One tire company stock stands tall after the first nine months of year: Bridgestone Corp.
Bridgestone was the only publicly traded tire manufacturer to increase its stock price for the first nine months of the year, from $17.71 to $18.47, a 4.2% increase.
In addition, the company was one of only four tire companies to experience increases in the third quarter. The others were fellow Japanese tire manufacturers Sumitomo Rubber Industries Ltd. and Yokohama Rubber Co., plus Cooper Tire & Rubber Co.
Here are the gains and losses in the third quarter and first nine months (companies are listed alphabetically). Nexen Tire Corp. is not included because it announced a 10-for-1 stock split on March 14, 2008.
Entering 2008, Nexen's stock was trading at $43.19. From June 30 to Sept. 30, Nexen's stock price dropped 28.1%, from $2.66 to $1.91.
* Bridgestone: 3Q, up 20.3% (from $15.35 to $18.47); nine months, up 4.2%(from $17.71 to $18.47);
* Continental AG: 3Q, down 19.4% (from $102.01 to $82.12); nine months, down 36.5% (from $129.37 to $82.12);
* Cooper: 3Q, up 9.6% (from $7.84 to $8.60); nine months, down 48.1% (from $16.58 to $8.60);
* Federal Tire Corp.: 3Q, down 33.3% (from $.54 to $.36); nine months, down 28% (from $.50 to $.36);
* Goodyear Tire & Rubber Co.: 3Q, down 14.1% (from $17.83 to $15.31); nine months, down 45.7% (from $28.22 to $15.31);
* Groupe Michelin: 3Q, down 11.7% (from $71.85 to $63.41); nine months, down 45.7% (from $116.79 to $63.41);
* Hankook Tire Co. Ltd.: 3Q, down 1% (from $13.90 to $13.75); nine months, down 28% (from $19.11 to $13.75);
* Kenda Rubber Industrial Corp. Ltd.: 3Q, down 19.6% (from $.56 to $.45); nine months, down 6.2% (from $.48 to $.45);
* Kumho Tire Co.: 3Q, down 26.3% (from $8.54 to $6.29); nine months, down 57.8% (from $14.94 to $6.29);
* Nankang Rubber Tire Corp. Ltd.: 3Q, down 20.8% (from $.91 to $.72); nine months, down 14.2% (from $.84 to $.72);
* Nokian Tyres plc: 3Q, down 51.6% (from $48.01 to 23.21); nine months, down 33.7% (from $35.06 to $23.21);
* Pirelli & Cie SpA: 3Q, down 14.4% (from $.69 to $.59); nine months, down 45.3% (from $1.08 to $.59);
* Stamford Tyres International Pte Ltd.: 3Q, down 29.1% (from $.24 to $.17); nine months, down 26% (from $.23 to $.17);
* Sumitomo Rubber: 3Q, up 14.4% (from $7.54 to $8.63); nine months, down 3% (from $8.90 to $8.63);
* Titan International Inc.: 3Q, down 40.1% (from $35.62 to $21.32); nine months, down 31.7% (from $31.26 to $21.32);
* Toyo Tire & Rubber Co. Ltd.: 3Q, down 16.8% (from $3.27 to $2.72); nine months, down 26.6% (from $3.71 to $2.72);
* Yokohama Rubber: 3Q, up 12.8% (from $4.74 to $5.35); nine months, down 11.8 (from $6.07 to $5.35).
Exchange rates versus the United States dollar from Dec. 31, 2007, to June 30, 2008, to Sept. 30, 2008, are as follows:
1. Euro: .6794 to .6352 to .6923.
2. Taiwanese dollar: 32.52 to 30.349 to 32.16.
3. Won: 936.53 to 1046.46 to 1186.94.
4. Yen: 112.35 to 106.18 to 105.904.
5. Dollar (Singapore): 1.4467 to 1.3605 to 1.4307.
