Welcome to our dedicated page for CTB news (Ticker: CTB), a resource for investors and traders seeking the latest updates and insights on CTB stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CTB's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CTB's position in the market.
Cooper Tire has partnered with Vanguard National Trailer Corporation to make the Cooper® PRO Series™ LHT trailer tire standard equipment on all their dry and refrigerated van trailers. Vanguard's CEO, Charlie Mudd, highlighted the decision as part of their commitment to quality, emphasizing the superior mileage and fuel efficiency of Cooper's tires. Cooper's Global Truck and Bus Tire Executive Director Gary Schroeder noted the tire's low cost of ownership and strong warranty, which includes a seven-year coverage with full replacement for the first 50% of tread life.
Cooper Tire & Rubber Company (NYSE: CTB) reported 2020 net income of $143 million or $2.83 per share, up from $96 million or $1.91 in 2019. However, net sales fell to $2.52 billion from $2.75 billion, reflecting a 13% decline in global unit volume. Operating profit rose 32.3% to $231 million. For Q4 2020, sales dropped 2.9% to $728 million, while operating profit decreased to $60 million. A definitive agreement was announced for Goodyear to acquire Cooper for approximately $2.5 billion, pending regulatory and shareholder approvals.
Goodyear Tire & Rubber Company (Nasdaq: GT) announced its acquisition of Cooper Tire & Rubber Company (NYSE: CTB) for approximately $2.5 billion. The deal, approved by both companies' boards, includes cash and stock options, providing Cooper shareholders with $54.36 per share, marking a 24% premium over Cooper's closing share price before the announcement. This acquisition aims to enhance Goodyear's market presence, particularly in North America and China, and generate an expected $165 million in cost synergies within two years.
Cooper Tire & Rubber Company (NYSE: CTB) has declared a quarterly dividend of 10.5 cents per share on common stock, scheduled for payment on March 26, 2021. Stockholders of record will be those with holdings at the close of business on March 1, 2021. This announcement marks the 196th consecutive quarterly dividend paid by the company, demonstrating its commitment to returning value to shareholders.
Cooper Tire & Rubber Company (NYSE: CTB) is set to announce its fourth quarter and full year 2020 financial results on February 22, 2021, before the U.S. stock markets open. Following the announcement, management will hold a conference call at 10 a.m. EST to discuss financial results and the future business outlook. Investors can access the live webcast via the company’s investor relations page and the recording will be archived for 90 days.
Cooper Tire & Rubber Company (NYSE: CTB) has appointed Tyrone Michael (T.J.) Jordan as a director, effective January 10. Jordan brings over three decades of experience, including roles as President and COO at DURA Automotive Systems and significant positions at General Motors and United Technologies Corporation. He holds an Executive MBA from the University of Tennessee and also serves on the boards of TPI Composites, Oshkosh Corporation, and Trinity Industries. Chairman John J. Holland highlighted Jordan's valuable automotive experience to help Cooper meet consumer demand.
Avon motorcycle tires were used in the restoration of Evel Knievel's iconic 1968 Laverda motorcycle, unveiled on Nov. 6 at the Evel Knievel Museum in Topeka, Kansas. The restoration was led by Louis “Rocket” Re, who secured Avon Safety Mileage MKII tires for the project. Avon’s Global Manager highlighted the blend of classic design and modern performance in their tires. Evel Knievel, famed for his motorcycle jumps, is a celebrated figure, and the restored bike will be displayed at the museum for two years alongside other memorabilia.
