FINDLAY, Ohio (March 28)—Cooper Tire & Rubber Co. has revised its first-quarter earnings forecast downward to 17-21 cents per share, down from analyst consensus estimates of 25 cents per share. The firm attributed the lower expectations to continuing weakness in the North American replacement tire market, weak product mix and high raw materials costs. In advance of Cooper's disclosure of lower earnings expectations, McDonald Investments downgraded the tire maker March 24 to hold from buy. Cooper plans to release its first quarter results April 17.
Cooper revises first-quarter earnings downward
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