Wednesday, Jul 27, 2016
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Q3 Report: Dana, Libbey and MBT

■ Libbey posts smaller 3rd profit

Libbey Inc. said Tuesday it has reached agreements with its four labor unions in Toledo, and said internal organizational restructuring across the company over the last two years has the table glass and stemware maker well-positioned for the long haul.

But for now, Libbey is largely at the mercy of weak global demand for its products across most business sectors, company executives said.

 

■ 3rd quarter earnings send Dana shares tumbling 15%

Dana Holding Corp.’s stock price was hammered on Tuesday as the auto parts supplier missed analysts estimates for its third quarter earnings.

Shares of the company's stock slumped nearly 15 percent to their lowest level in four months, closing at $19.28, down $3.36 a share.

 

■ MBT posts $21.3M 3Q profit

MBT Financial Corp., the parent firm of Monroe Bank & Trust, on Tuesday reported a third-quarter profit of $21.3 million, or $1.17 per share, a 1,433 percent increase over the same quarter a year ago when the company had a profit of $1.4 million, or 8 cents a share.

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