Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of YRC Worldwide (NASDAQ: YRCW ) fell as much as 17% today after an analyst downgraded the company.
So what: Credit Suisse initiated coverage on the company with an underperform rating and a $7 price target. What's unusual is the massive downside priced into the call, something analysts aren't usually inclined to do.
Now what: Earnings are due out Thursday, and that's when we'll know more about where the company is headed. The big questions surround how fast or slow a turnaround effort is going. Everyone expects a loss this quarter and even for the rest of 2013, but when does management expect a profit? That's what will determine whether the bulls or bears will win.
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