Orlando, FL -- (SBWIRE) -- 10/30/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On The Goodyear Tire & Rubber Company (NASDAQ:GT), United States Steel Corporation (NYSE:X).
The Goodyear Tire & Rubber Company (NASDAQ:GT) shares decreased 5.85% to $20.76. The company on Oct. 29 said its third-quarter profit rose 51 percent on strong performances in Latin America and North America.
The company earned $166 million, or 62 cents per share, for the July-September period. Excluding charges, Goodyear earned 68 cents per share, beating the Wall Street estimate by 1 cent. Revenue fell to $5 billion from $5.26 billion, hurt by a drop in chemical sales in North America and changes in the value of Asian currencies. Analysts polled by FactSet expected higher sales of $5.27 billion.
Additionally, Deutsche Bank analyst Rod Lache downgraded the rating on The Goodyear Tire & Rubber Company on Oct. 21 from Buy to Hold, and lowered the price target from $29.00 to $26.00.
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United States Steel Corporation (NYSE:X) shares gained 8.75% to $25.47. The company on Oct. 29 announced that the Board of Directors declared a dividend of five cents per share on U. S. Steel Common Stock. The dividend is payable December 10, 2013, to stockholders of record at the close of business November 13, 2013.
Additionally, the company on Oct. 28 said it swung to a third-quarter loss as the steel-maker took an after-tax goodwill impairment charge related to a writedown in the value of two of its North American units.
The net loss was $1.80 billion, or $12.38 per share, for the third quarter ended Sept. 30, from a profit of $44.4 million, or 28 cents per share, a year earlier. On an operating basis, the company posted a loss of 14 cents per share. Revenue fell more than 11 percent to $4.13 billion. Analysts on average were expecting the steelmaker to report a loss of 43 cents per share on revenue of $4.32 billion.
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