Dismal results from Ryder System Inc. (R) to drag down the stock
Symbols: R
Ryder System Inc. (NYSE: R) said on Thursday that its third-quarter net income sank 66% from a year ago as commercial truck rentals and used vehicles sales fell.
Net income for Ryder System Inc. (R) was $24 million or 43 cents per share. Pension costs cut company's earnings by 19 cents a share.
The R stock, which has already lost significant ground on Thursday following its poor show, is likely to slip further from $44.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
