Con-way Falls On Downgrade Over Demand Worries

NEW YORK (AP) — Shares of Con-way Inc. fell Monday after an analyst downgraded the stock, warning that falling shipments and lower prices forced by stiff competition will continue to hurt the already suffering trucker.

The stock dropped $1.72, or 7.6 percent, to $20.86 in afternoon trading. Shares have fallen as low as $12.99 in the past year.

Credit Suisse analyst Christopher J. Ceraso cut shares of the San Mateo, Calif.-based company to "Underperform," noting the stock has gotten too expensive to warrant his previous "Neutral" rating. Con-way shares have accelerated 40 percent since early March, despite worsening demand and a poor first-quarter performance. ...