Log in to your IBTimes Account

close
ID
Password

Sector Snap: Trucking



By AP
20 August 2008 @ 12:49 pm EST

NEW YORK - Shares of many trucking companies stayed in negative territory at midday Wednesday, as the broader market hung on to gains and oil prices fell.

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
ABFS 22.58 1.98
CLDN 5.01 -0.85
JBHT 23.79 1.55
ODFL 19.11 0.07
LSTR 28.85 -0.61
WERN 16.63 0.89
YRCW 2.3 0.74

SYMBOL LOOKUP

The Energy Department said crude inventories expanded by a surprising 9.4 million barrels in the week ended Aug. 15--much more than the average analyst forecast--sending a barrel of oil down 89 cents to $113.64 on the New York Mercantile Exchange.

Trucking company shares have been lackluster in recent sessions, with investors concerned about fuel costs, weak demand and tight credit. Avondale Partners estimated that bankruptcies have taken about 88,000 trucks off the road in the first half of the year. That is around 4.5 percent of industry capacity.

Shares of Arkansas Best fell 50 cents to $35.44. Celadon Group lost 25 cents at $12.65. JB Hunt Transport Services gave up 46 cents at $36.42.

Old Dominion freight Line rose 4 cents to $34.54. Landstar System added 29 cents at $50.12. Werner Enterprise lost 28 cents at $23.95, and YRC Worldwide dropped 76 cents, or 4.1 percent, to $17.90.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Industries
Shares of BioMarin Pharmaceutical Inc. rose Friday after Citi upgraded the stock based on the sales potential for its three approved treatments, its earl...
Shares of Borders Group Inc. plunged Friday after its top competitor reported disappointing third-quarter results, setting a dark stage for Borders to re...
Shares of Healthcare Services Group Inc. moved up Friday after a William Blair & Co. analyst upgraded the stock, saying the company is in a good financia...

Advertisement
Buy Foreclosures & Use Our Money

Split Big Profits! You Find it & We Fund it! Co-Own Or Cash Out! Get Free Info Kit Now!

Reach emerging Latin American markets!

Baldwin Linguas:
Translations Interpreting Localization:
English French Portuguese Spanish

Los angeles web design

Get your next web design project done with our los angeles web design team - Best web design with great price.

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives