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Shares down - USA - Trucking firms applying brakes
New York,NY,USA -Bloomberg News -Mar 24, 2006: -- Shares of trucking companies got stuck in reverse Thursday after the price of oil surged and the nation's largest trucker revised sharply downward its first-quarter profit outlook... The Dow Jones transportation average dropped from a record high, plunging 91.68 points, or 2 percent, to 4523.26, its biggest fall since June... Shares of YRC Worldwide Inc., formerly known as Yellow Roadway Corp., tumbled nearly 15 percent... Swift Transportation Co., the nation's second-biggest trucking company by sales, fell $1.05, or 4.6 percent, to $21.92... J.B. Hunt Transport Services Inc., the third largest, declined 99 cents, or 4.3 percent, to $22.04... Ryder System Inc., the nation's largest truck-leasing company, lost $1.35, to $44.56... Andrew West, an equity analyst at Standard & Poor's, said it's not yet clear whether the issues YRC blamed in cutting its forecast signal a slowing for other freight haulers or are unique to the company... "It could very well be that there is a little bit of each"...
posted by Unknown @ 1:52 PM
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