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LATE TRADING: Goodyear Shares Down On Plant Closure January 5, 2007

Posted by notapundit in Economic News.
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NEW YORK (Dow Jones)–Shares of Goodyear Tire & Rubber Co. (GT) fell 1% to $23.05 in late trading Friday after the company said it plans to close its tire manufacturing facility in Casablanca, Morocco.

Goodyear expects to post charges associated with the closure of about $28 million and to record them in the fourth quarter of 2006.

Hertz Global Holdings Inc. (HTZ) had yet to trade after the company said it plans to eliminate 200 jobs and projected $15.8 million in annualized savings from the job cuts.

Shares of Multi-Fineline Electronix Inc. (MFLX) fell 0.4% to $19.40 after the company extended the deadline on its buyout offer for MFS Technology Ltd. to March 31, and will hold a shareholder vote on the matter despite management opposition.

Actel Corp. (ACTL) was up 6 cents at $17.64 after the company said it received a non-compliance notice from Nasdaq.

Meanwhile, shares of Alliant Techsystems Inc. (ATK) rose 0.3% to $78.57 after NASA approved a $48 million agreement with the company’s ATK Thiokol unit.

NYSE Group Inc. (NYX) was down 3 cents at $102.36 after the company said its December NYSE Group Matched Volume was up 4.4% at 1.69 million. Also, NYSE-listed Issues Group Handled Volume climbed 5.4% to 1.73 million.

Mediacom Communications Corp. (MCCC) was down 1 cent at $7.66 after the company said it will stop carrying 22 network affiliates owned or programmed by Sinclair Broadcast Group Inc. (SBGI) at midnight ET Friday unless Sinclair agrees to binding arbitration of a dispute about how much Mediacom should pay to carry the stations.

By Nicole Urbanowicz, Dow Jones Newswires

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