Consumer Cyclical Sector Review: Ford Raises Stakes for Car Makers
Cooper Tire & Rubber Co. (NYSE:CTB): Cooper Tire and United Steelworkers Local 752L reached a tentative agreement on a new four-year labor contract before the current contract was scheduled to expire. Details of the agreement are being held pending presentation to the Union’s membership. The proposal will be presented to Union members for ratification next week.
The shares closed at $15.16, up $0.81, or 5.64%, on the day. Its market capitalization is $944.18 million.
Ford Motor Company (NYSE:F): Chrysler and General Motors (NYSE:GM) say that there will be no decision made on raises or bonuses for their salaried employees once financial results are tallied, and will not be determined by Ford’s announcement last week that it will give its 20,000 white-collar workers in the U.S. and Canada 2.7% raises, the Detroit News reports.
The shares closed at $12.59, down $0.02, or 0.16%, on the day. Its market capitalization is $47.84 billion.
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