Arkansas Best Falls 7% After JP Morgan Lowers Estimates

JP Morgan released a research note on shares of Arkansas Best

on Monday morning, sharply lowering the company's EPS estimates. Arkansas Best released its quarterly earnings report on Friday, April 27, and badly missed analysts' estimates. In the wake of the poor quarter and weak guidance, JP Morgan updated its earnings estimates for the company. The firm has slashed its 2012 EPS estimate for ABFS from $1.10 to $0.25 and its 2013 EPS estimate from $1.90 to $1.25. Traders and investors are reacting to the move from JP Morgan by selling off shares of ABFS. At last check, the stock had lost roughly 7% to $15.15 and was trending down on an intra-day basis. Arkansas Best Corporations a holding company engaged through its subsidiaries primarily in motor carrier freight transportation.