Thursday, June 21, 2012, 1:43 PM
Tire stocks trade lower after Bridgestone (BRDCF.PK) warns that it may reduce its H2 production, with the usual suspects - Europe and China - the rationale behind the cuts. Decliners: CTB -2.6%, GT -3.6%, AMTY -6.9%, MGDDF.PK -6.9% in Paris trading.
Comment![On the Move, Consumer]
Tuesday, June 19, 2012, 7:34 AM
A sizable rubber supply deficit is set to 180 into a massive glut thanks to a material slowdown in China. The resulting price drop will cut income for producers, but slash costs for tire makers like Goodyear (GT), Bridgestone (BRDCF.PK), Michelin (MGDDF.PK).
1 Comment[Commodities]
Tuesday, April 24, 2012, 8:36 AM
"The Chinese market is in an adjustment phase," says Bridgestone (BRDCF.PK) exec Maki Ohashi, expecting growth in tire sales to move in line with GDP growth (7.5-8%) rather than exceeding it as it's done in the past. Passenger-car sales in China fell 1.3% in Q1, the first decline since 2005.
Comment![Global & FX]
Tuesday, January 10, 2012, 8:08 AM
Tire makers Michelin (MGDDY.PK) and Bridgestone (BRDCF.PK) look set to benefit from an increase in demand for tires that's lining right as the firms' raw costs for rubber starts to wane. A 7% increase in global output tied to higher-producing plantations from Indonesia to Ivory Coast has pushed rubber futures down 12% this year already. Other tire names to watch: CTB, GTComment![Global & FX, Quick Ideas]
Thursday, September 15, 2011, 8:18 PM
Japanese tire and rubber company Bridgestone (BRDCF.PK) pleads guilty and is fined $28M for bid-rigging and bribery of foreign officials, according to the DOJ. The company's illegal activities were related to the sale of marine hose and other industrial products.
Comment![Global & FX]