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Compared with the prior-year period, April truck tonnagea fell 13.2 percent, the largest drop in 13 years, the ATA “While most key economic indicators are decreasingh at aslower rate, the year-over-year contractions in trucj tonnage accelerated because businesses are right-sizing theit inventories, which means fewer truck shipments,” ATA Chief Economis Bob Costello said in the release. “The absolute dollar value of inventories has but sales have decreased as muchor more, which meanxs that inventories are still too high for the current levepl of sales.
Until this correction is complete, freighty will be tough for motor His prediction that the botto may not come for a few more months bodexs poorly for companies such asOverlanfd Park-based YRC (Nasdaq: which lost $257.4 million in the firstg quarter and has been laying off workers and sellingg property. Many trucking companies have closed their doors in a freight recession that has lasted more than two Longbow Research analyst Lee Klaskow recently hostedc a conference callwith Costello, who said trucking will not be a leadingt economic indicator as in the past but may be a lagginfg indicator this time, according to a Thursday “If the trucking industry is in fact not an early-cycle sector this time around, then the marketf has gotten ahead of itself and truckinvg stocks should be due for a in our view,” Klaskow wrote.
Around 2:30 p.m. YRC shares were trading at $2.53, down abouty 2 percent. A year ago, YRC sharesa closed at $16.31. YRC ranks No. 2 on the Kansasa City BusinessJournal ’s list of area public companies.
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