surged in late trading Monday after the freight company raised its forecast for second-quarter earnings.
Overland Park, Kan.,-based Yellow expects to earn 85 cents to 90 cents a share in the period, up from previous guidance of 70 cents to 75 cents a share. Analysts surveyed by Thomson First Call were forecasting earnings of 74 cents a share on sales of $1.62 billion in the quarter.
"All our business units continue to perform very well," the company said. "The improvement in our second quarter earnings outlook is being driven by excellent execution along with favorable economic conditions."
The stock was recently up $1.98, or 5.3%, to $39.68 on the Instinet late session.