Ryder System Shares Fall On Downgrade

Last month, Ryder said its first-quarter earnings plunged 88 percent as its fleet-management business was hit by slowing commercial rental and used vehicle sales.

The company predicted that business will be weak through the end of this year, and suspended earnings projections citing economic uncertainty.

Larkin said investors should pick up the shares again after they fall below $25.

In afternoon trading, the stock lost $2.57, or 8.6 percent, to $27.37. It has traded as low as $19 and as high as $76.64 in the past year.