Goodyear Tire warns that earnings may be hurt by strong dollar; shares fall

MarketsAssociated Press

Shares of Goodyear Tire fell Tuesday after it warned that its fourth-quarter earnings may be hurt by the strong dollar, demand weakness in Europe and warmer-than-expected winter weather.

The tire maker said it expects its fourth-quarter earnings to be hurt by between 15 cents per share and 20 cents per share.

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The company, based in Akron, Ohio, made the announcements at Deutsche Bank's Global Auto Industry Conference in Detroit Tuesday. The presentation was filed to the Securities and Exchange Commission.

Shares of The Goodyear Tire & Rubber Co. fell $1.90, or 6.76 percent, to $26.14 in afternoon trading Tuesday.