Market Currents

• Thursday, December 31, 2009

• 09:11 AM YRC Worldwide (YRCW) buzzards are down on the news of its survival. CNW -6.5%. ODFL -6.5%. ABFS -4.2%. JBHT -2%. Comment!
• 09:09 AM After numerous extensions, YRC Worldwide (YRCW) says it finally got enough support to complete its debt-for-equity swap, allowing the trucking company to defer payments coming due. CEO Bill Zollars called the results "a major turning point" and said, "With our significantly restructured balance sheet and enhanced liquidity, we will move forward from a more solid financial foundation." Shares +8% premarket. Comment!

• Wednesday, December 30, 2009

• 12:42 PM Troubled trucker YRC Worldwide (YRCW) rallied more than 8% Tuesday as it extended a debt-for-equity exchange offer to midnight last night. With 84% tendered, the company has extended again, to midnight tonight, but the constant new deadlines (this is the sixth) may be losing impact: Shares are down 2.9% today and the firm could shut its doors this weekend. Comment!

• Tuesday, December 29, 2009

• 11:10 AM YRC Worldwide (YRCW +6.3%), America's biggest trucker, once again extends its debt-for-equity exchange offer, until midnight EST tonight - the fifth such deadline in the past few weeks. The struggling company says 81% of its notes have been tendered, still short of its target. (previously) Comment!

• Tuesday, December 22, 2009

• 08:51 AM YRC Worldwide (YRCW) says lenders approved amendments to its debt-for-equity exchange, lowering the threshold and allowing it to move ahead with a move that could keep the trucker out of bankruptcy court. Shares +19% premarket to $1.06. 3 Comments

• Thursday, December 17, 2009

• 10:14 AM Goldman Sachs' (GS) newest critic: Jimmy Hoffa. The Teamsters chief says Goldman is actively soliciting trades for clients to help them benefit from a collapse of YRC Worldwide (YRCW), America's biggest trucker. 3 Comments

• Wednesday, December 9, 2009

• 08:27 AM YRC Worldwide (YRCW) says 72% of its noteholders have tendered their notes in the company's debt-for-equity exchange offers to date, still short of the minimum, but an "encouraging response." YRC noteholders could control of 95% of the company's common stock if they tender all outstanding notes. YRCW +8% premarket. Comment!

• Tuesday, December 8, 2009

• 10:27 AM YRC Worldwide (YRCW) -7.9% on news it will be deleted from Dow Jones' Transportation Index come Friday. Dow Jones notes that a potential debt-for-equity swap would give YRC noteholders control of 95% of the company's common stock, and would likely force a bankruptcy filing. YRC to be replaced by Delta Air Lines (DAL -0.1%). Comment!

• Friday, October 30, 2009

• 09:27 AM YRC Worldwide (YRCW): Q3 EPS of -$2.68 misses by $0.98. Revenue of $1.31B (-45.1%) vs. $1.36B. Says shipment trends have dramatically stabilized as compared to the trends from H1. Shares -3.9% premarket. (PR) Comment!
• 09:00 AM Premarket gainers: GNW +13%.% RVSN +11%. EL +8%. LVS +8%. VVUS +8%. AIXG +7%. YRCW +5%. MGM +5%. CMI +4%. SHPGY +4%.
  Losers: NVTL -19%. SMP -12%. ALU -8%. MTW -7%. CIT -6%. CBEH -7%. Comment!
• 00:05 AM Notable pre-market earnings: ACI, AEE, AIV, ALU, AOC, AXL, CEG, CMC, CMI, CMS, CVH, CVX, D, DUK, EL, ITT, NI, NYX, PAG, PGN, REG, SHPGY, SNE, SPG, THI, UPL, WY, YRCW Comment!

• Thursday, September 10, 2009

• 09:00 AM Premarket gainers: DVAX +82%. RNWK +14%. SWHC +14%. UAUA +13%. VICL +10%. LCC +9%. OCNF +7%. RFMD +6%. BX +5%. YRCW +5%. SWKS +5%. AMR +5%. DAL +4%. AIB +4%. YHOO +4%. ALU +4%.
  Losers: MON -8%. NAV -7%. Comment!

• Tuesday, September 1, 2009

• 09:00 AM Premarket gainers: NVAX +14%. YRCW +13%. SVA +10%. BONU +9%. BEXP +7%. TXT +6%. HLCS +5%. ALD +5%. GNBT +4%. INO +4%.
  Losers: BEAT -12%. CMED +12%. RMBS -10%. SQNM -9%. IMMU -6%. AXL -6%. CTIC -5%. AIG -5%. CIT -5%. HCN -5%. BVF -4%. Comment!

• Monday, August 31, 2009

• 09:00 AM Premarket gainers: SVA +12%. BJS +11%. KFN +10%. PACR +7%. HEB +5%. ETFC +4%.
  Losers: IRE -12%. AIG -9%. AIB -8%. PNX -8%. ABK -8%. FRE -7%. CIT -7%. FNM -6%. YRCW -5%. JASO -4%. CHU -4%. BHI -4%. Comment!

• Wednesday, August 19, 2009

• 09:00 AM Premarket gainers: LZB +13%. PRX +4%.
  Losers: YGE -10%. RTK -6%. AXL -5%. YRCW -4%. FNM -4%. DE -5%. HL -4%. AA -4%. STP -4%. ABK -4%. LVS -4%. AIB -4%. SOLF -4%. Comment!

• Monday, August 17, 2009

• 09:00 AM Premarket gainers: ARIA +7%.
  Losers: IDCC -27%. RST -16%. RAS -13%. LOW -10%. ABK -10%. AXL -10%. TGB -10%. AIB -9%. FRE -9%. FNM -9%. BZH -8%. RTP -8%. YRCW -7%. CENX -7%. HL -6%. LVS -7%. NXG -7%. TCK -7%. GNW -7%. CPST -6%. FIG -6%. HD -6%. YGE -6%. HIG -6%. BCS -6%. RF -6%. LYG -6%. FCX -5%. SOL -5%. AIG -5%. MT -5%. NVAX -5%. ETFC -5%. AEG -5%. FITB -5%. HBAN -5%. ESLR -5%. RTK -5%. X -5%. CNO -5%. CS -5%. Comment!