Titan International Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of wheel and tire manufacturer Titan International (NYS: TWI) rolled up a 12.6% gain on heavy trading with a couple of conspicuous volume spikes.
So what: Titan itself didn't say much today, but the company also makes farm-equipment tires sold under the Goodyear Tire & Rubber (NYS: GT) Goodyear Farm brand. That partner is up more than 5% today after CFO Darren Wells spoke at an investor conference today to talk up the positive trends in the tire market.
Now what: Besides Goodyear tooting the industry's horn, commercial machinery stocks are up all over the place today, including a 13% gain for perennially troubled Dana Holding (NYS: DAN) and a 5% boost for everybody's favorite customer, Caterpillar (NYS: CAT) . It all amounts to a sigh of relief that the sky might not fall after all. However, every stock mentioned is still down by at least 20% over the past month, so there are still plenty of bargains to be enjoyed in this sector.
Interested in more info on Titan International? Add it to your watchlist.
At the time this article was published Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.
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