Good News for Goodyear Shares

There was good news for Goodyear Tire & Rubber on Wednesday, as its shares closed at a 52-week high thanks to analysts recommending its stock.

The shares closed at $11.42, and were up 44 cents which meant the company’s stock has not closed below its 10-week moving average since late May.

Last month the manufacturer ended a six-quarter losing streak by posting a second quarter profit of $25.1 million, which equated to 14 cents a share, this figure compared with a loss of $53 million, or 30 cents per share, recorded in 2003.