UPDATE 3-Goodyear cutting back on private label tires


(Adds to analyst's remarks, updates stock activity) By David Bailey CHICAGO, June 21 (Reuters) - Goodyear Tire & Rubber Co. on Wednesday said it will cut one-third of its North American private label tire business, trimming production in the key region by 8 percent to focus on more profitable lines. Goodyear, whose shares rose 4 percent, also said that 2006 operating income in its key North American Tire unit will fall below 2005 levels because of weak tire demand industrywide and ...

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