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Shares of trucking firm YRC Worldwide (YRCW) closed down 7 cents today, or 22%, at 25 cents after the company said yesterday it reached an agreement with the International Brotherhood of Teamsters on a range of terms affecting pensions, health and wages, and said it would do a reverse stock split.
The announcements seem to have generated plenty of skepticism:
............J Douglas Woodrich with Longbow Research reiterated a “Neutral” rating .........
.............Jason Seidl with Dahlman Rose & Co. keeps his “Hold” rating............
..........There was one rating change today, by Stifel Nicolaus’s David Ross, who cut the stock from “Hold” to “Strong Sell.” The reverse split will “significantly reduce liquidity and force investors to trade based on fundamentals (volume and margin outlook), which we believe are poor.”.............
YRCW: Stifel Cuts to “Sell”; Plenty of Skepticism - Stocks To Watch Today - Barrons.com
The announcements seem to have generated plenty of skepticism:
............J Douglas Woodrich with Longbow Research reiterated a “Neutral” rating .........
.............Jason Seidl with Dahlman Rose & Co. keeps his “Hold” rating............
..........There was one rating change today, by Stifel Nicolaus’s David Ross, who cut the stock from “Hold” to “Strong Sell.” The reverse split will “significantly reduce liquidity and force investors to trade based on fundamentals (volume and margin outlook), which we believe are poor.”.............
YRCW: Stifel Cuts to “Sell”; Plenty of Skepticism - Stocks To Watch Today - Barrons.com