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FreightCar America Misses Its Train
FreightCar America(RAIL Quote) is getting clobbered today after missing Wall Street earnings expectations. Sales fell more than 27 percent in the quarter to $141.3 million. The railcar company is getting squeezed on sharp material-cost increases on some of its fixed price contracts.
The big negative for the company is a reduction in orders for new railcars, which totaled 1,436 units in the last quarter. Previously, the company had received orders of 2,396 units in the first quarter of 2008, and 2,262 units in the second quarter of 2007. ...
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