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ShareThisYRC Worldwide Stock on a Wild Ride
Rapid drop below $1 a share reversed in wake of labor agreement
YRC Worldwide’s stock rose 60 cents to $1.49 a share July 9 on news that the financially strapped trucking enterprise reached a tentative agreement on cost cuts with the Teamsters union.
The share value of the largest U.S. industrial trucking company plummeted to 89 cents from $1.24 a share July 8 after a Wall Street analyst said it was unlikely to reach an agreement on concessions with the union and may be forced into bankruptcy.
After the agreement was announced, the stock hit $1.49 by the close on July 9. It fell about 10 cents to $1.39 per share by noon July 10.
Contact William B. Cassidy at wcassidy@joc.com.
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Feb 12, 2012 4:11PM GMT
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