Trucking company YRC Worldwide Inc. said Thursday that ratings downgrades will require the company to collateralize its real estate and revenue equipment, which it valued at $1.5 billion.
The Federal Motor Carrier Safety Administration on Tuesday maintained a regulation that allows truck drivers to stay on the road for 11 hours in a row, rather than a limit of 10.
Bill Zollars, Chairman, President and CEO of YRC Worldwide Inc. , will deliver a company presentation at the Stephens Fall Investment Conference on Wednesday, November 19, 2008, at 10:30am ET.
Shares of less-than-truckload carriers fell Wednesday amid a slide in the broader market, as a Longbow Research analyst said the market for their services continued to deteriorate last month.
Moody's Investors Service lowered its ratings for trucking company YRC Worldwide Inc. on Wednesday, citing structural weaknesses in the Overland Park, Kan., company.
YRC Worldwide clarifies impact of credit rating change Co announces the financial impact of yesterday's credit rating change from S&P. The credit rating is considered a trigger event under the
- Continues Strategic Plans to Enhance Market Position and Financial ConditionOVERLAND PARK, Kan., Nov. 20 /PRNewswire-FirstCall/ -- YRC Worldwide Inc.
NEW YORK (AP) - The Federal Motor Carrier Safety Administration on Tuesday maintained a regulation that allows truck drivers to stay on the road for 11 hours in a row, rather than a limit of 10.
-- YRC Worldwide continues with aggressive plans to benefit customers-- Yellow Transportation and Roadway integration progressing ahead of scheduleOVERLAND PARK, Kan., Nov. 17 /PRNewswire-FirstCall/
NEW YORK (AP) - Shares of less-than-truckload carriers fell Wednesday amid a slide in the broader market, as a Longbow Research analyst said the market for their services continued to deteriorate last month.
NEW YORK (AP) - Moody's Investors Service lowered its ratings for trucking company YRC Worldwide Inc. on Wednesday, citing structural weaknesses in the Overland Park, Kan., company.
The accompanying table presents statistics and the top 10 rated companies in the ETF Innovators ((ETFI)) Global Trucking & Logistics Index. The trucking & logistics industry has posted strong results over the past year in spite of the weak global economy and has been aided by declining fuel prices, including gains of about 50% for Marten Transport (MRTN) and nearly 10% each for Werner Enterprises (WERN) and C.H. Robinson Worldwide (CHRW).
Global panic submerses bourses, futures. Yesterday's strong close in the U.S., which saw major indices erase heavy losses and finish with modest gains, did not carry over into Asia and Europe, sending futures spiralling. Tokyo's Nikkei 225 plunged 9.6% to 7649 - its lowest close since April 2003 - as investors fretted global recession and weaker-than-expected earnings that made it clear the financial crisis has spread its wings beyond the banks. Early trading in Europe tracked Asia's losses, compounded by a surprisingly soft British GDP number (see below)...
YRC Worldwide (YRCW) is expected to report Q3 earnings after market close Thursday, October 23, with a conference call scheduled for Friday, October 24 at 9:00 am ET.
Guidance
Analysts are looking for EPS of (8c) on revenue of $2.34B. The consensus range is (15c) to 0c for EPS, and revenue range of $2.18B to $2.4B, according to First Call. The company gave Q3 guidance when it reported its Q2 earnings. YRC Worldwide was expecting Q3 EPS with items $1.05 to $1.15, the guidance includes a curtailment gain of approximately 70c per share and increased union...
Yesterday the SEC announced its intent to enforce Regulation SHO which became effective on September 7, 2004. The rule was enacted to "establish uniform locate and delivery requirements in order to address problems associated with failures to deliver, including potentially abusive “naked” short selling (i.e., selling short without having borrowed the securities to make delivery)".
There are many arguments against short sellers, but in fairness they do facilitate liquidity and bring discipline to the markets by punishing the securities of poorly managed companies. Some do not like to admit it for fear of killing the goose that...
Financials. Oil. Financials. Oil. Financials. Dollar. Oil. Anyone look at the transports (IYT) lately? Rails and truckers specifically? It’s as if fund managers have classified all stocks as financial trades or oil/dollar trades, and the media piles on and that’s all we ever hear about. Don’t the individual industries and business fundamentals matter? It doesn’t seem like it matters for a lot of sectors, but anyone look at the transports lately? Rails and truckers specifically? (Just these two because we have lost the airlines...
Legend has it that Cornelius Vanderbilt began the family fortune with a $100 loan from his mother. He used the money to launch a ferry service across New York Harbor, which eventually turned into a fleet of more than 100 steamboats that traveled as far as Central America and Europe.
After conquering the steamship business, Cornelius, now known as "The Commodore," launched into another lucrative venture into transportation stocks. He built a second fortune with investments in railroads like the infamous New York Central.
Four times a year, hedge funds & asset managers with > $100 million AUM (assets under management) are required to report to the SEC their holdings from the previous quarter. I check these 13F filings quarterly just to get a sense as to where these funds are putting their money sector wise. If you just sit down and do some simple number crunching between last quarter's 13F and this quarter's 13F, you can see exactly where these funds have been moving their money.
Please note, these 13F's should be treated as a lagging indicator simply because...
Plans to merge YRC Worldwide ' s Yellow Transportation and Roadway operations and raise money through the sale and leaseback of its terminals has not changed , YRC chairman and chief executive ...
YRC Worldwide Inc . will take a $7 million to $10 million charge in the fourth quarter and first quarter for fees to collateralize its remaining unencumbered assets after Standard & Poor ' s ...
YRC Worldwide was forced to place its trucking equipment and real estate holdings valued at $1.5 billion up as collateral against its bank loans as a result of its recent credit downgrade.Standard ...
The hard road to recovery for YRC Worldwide Inc . took another troubling turn as the company put up about $1.5 billion in assets as collateral following a debt - rating downgrade.After Standard ...
Standard & Poor's downgraded its ratings on YRC Worldwide to " B " from " BB " due to the credit rating agency's latest assessment of the carriers ' financial and operating prospects over the ...
YRC Worldwide Inc . will take a $7 million to $10 million charge in the fourth quarter and first quarter for fees to collateralize its remaining unencumbered assets after Standard & Poor ' s ...
YRC Worldwide Inc . will take a $7 million to $10 million charge in the fourth quarter and first quarter for fees to collateralize its remaining unencumbered assets after Standard & Poor ' s ...
YRC Worldwide Inc . will take a $7 million to $10 million charge in the fourth quarter and first quarter for fees to collateralize its remaining unencumbered assets after Standard & Poor ' s ...
AP , 11.20 . 08 , 10 : 51 AM ESTTrucking company YRC Worldwide Inc . said Thursday that ratings downgrades will require the company to collateralize its real estate and revenue equipment , which ...
By AP | 20 Nov 2008 | 10 : 51 AM ETOVERLAND PARK , Kan . - Trucking company YRC Worldwide Inc . said Thursday that ratings downgrades will require the company to collateralize its real estate ...
Oil prices are soaring. Consumers are wary. And yet, "perhaps the most sensitive index to economic trends is actually showing a nice double digit gain" says Chuck Carlson, the CEO of Horizon Investment Services. "Markets look forward, and the strength of the Dow Jones Transportation Average amidst what should be significant headwinds I think portends well for the economy and corporate profits 6-9 months down the road," Carlson says.
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