Goodyear Shares Gain 6% On Rosy Report

SAN FRANCISCO -- Goodyear Tire & Rubber Co. shares gained more than 6% to $13.29 early Thursday after the tire giant reported an unexpected fourth-quarter profit of 7 cents a share, excluding several one-time items. Analysts were looking for a loss of 7 cents a share. Unadjusted, Goodyear swung to a loss of $177 million. Sales rose to $5.1 billion from $4.4 billion, topping Wall Street targets. Goodyear also announced plans to close its plant in Union City, Tenn., which employs 1,900, by the end of 2011. The stock has added 12% in the past year.