Business

Transportation software firm Xata Corp. said it lost $402,000, or 23 cents per share, in its fiscal second quarter, compared with a profit of $91,000, or 5 cents, a year ago.

Oil dropped $2.77 Wednesday to close the day at a seven-week low on concerns about Greece’s financial crisis and the U.S. crude inventory, Bloomberg said.

Transportation and third-party logistics firm Pacer International said it lost $500,000, or 1 cent per share, compared with a $177.4 million loss, or $5.1, a year earlier.

Tank and bulk carrier Patriot Transportation Holding’s fiscal second-quarter net income improved slightly to $1.44 million, or 46 cents per share, from $1.41 million, or 46 cents, a year ago.

The U.S. economy’s service sector grew in April for the fourth consecutive month, the Institute for Supply Management said Monday.

Trailer manufacturer Wabash National Corp. said its first-quarter loss widened but its operating loss declined from the same quarter last year.

Refrigerated carrier Frozen Food Express Industries narrowed its loss to $3.7 million, or 22 cents a share, in the first quarter, compared with a loss of $6.1 million, or 36 cents, a year ago.

Wabco Holdings said Wednesday it earned a profit of $30.7 million, or 47 cents a share in the first quarter, compared with a loss of $36.4 million, or 57 cents, a year ago.

The Federal Motor Carrier Safety Administration issued a waiver from its hours-of-service rules for trucks hauling supplies being used in the cleanup of the massive oil spill in the Gulf of Mexico.

Navistar International Corp. said it has resolved its lawsuit against the U.S. Environmental Protection Agency over the types of technology to be used in new diesel engines.