YRC stock up on earnings affirmation

Shares of YRC Worldwide Inc. rallied this after the trucking company reaffirmed its second-quarter profit outlook. Shares were up 92 cents, or 5.5 percent, to $17.69 at mid-day. They had been up nearly 9 percent earlier. YRC, based in Overland Park, said Tuesday that, excluding certain one-time items, it still expected profit of 30 to 40 cents per share. That’s above the 29 cents per share that analysts polled by Thomson Financial expected, on average, for the period. Wachovia Capital Markets analyst Justin B. Yagerman kept an “Underperform” rating on shares and encouraged investors to take profits on any stock rally stemming from the guidance news. “Although YRC appears on-track to hit its second-quarter guidance, we remain cautious given the challenging freight environment, an ongoing network realignment and high operating... [read full story]