Cooper Tire & Rubber (CTB) drops 29.2% after reporting Q2 revenue of $922M (+15% Y/Y) and...

|About: Cooper Tire & Rubber Co. (CTB)|By:, SA News Editor

Cooper Tire & Rubber (CTB) drops 29.2% after reporting Q2 revenue of $922M (+15% Y/Y) and EPS of $0.18, well below a consensus of $979.9M and $0.41. The company blames the shortfall on weak consumer demand and high raw material prices, and says it will "likely" reduce its goal of increasing tire production by 10% in 2011. (PR)