Cooper Lowers Estimate
Cooper Tire & Rubber has reduced its first quarter earnings estimate in response to falling US demand and rising costs – industry-wide, tyre shipments in the US fell 8 per cent during the first two months of this year. The new forecast from Cooper is for net income to be between 17 cents and 21 cents a share, compared with the figure given by CEO Thomas Dattilo in early February of 26 to 31 cents a share..
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