Today's Research Reports on Stocks to Watch: Celadon Group, Inc. and YRC Worldwide Inc.
NEW YORK, NY / ACCESSWIRE / July 17, 2017 / Celadon Group saw shares explode on Friday after announcing that Paul C. Svindland would be hired to lead the company in a turnaround. Svindland has helped numerous trucking companies which left traders encouraged by the news. YRC Worldwide also saw a slight jump in share price despite any news. Earlier last week, the company revealed in a SEC filing its expectations for Q2 and the year.
RDI Initiates Coverage on:
Celadon Group, Inc.
https://ub.rdinvesting.com/news/?ticker=CGI
YRC Worldwide Inc.
https://ub.rdinvesting.com/news/?ticker=YRCW
Celadon Group, Inc.'s shares skyrocketed on Friday with the stock closing up 38.30%. Trading volume was also substantial at around 6.2 million shares traded compared to an average of around 1 million shares. The big gains came after the large U.S. trucking company announced some executive changes. Celadon announced that it would be bringing a turnaround expert with years of transportation experience on to its board to lead the company in its turnaround. Paul C. Svindland has been hired to replace CEO Paul Will, who will be stepping down later this month. Will have been CEO of the company for the last five years. Traders were enthusiastic over the announcement as Svindland has helped many trucking companies including being CEO of EZE Trucking Holdings Inc., chief operating officer at Pacer International, and managing director of AlixPartners LLP, where he was responsible for co-leading the global transportation and logistics practice. Celadon has forecast a $10 million loss in the recent quarter and is even facing the possibility of being delisted on the NYSE. Lead independent director of the company's board and chairman of the compensation committee, Michael Miller, commented, "We believe Mr. Svindland is an excellent addition to our company, especially in light of his extensive experience in helping drive operational and financial improvements at transportation companies. We believe his experience, energy, and perspective will help guide Celadon toward achieving our strategic initiatives and enhancing stockholder value."
Access RDI's Celadon Group, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=CGI
YRC Worldwide Inc.'s shares closed up 1.40% on Friday. There was no remarkable news from the company but earlier in the week, YRC did announce that it has told lenders it expects higher operating income and increased revenues for the year. YRC leaders are aiming to extend its due date on $637 million of debt with the lenders to July 2022. The current due date is February of 2019. In a SEC filing, YRC revealed expectations for the second quarter and the year. The company expects operating income to reach $150 million minimum and as high as $170 million for the year. This range would be an increase of 20.7% to 36.8% for the year compared to last year's operating income of $124.3 million. YRC is also expecting $4.8 to $5 billion in revenues for this year compared to $4.698 billion last year. For the second quarter, the company said there would be a decline in operating income with a $46 to $56 million forecast. Revenues for the period is expected between $1.2 billion and $1.3 billion, compared to $1.208 billion in the year ago quarter. Second quarter earnings will be released on August 3, 2017, at the close of the market.
Access RDI's YRC Worldwide Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=YRCW
Our Actionable Research on Celadon Group, Inc. (NYSE: CGI) and YRC Worldwide Inc. (NASDAQ: YRCW) can be downloaded free of charge at Research Driven Investing.
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