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Goodyear stock stumbles 11% after quarter ‘played out differently than we expected’

Goodyear Tire & Rubber Co. shares slid as much as 11% Friday, leading S&P 500 decliners, after the company slashed its outlook for the rest of the year and said its second quarter did not pan out as expected.

Other tire makers were swept up in the Goodyear GT, -8.37% down draft, with Cooper Tire & Rubber Co. CTB, -6.16% shares down 6% and American depositary receipts of Bridgestone Corp. BRDCY, -1.57% off 1.6%. American Axle & Manufacturing shares AXL, -3.56% lost 3.6%.

Goodyear stock closed down 8.4% at $32.51 Friday, its lowest in two months.

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