Goodyear Tire & Rubber Company - an American multinational company, a manufacturer of tires and other rubber products and polymers for automotive and industrial markets. Founded in 1898 in Akron, Ohio, the main controls are located in the same place and at the present time. Goodyear manufactures tires for passenger cars, trucks, motorcycles, racing cars, aircraft, agricultural and earth-moving machinery.
The company is named after Charles Goodyear, inventor of vulcanized rubber. Founder Frank Goodyear Ziberling made a symbol of Talara - mythical winged sandals. In 1901 Goodyear supplied Henry Ford racing tires. In 1903, the Chairman of the Board Paul Litchfield Goodyear received a patent for the world's first removable tire, and in 1908 Ford equipped the car Model T Goodyear tires. In 1909, Goodyear introduced the first pneumatic tires for aircraft equipment and is only part of the early history of the company. Goodyear is well recognizable due to one more of his character - an airship. The company released balloons in the early 20th century, and the first promotional airship was launched in 1925.
Today, Goodyear blimps are considered one of the most famous advertising images in the United States. The company is the most successful manufacturer of tires for cars of Formula 1, he owns records in the number of starts, the victories and the Constructors' Cup. However, after the 1988 season, the company has ceased to work with the Formula-1, and it is currently the only supplier in the racing series NASCAR.
The financial report for the 1st quarter of 2016 showed a significant decline in sales and the company's revenue.In the 1st quarter 2015 revenue of $ 4,02B, whereas in 2016 this figure dropped to $ 3,69B. EPS increased to $ 0.72 in 2016 from $ 0.54 in 2015, remaining, however, below the forecast $ 1.03. Net income for the reporting period amounted to $ 189 million, which is 20% below last year's $ 236 million. Despite the drop in income, sales, and many other fine performance, the Goodyear tries to be attractive to potential investors. The site provides an interactive panel, allows you to receive information in different ways, including contact with the top officials of the company to view all available reports or subscribe especially important news to the newsletter.May 24 marked the beginning of the corporation unofficial summer driving appearance in the Concord Mills Mall champion of NASCAR Sprint Cup Series Kevin Harvick, who with his crew inspecting the depth of tread on the tires clients. June 7 Goodyear has provided an overview of the company's strategy and the current situation, recording and text version will be available later, but a negative impact on the price of an asset already noticeable.
In April, the price of shares of Goodyear (GT.US) went down sharply on weak financial performance. At the moment, the price was fixed in the range of 28.00 - 26.70, 27.00 and the current level is close to the minimum of the range, which suggests a possible increase with the formation of a new high within the resistance 28.00 and the rebound from the line in the direction of test support 25.50 in the medium term. All technical indicators signal to sell an asset, but reducing factors have great strength at the moment, which indicates an increase in prices in the short term. That is why to sell shares should be started with the rebound from the level of 28.00 at the price of 27.50. Stop Loss set at around 28.30.
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Author analysts Maxim Lence
Financial analyst AMarkets.
He has extensive experience of trading in the currency markets and options exchanges. In its trading strategy uses a combination of fundamental and technical indicators, as well as a unique portfolio of indicators and advisors for the most accurate forecast of the market situation. Financial literacy, based on specialized education, helps to see the market and the processes occurring in it from the inside. I understand the different types of trading instruments and their specificity.