Beacon Equity Research announces the release of Trade Alerts covering trucking stocks: YRC Worldwide Inc. (Nasdaq: YRCW), Con-Way Inc. (NYSE: CNW), Old Dominion Freight Line Inc. (Nasdaq: ODFL), JB Hunt Transport Services Inc. (Nasdaq: JBHT), Landstar System Inc. (Nasdaq: LSTR) and Werner Enterprises Inc. (Nasdaq: WERN).
In the Trade Alert, the author highlights YRC’s integration of Yellow Transportation and Roadway:
“YRC Worldwide Inc. (YRCW) shares plummeted 14.88% this morning, hitting $2.46. YRC Worldwide provides transportation services for the shipment of industrial, commercial and retail goods in the United States and internationally. … The company recently said it has completed the integration of the national networks of two of its units. YRC recently said its Yellow Transportation and Roadway brands will now operate under the name YRC, a brand providing more than 160 combined years of experience moving big shipments. … The changes provide 21,000 additional direct service points and position YRC 20% closer to customers in major markets. It also enables quicker pickups and deliveries, increased flexibility and reduced emissions. With nearly 450 service centers, YRC offers about 100 more service centers than either Roadway or Yellow did individually.”
The Trade Alert author also featured Con-Way’s 10% cut in top management salaries and suspension of its 401(k) match to cut costs:
“Con-Way Inc. (CNW) shares slipped 2.88% to $15.48 in today’s early trading. Con-Way, together with its subsidiaries, provides transportation, logistics, and supply chain management services for a range of manufacturing, industrial and retail customers. … In an effort to save as much as $130 million this year, the company recently said it has cut salaries for its chief executive and other top management by 10% and reduced other expenses. Con-Way also suspended its 401(k) match and reduced pay for all other executives and employees by 5% at Con-way Freight and the company. Expected to be completed early in the second quarter, these changes are in addition to 2,500 layoffs, suspension of merit-based pay increases and other cuts implemented in the fourth quarter of 2008.”
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Beacon Equity Research
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