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Reuters Results diary
Stocks on the move Real-time Equity news
U.S. stock market report
1043 ET 08July2009-YRC Worldwide sinks after Morgan Keegan comments ------------------------------------------------------------------------------
Shares of YRC Worldwide sank on Wednesday, after Morgan Keegan wrote that it believed a bankruptcy at the company was "still likely in the near to mid-term."
The firm moved the stock to "not rated" from "market perform."
Morgan Keegan also cited negotiations between the company and the Teamsters union. "We believe the likelihood of a successful (approved by the Teamsters and passed through a vote of the rank-and-file Teamster employees at YRC Worldwide) conclusion to this matter is low at best," it wrote.
Shares sank 15 percent to $1.05.
Updated: http://www.reuters.com/article/marketsnews/idINBNG41729920090708?rpc=33
Reuters Results diary
Stocks on the move Real-time Equity news
U.S. stock market report
1043 ET 08July2009-YRC Worldwide sinks after Morgan Keegan comments ------------------------------------------------------------------------------
Shares of YRC Worldwide sank on Wednesday, after Morgan Keegan wrote that it believed a bankruptcy at the company was "still likely in the near to mid-term."
The firm moved the stock to "not rated" from "market perform."
Morgan Keegan also cited negotiations between the company and the Teamsters union. "We believe the likelihood of a successful (approved by the Teamsters and passed through a vote of the rank-and-file Teamster employees at YRC Worldwide) conclusion to this matter is low at best," it wrote.
Shares sank 15 percent to $1.05.
Updated: http://www.reuters.com/article/marketsnews/idINBNG41729920090708?rpc=33