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Sector Wrap - USA - Trucking Stocks Shake Slump
NEW YORK,NY,USA -chron.com/AP, by BY JAMES AMEND -Aug. 15, 2006: -- Shares of major trucking companies continued to post gains Tuesday, a day after the stocks began to shake off six weeks worth of profit taking and investors geared up for the industry's busiest months... Among the biggest gainers was Old Dominion Freight Line Inc., which added $1.88, or 6.2 percent, to close at $32.46 on the Nasdaq. Since closing at $29.83 on Friday, the stock has regained 8 percent of its value _ after giving up 24.5 percent over the previous six weeks. Shares of Arkansas Best Corp. added another $1.74, or 4.1 percent, to close at $44.14 on the Nasdaq. The stock is up 5.7 percent over the last two trading sessions after shedding 17.6 percent in the preceding six weeks... Jon A. Langenfeld, an analyst at Robert W. Baird, said demand moderated as expected in July, but the industry is reporting solid pricing gains as it heads into peak season...
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