenses are passed onto consumers.
Grocer association gave the proposal <a href="https://www.benzinga.com/news/24/08/40467624/harris-price-gouging-plan-faces-pushback-from-grocers-hurting-from-the-same-inflationary-pressure-as">the cold shoulder</a>. They argue that they face the same inflationary pressures that consumers do.
When enacted, price control legislation significantly impacts sectors that have a handful of dominant players, such as soda production, tire manufacture, wireless communications and retail.
Price Action: Soda producers saw gains and losses by Friday&#8217;s mid-afternoon trading.
<ul>
<li>The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) dipped 0.19% to $69.20</li>
<li>PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) declined 0.60% to $174.69</li>
<li>Unilver PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>) gained 1.42% to $63.41</li>
</ul>
Tire makers also went in both directions on Wall Street on Friday.
<ul>
<li>The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) jumped 5.12% to $8.93</li>
<li>Bridgestone Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BRDCY#OTC">BRDCY</a>) gained 1.37% to $20.01</li>
<li>Group Michelin (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGDDY#OTC">MGDDY</a>) slipped 0.81% to $19.54</li>
</ul>
Wireless communications providers trended upward. 
<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) gained 0.69% to $41.15</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) went up 0.82% to $19.67</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) rose 0.73% to $197.88</li>
</ul>
Retailers also had a positive day into Friday&#8217;s mid-afternoon trading.
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) improved 0.19% to $75.43</li>
<li>Amazon.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rose 0.47% to $176.96</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) climbed 0.68% to $157.88</li>
</ul>
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Shares of auto-related stocks are trading higher amid overall market strength following Fed Chair Powell's comments about the economy and future rate cuts.

New Assurance WeatherReady&#xAE; 2 is the pinnacle tire for all-weather driving and outperforms leading competitors in wet handling, wet braking and dry handling
AKRON, Ohio, Aug. 20, 2024 /PRNewswire/ -- Today, Goodyear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) introduced the Assurance WeatherReady 2, a tire that delivers unparalleled all-weather performance backed by industry-leading test results in wet handling, wet braking and dry handling. The tire has set a new performance standard for all-season tires, making it the perfect choice for an all-weather solution.

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Goodyear's Assurance WeatherReady 2, Sets New Standard For All-Season Tires With Industry-Leading Test Results

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Shares of automobile and auto component stocks are trading higher amid overall market strength following softer-than-expected July PPI figures, which could alleviate some inflation concerns and boost consumer sentiment outlook.

Shares of Goodyear Tire (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gt#NASDAQ">GT</a>) plunged 33.5% since the company reported second-quarter 2024 results. It reported second-quarter 2024 adjusted earnings per share of 19 cents, surpassing the Zacks Consensus Estimate of 9 cents. The company had incurred a loss of 34 cents in the year-ago quarter.
The company generated net revenues of $4.57 billion, which declined 6.1% on a year-over-year basis and missed the Zacks Consensus Estimate of $4.79 billion due to lower replacement volume.
In the reported quarter, tire volume was 40.1 million units, down 1.7% from the year-ago period&#39;s levels.
<div class="chart_embed">
<h3>The Goodyear Tire &amp; Rubber Company Price, Consensus and EPS Surprise</h3>
<img alt="The Goodyear Tire &amp; Rubber Company Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d7/1723551225.png" style="height:268px; width:568px" title="" />
The Goodyear Tire &amp; Rubber Company price-consensus-eps-surprise-chart | The Goodyear Tire &amp; Rubber Company Quote
</div>
<h3>Segmental Performance</h3>
In the reported quarter, the Americas segment generated revenues of $2.69 billion, which declined 8.2% year over year and missed our estimate of $2.82 billion due to lower replacement volume and unfavorable price/mix. The segment registered an operating income of $241 million, which surged 134% from the year-ago period&#39;s figures. The operating margin benefited from lower transportation costs, Goodyear Forward initiatives and favorable net price/mix. The figure surpassed our expectation of $224.4 million.
Revenues in the Europe, Middle East and Africa segment were $1.28 billion, down 4.6% from the year-ago period&#39;s levels due to the adverse impact of foreign currency exchange rates and lower replacement volume. The figure also missed our estimate of $1.35 billion. The operating income for the segment was $35 million, which rose 284.2% on a year-over-year basis due to favorable net price/mix, a net gain on insurance recoveries and the Goodyear Forward plan.
Revenues in the Asia Pacific segment rose 1.2% year over year to $594 million due to higher original equipment volume but missed our estimate of $615.3 million. The segment&#39;s operating profit was $63 million, up 57.5% from the year-ago quarter&#39;s figure due to favorable net price/mix, higher volume and benefits from the Goodyear Forward plan. The figure, however, missed our estimate of $65.2 million.
<h3>Financial Position</h3>
Selling, general &amp; administrative expenses rose to $731 million from $708 million in the year-ago period.
Goodyear had cash and cash equivalents of $789 million as of Jun 30, 2024, down from $902 million as of Dec 31, 2023.
Long-term debt and finance leases amounted to $6.83 billion as of Jun 30, 2024, the same as of Dec 31, 2023.
Capital expenditure in the quarter was $634 million, up from $536 million reported in the year-ago quarter.
<h3>Updated 2024 Outlook</h3>
Based on recent commodity rates, the company expects a benefit of $260 million on raw material costs in 2024, down from the previous estimate of a benefit of $325-$350 million.
Capital expenditures are expected to be $1.25 billion compared with the previous estimate of $1.2-$1.3 billion.
For the full year, interest expenses are estimated between $510 million and $530 million, down from the previously guided range of $520-$540 million. Depreciation and amortization is expected to be $1 billion.
<h3>Zacks Rank &amp; Key Picks</h3>
GT currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>), BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests a year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 20 cents and 22 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for BYDDY&#39;s 2024 sales and earnings suggests year-over-year growth of 21.11% and 14.73%, respectively. EPS estimates for 2024 and 2025 have improved 14 cents and 19 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 and 2025 have improved 15 cents and 2 cents, respectively, in the past 30 days.
<a href="https://www.zacks.com/stock/news/2321365/goodyear-s-gt-shares-fall-33-5-since-q2-earnings-beat?cid=CS-BENZ-FT-analyst_blog|earnings_article-2321365">To read this article on Zacks.com click here.</a>

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Goodyear's Shares Fall 33.5% Since Q2 Earnings Beat

Goodyear Canada To Invest C$575M In Ontario Plant Expansion, Creating 200 New Jobs; Receives Up To C$44.3M Federal Funding And C$20M From Ontario Government

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 3</a>0, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">ODP Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>)</h3>
<ul>
<li>On Aug. 7, ODP reported worse-than-expected second-quarter financial results and cut its FY24 guidance. "While we are pacing below our prior expectations for the year, we are not standing still. We're taking actions to improve our top-line trajectory and we remain focused on capturing the long-term opportunities derived by our strong value proposition, solid balance sheet, and flexible foundation," said Gerry Smith, chief executive officer of ODP. The company's stock fell around 33% over the past five days and has a <a href="https://www.benzinga.com/quote/ODP">52-week low of $23.69</a>.</li>
<li>RSI Value: 21.13</li>
<li>ODP Price Action: Shares of ODP fell 2.5% to close at $25.52 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to l<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">atest ODP news.</a> </li>
</ul>
<figure class="wp-block-image is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img decoding="async" src="blob:https://editorial.benzinga.com/5f259a12-f9c3-4fec-abc4-9a6912ebc289" alt="" style="width:561px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Goodyear Tire &amp; Rubber Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On July 31, Goodyear Tire &amp; Rubber reported mixed quarterly financial results. &#8220;We demonstrated clear progress on our Goodyear Forward plan in the second quarter, achieving significant margin expansion and securing a definitive agreement to sell our Off-the-Road business,&#8221; said Chief Executive Officer and President Mark Stewart. The company's stock fell around 32% over the past month. It <a href="https://www.benzinga.com/quote/GT">has a 52-week </a>low of $7.63.</li>
<li>RSI Value: 22.49</li>
<li>GT Price Action: Shares of Goodyear Tire fell 2.7% to close at $7.70 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">identify the trend in GT stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="905" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76.png" alt="" class="wp-image-489633" style="width:493px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76.png 905w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76-768x706.png 768w" sizes="(max-width: 905px) 100vw, 905px" /></a></figure>
<h3 class="wp-block-heading">Dutch Bros Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>)</h3>
<ul>
<li>On Aug. 7, Dutch Bros reported quarterly earnings of 19 cents per share which beat the analyst consensus estimate of 13 cents by 46.15%. "Our quarterly performance demonstrates the long runway ahead for Dutch Bros as we once again delivered strong top-line and profitability growth. Revenue rose 30%, including a 4.1% increase in system same-shop sales, and was underpinned by excellent margin flow through. With strong results 2024 to date despite the volatile consumer backdrop and expectations for a robust second half to the year, we are pleased to be raising our annual guidance," said Christine Barone, CEO of Dutch Bros. The company's shares fell around 28% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/BROS">low of $22.66</a>.</li>
<li>RSI Value: 25.27</li>
<li>BROS Price Action: Shares of Dutch Bros fell 2.4% to close at $29.49 on Friday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">breakout in BROS shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="880" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77.png" alt="" class="wp-image-489637" style="width:528px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77.png 880w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77-768x726.png 768w" sizes="(max-width: 880px) 100vw, 880px" /></a></figure>
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Shares of auto-related companies are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

Shares of auto-related companies are trading lower amid overall market weakness following weak US data.

Goodyear Tire & Rubber shares are trading lower after the company reported mixed Q2 financial results.

Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.13 by 46.15 percent. This is a 155.88 percent increase over losses of $(0.34) per share from the same period last year. The company reported quarterly sales of $4.570 billion which missed the analyst consensus estimate of $4.780 billion by 4.39 percent. This is a 6.10 percent decrease over sales of $4.867 billion the same period last year.

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Goodyear Tire & Rubber Q2 2024 Adj. EPS $0.19 Beats $0.13 Estimate, Sales $4.570B Miss $4.780B Estimate

Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) has entered into a definitive agreement to sell its Off-the-Road (OTR) tire business to The Yokohama Rubber Company, Limited for $905 million in cash, as a part of its broader <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39876632/goodyear-announces-sale-of-off-the-road-tire-business-to-yokohama-for-905-million" rel="noreferrer noopener">Goodyear Forward transformation plan.</a>
Yokohama will acquire Goodyear&#8217;s OTR tire segment, which is renowned for providing high-quality tires for mining, construction, and industrial markets globally.
&#8220;The sale of the OTR business marks an important milestone as we continue to execute against our Goodyear Forward transformation plan,&#8221; said&nbsp;Mark Stewart, Goodyear Chief Executive Officer and President.
Goodyear will continue to supply OTR tires for U.S. military and defense applications. Additionally, through a Product Supply Agreement, Goodyear will manufacture certain OTR tires for Yokohama at specific facilities for up to five years post-transaction.
The transaction, pending regulatory and customary approvals, is expected to close by early 2025.
The proceeds from the sale will help Goodyear reduce debt and support initiatives under the Goodyear Forward transformation plan.
Price Action: GT shares closed lower by 1.71% at $12.10 on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

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Goodyear Sells OTR Tire Business To Yokohama For $905M: Details

The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) (&quot;Goodyear&quot; or the &quot;Company&quot;) today announced that it has signed a definitive agreement to sell its Off-the-Road (&quot;OTR&quot;) tire business to The Yokohama Rubber Company, Limited (TYO:<a class="ticker" href="https://www.benzinga.com/stock/TYO:5101#TYO">5101</a>) (&quot;Yokohama&quot;) for&nbsp;$905 million&nbsp;in cash. The transaction follows a previously announced strategic review of the OTR tire business in connection with the Goodyear Forward transformation plan.
<a href="https://mma.prnewswire.com/media/95226/goodyear_tire_and_rubber_company_logo.html" target="_blank"><img alt="The Goodyear Tire &amp; Rubber Company, Akron, Ohio, USA. (PRNewsFoto/Goodyear Tire &amp; Rubber Company)" src="https://mma.prnewswire.com/media/95226/goodyear_tire_and_rubber_company_logo.jpg" /></a>
Goodyear&#39;s OTR tire business provides industry-leading OTR tires around the world for surface and underground mining, construction and quarry, and port and industrial end markets. Goodyear OTR offers a comprehensive suite of trusted products, services and tire management solutions that help customers optimize their operations and improve productivity and efficiency.
&quot;The sale of the OTR business marks an important milestone as we continue to execute against our Goodyear Forward transformation plan,&quot; said&nbsp;Mark Stewart, Goodyear Chief Executive Officer and President. &quot;We are grateful to our OTR colleagues who have driven the success of the business and are committed to working closely with&nbsp;Yokohama&nbsp;to ensure a smooth transition for customers and associates.&quot;
Goodyear will retain its business providing OTR tires for U.S. military and defense applications. Pursuant to a Product Supply Agreement to be entered into with&nbsp;Yokohama&nbsp;in connection with the closing of the transaction, Goodyear will manufacture certain OTR tires for&nbsp;Yokohama&nbsp;at some of its manufacturing locations for an initial period of up to five years after the closing of the transaction.
The transaction is subject to regulatory approvals, other customary closing conditions and consultations and is expected to close by early 2025. Goodyear intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan.

TYO:5101

Goodyear to Sell Off-the-Road Tire Business to Yokohama for $905M

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Morgan Stanley analyst Ross MacDonald initiated coverage on The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) with an Equal-Weight rating, while announcing a price target of $14. Goodyear Tire shares rose 2.9% to close at $11.98 on Wednesday. <a href="https://www.benzinga.com/quote/GT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs analyst Christine Cho initiated coverage on McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) with a Neutral rating and announced a price target of $288. McDonald&#8217;s shares rose 0.1% to settle at $254.48 on Wednesday. <a href="https://www.benzinga.com/quote/MCD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Maxim Group analyst Thomas Forte initiated coverage on Winmark Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WINA#NASDAQ">WINA</a>) with a Buy rating, while announcing a price target of $445. Winmark shares rose 3.8% to settle at $355.70 on Wednesday. <a href="https://www.benzinga.com/quote/WINA/analyst-ratings">See how other analysts view this stock. See how other analysts view this stock.</a></li>
<li>TD Cowen analyst Gabe Daoud initiated coverage on Civitas Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>) with a Buy rating and announced a price target of $90. Civitas Resources shares fell 0.4% to close at $67.55 on Wednesday. <a href="https://www.benzinga.com/quote/CIVI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Goldman Sachs analyst Christine Cho initiated coverage on Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) with a Buy rating, while announcing a price target of $612. Domino&#8217;s shares rose 0.7% to settle at $531.40 on Wednesday. <a href="https://www.benzinga.com/quote/DPZ/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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Morgan Stanley analyst Ross MacDonald initiates coverage on Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) with a Equal-Weight rating and announces Price Target of $14.

Price Target

Morgan Stanley Initiates Coverage On Goodyear Tire & Rubber with Equal-Weight Rating, Announces Price Target of $14

HSBC analyst Wesley Brooks maintains Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) with a Buy and lowers the price target from $16.8 to $15.9.

HSBC Maintains Buy on Goodyear Tire & Rubber, Lowers Price Target to $15.9

Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $0.01 by 900 percent. This is a 134.48 percent increase over losses of $(0.29) per share from the same period last year. The company reported quarterly sales of $4.537 billion which missed the analyst consensus estimate of $4.815 billion by 5.78 percent. This is a 8.18 percent decrease over sales of $4.941 billion the same period last year.

Goodyear Tire & Rubber Q1 2024 Adj EPS $0.10 Beats $0.01 Estimate, Sales $4.537B Miss $4.815B Estimate

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) to report quarterly earnings at 39 cents per share on revenue of $13.16 billion before the opening bell, according to data from Benzinga Pro. Tyson Foods shares rose 0.1% to $62.05 in after-hours trading.</li>
<li>Analysts are expecting The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>) to post quarterly earnings at 48 cents per share on revenue of $2.69 billion. The company will release earnings after the markets close. Williams shares gained 0.4% to $38.82 in after-hours trading.</li>
<li>Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) announced a reduction in its workforce by 20% and filed for a mixed shelf. Luminar shares fell 9.5% to $1.52 in the after-hours trading session.</li>
</ul>
Check out our <a href="http://&quot;https://www.benzinga.com/premarket/">premarket coverage here</a> 
<ul>
<li>After the closing bell, The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) is projected to post quarterly earnings at 1 cent per share on revenue of $4.82 billion. Goodyear Tire shares fell 1.5% to $12.06 in after-hours trading.</li>
<li>Analysts expect Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) to post a quarterly loss at $1.45 per share on revenue of $1.27 billion before the opening bell. Spirit Airlines shares rose 3% to $3.8198 in after-hours trading.</li>
</ul>
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Morgan Stanley analyst Ross MacDonald maintained a Hold rating on GoodYear Tire (GT – Research Report) today and set a price target of $10.20. The ...

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