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Ryder System Shares Plunge On Lowered Outlook

Stock quotes in this article: R  

NEW YORK (AP) — Shares of Ryder System Inc. plunged Wednesday after the truck leasing and logistics company cut its first-quarter earnings prediction, blaming broader economic conditions that are cutting into demand.

The stock fell $5.45, or 18.4 percent, to $24.11 in afternoon trading. Shares have ranged between $19 and $76.64 in the past year.

Ryder now expects a profit of 10 cents to 12 cents per share in the first quarter, including about 12 cents per share of restructuring costs. Excluding those one-time charges, it predicts a profit of 22 cents to 24 cents per share. ...

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