Con-way skids on lowered guidance and analyst downgrade
Shares of Con-way Inc. (NYSE: CNW) have slipped 14% this morning after the trucking company lowered its 2008 full-year earnings guidance on account of weakened demand due to adverse macroeconomic forces.
Additionally, Stifel Nicolaus analyst David Ross downgraded the company to “hold” from “buy” after Con-way lowered its guidance.
Shares slumped 14%, or 5.92%, to $37.02 a half hour into the session. For detailed price information and news stories on Con-way, click CNW.
