Why Shares in Goodyear Popped Higher Today

Shares in tire maker Goodyear Tire & Rubber Co (NASDAQ: GT) rose by as much as 6.2% at 11:30 a.m. today. The positive move comes as a sharp price correction in oil led investors to factor in better earnings outcomes for Goodyear. Goodyear's exposure to oil The tire maker's exposure to oil comes from two main areas. First, higher oil prices mean higher gasoline prices, and that usually results in a moderation in miles driven. That's bad news for tire companies, as about 70% of industry demand for tires come ...