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YRC Worldwide: Pump Up the Volume
YRC Worldwide Surges as Bankruptcy Fears Subside
YRC Worldwide shares jumped Wednesday on heavy volume as it appears the threat of bankruptcy has subsided.
YRC Worldwide was lately up 89 cents, or 20.4%, to $5.24, making it one of the biggest price gainers on the Nasdaq on Wednesday. Volume topped 16.7 million shares at 1 p.m. EDT, more than double the 50-day average daily volume of 8.3 million, according to the Nasdaq's Web site.
If Wednesday's gains hold, YRC shares will have finished higher 13 out of 16 trading sessions in September, reflecting optimism the company will not be forced to file for bankruptcy protection. Earlier this month, YRC Worldwide amended a $950 million credit agreement with lenders as part of its efforts to stave off bankruptcy.
YRC Worldwide: Pump Up the Volume | Transportation | Financial Articles & Investing News | TheStreet.com
