Goodyear expects its fourth-quarter profit to drop.
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A restructuring program started after the firm fended off Sir James Goldsmith’s takeover attempt is expected to result in a $150-million drop in fourth-quarter earnings, Goodyear Tire & Rubber said. The company also expects to begin its previously reported plan to buy back 40 million of its common shares at $50 each. The firm said it has already spent more than $618 million to buy back stock that had been acquired by Goldsmith.
