Trucking Stocks Rebound Sharply
The Dow Jones Transportation Average rose more than 7%, gaining 297 points to close at 4,464.6, according to Yahoo Finance figures. The larger Dow Jones Industrial Average index gained 298.98 points, or 2.5%, to end the trading day at 12,270.17, erasing a 3% loss earlier in the day, the Associated Press reported.
Trucking company gains were led by YRC Worldwide, which soared 22.5% in trading Wednesday, with its stock rising $3.44 to close at $18.72 per share. YRC is ranked No. 4 on the Transport Topics 100 listing of for-hire carriers.
Other companies that gained included:
• UPS Inc., ranked No. 1 on the TT 100, which rose $4.09 to $71.63 a share, a 6.1% increase.
• FedEx Corp., ranked No. 2 on the TT 100, which jumped $4.82 to $88.99 a share, a 5.7% increase.
• Ryder System, No. 5, rose $3.71 to $49.81 a share, an 8.1% increase.
• Con-way Inc., No. 6, rose $3.36 to $45.06 a share, an 8.1% increase.
• J.B. Hunt Transport Services, No. 9, rose $2.23 to $27.94 a share, an 8.7% increase.
• Landstar System, No. 12, rose $3.45 to $43.71 a share, and 8.6% increase.
• Werner Enterprises, No. 14, rose $2.03 to $19.03 a share, an 11.9% increase.
• Pacer International, No. 15, rose $1.58 to $15.50 a share, an 11.4% increase.
• Arkansas Best Corp., No. 16, rose $3.38 to $24.13 a share, a 16.3% increase.
• Old Dominion Freight Line, No. 20, rose $2.97 to $24.82 a share, a 13.6% increase.
