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: Commercial transportation specialist Forward Air
So what: The quarterly forecast was cut sharply, down from a range of $0.47 to $0.51 a share to a range of $0.39 to $0.41, well below the average estimate of $0.49. CEO Bruce Campbell said the quarter had started off strongly but that airport-to-airport tonnage began to decrease in August. A rate increase imposed on September also failed to deliver the results he had expected.
Now what: Forward Air's announcement echoes Fed Ex's
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