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TRUCKING INDUSTRY NEWS * USA & Canada
* What will happen to transport stocks if the Federal Reserve cuts rates? May Move Trucking Sector
New York,NY,USA -Credit Suisse/barrons.com -17 Sept 2007: -- ... According to our analysis, it appears that truckload stocks are the clear outperformer as on average the Index appreciated over 20% 180 days after rate cuts during both the 1991-1992 period and the 2001-2003 timeframe. If the Fed begins to ease its monetary policy, investors may want to consider becoming more constructive on shares of truckload stocks. While we were surprised that less-than-truckload stocks did not show equivalent gains given natural leverage in the business, we note that the truckload typically recovers earlier in anticipation of an economic upswing...
* S&P: Swift Corp. ratings on ‘watch negative,’ trucking sector pressures cited
New York,NY,USA -The Trucker News Services -17 Sept 2007: -- Standard & Poor’s Ratings Services on Friday placed its ratings for Swift Corp., including the long-term ‘B’ corporate credit rating, on “CreditWatch” with negative implications. The CreditWatch placement reflects Swift’s somewhat worse-than-expected operating performance in recent months and concerns over its near-term operating performance given the slowing U.S. economy and the pressures currently being experienced by the trucking sector, according to the S&P report. Swift Corp. is the holding company for Swift Transportation Co. Inc., a Phoenix-based truckload carrier...
* Trucking trusts stuck for growth options
Canada -The Globe and Mail, by Boyd Erman -September 17, 2007: -- TransForce Income Fund used to run on a simple formula -- use debt to fund small acquisitions, watch needle on debt gauge climb to 1.5 times earnings before interest, taxes, depreciation and amortization, head to capital markets touting 30 per cent annual revenue growth rate and sell units to lower debt... According to RBC Capital Markets analyst Walter Spracklin, TransForce is likely to keep buying, and privately owned companies such as Armour Transportation and XTL Group of Companies, could be targets if TransForce can find a way to get to the price... But, thanks to the changes in the trust world that limit the number of units TransForce can sell, debt is creeping up and the company must now look at alternative ways to keep funding growth...
posted by Unknown @ 4:38 PM
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