YRC Worldwide fell Tuesday after reporting an "accelerated" decline in shipping volume in the first quarter.
YRC dropped $1.38 to close at $4.07, after sliding to $3.86 earlier in the day. The intraday dip was YRC's biggest slide since early October.
Nationwide cargo volume declined 29 percent in the first quasrter from a year earlier because of the weak economy and the company's plans to reduce costs, according to a presentation prepared by YRC's chief financial officer Timothy Wicks at an analyst meeting. The presentation was filed with the Securities and Exchange Commission.
Meanwhile, Wall Street suffered a second consecutive down day Tuesday.
The selling hit a wide range of industries, from financials to energy, in an otherwise quiet day during a holiday-shortened week. The markets are closed Friday in observance of Good Friday.
Analysts attributed the pullback to profit-taking after a huge advance in March that gave the Dow its best four-week performance in more than 75 years.
According to preliminary calculations, the Dow Jones industrial average lost 186.29 points, or 2.34 percent, to 7.789.56.
The Standard & Poor’s 500 index fell 19.93 points, or 2.39 percent, to 815.55
The Nasdaq composite index ended the day down 45.10 points, or 2.81 percent, to 1,561.61.
An early reading of the KansasCity.com index of 145 regional companies showed a decline of 13.49 points, or 2.60 percent, at 505.69.
Among Kansas City area companies of interest:
I Cerner Corp. closed at $41.88, down $1.04.
I Commerce Bancshares Inc. closed at $36.31, down $1.59.
I DST Systems Inc. closed at $35.25, down 89 cents.
I Embarq Corp. closed at $37.79, down 32 cents.
I Garmin Ltd. closed at $$21.27, down 85 cents.
I Great Plains Energy closed at $13.56, down 6 cents.
I H&R Block Inc. closed at $16.65, down 63 cents.
I Kansas City Southern closed at $13.52, down 52 cents.
I Sprint Nextel Corp. closed at $4.35, down 6 cents.
I UMB Financial Corp. closed at $42.09, down $1.99.
I Waddell & Reed Financial Corp. closed at $18.48, down $1.33.
I YRC Worldwide Inc. closed at $4.07, down $1.38.
The Closing Bell is compiled from staff and wire reports by Steve Rosen. Call him at 816-234-4879 or send e-mail to srosen@kcstar.com. A recap of the day’s markets activity is available in the Business section of The Kansas City Star.
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