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Trucking And Rail Stocks React To Low Guidance From Their Peers

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Trucking And Rail Stocks React To Low Guidance From Their Peers

Werner Enterprises Inc (NASDAQ: WERN) and Canadian Pacific Railway Limited (NYSE: CP), two big names in freight, both released cuts to earnings guidance. Investors expected “sympathy moves” from other names in trucking and rail, and rightfully so.

Trucking names moving in step with Werner Tuesday:

  • Swift Transportation Company (NYSE: SWFT) - down 6.21 percent midday
  • Knight Transportation Inc (NYSE: KNX) - down 4.7 percent
  • Celadon Group Inc (NYSE: CGI) - down 10.78 percent.

Rail stocks dipping after CP’s guidance cut:

  • Union Pacific Corporation (NYSE: UNP) - down 0.37 percent midday
  • CSX Corp (NASDAQ: CSX) - down 1.15 percent
  • Norfolk Southern Corporation (NYSE: NSC) - down 0.85 percent

Interestingly, Kansas City Southern (NYSE: KSU) shares were bucking the rail trend at midday, up 0.46 percent.

Shares of Werner and Canadian Pacific were down 9.89 percent and 2.09 percent, respectively, at midday.

Posted-In: News Guidance Intraday Update Movers Best of Benzinga

 

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