Shares of American Commercial Lines Rise

The Jeffersonville, Ind.-based company said late Monday Senior Vice President of Sales and Marketing Michael P. Ryan had been named to the posts of president and chief executive, effective March 1. He replaces Mark Holden, who has held the positions since 2005.

Analyst Kevin Crissey said "the combination of very poor financial results (particularly relative to expectations), the severe drop in the stock price," among other factors, made him "unpopular with many investors."

American Commercial also said Monday its fourth-quarter profit fell 32 percent, hurt by a several one-time charges and a year-ago quarter that benefited from a business sale.

Cantor Fitzgerald analyst Natasha Boyden dropped coverage of American Commercial Lines Tuesday, citing "ongoing management instability" and a lack of "perspective" after the company said it would suspend earnings guidance.

American Commercial Lines cited a weak U.S. economy, rising fuel costs and "unpredictable" weather patterns preventing it from accurately forecasting financial results.

"Based on these issues, we believe we can no longer provide investors with perspective on the present or future performance of the company, management and the performance of American Commercial shares," Boyden said.

Shares rose 65 cents, or 3.7 percent, to close at $18.25, after trading as high as $20.30 earlier in the session. The stock has traded between $12.60 and $39.87 in the past year.