Updated from 2:36 p.m. EDT

The transportation industry was enjoying a strong session Wednesday as several trucking and airline stocks were rallying on good news regarding inventory and an economic recovery.

Shares of

YRC Worldwide

(YRCW) - Get Report

jumped 44.5% after the company said that low business inventories will result in a boon for trucking names once the economy recovers. "There is no inventory anywhere," CEO Phil Zollars said during an analyst conference, according to

The Wall Street Journal


Among other transportation stocks rallying Wednesday were



, up 9%,

Old Dominion Freight Line

(ODFL) - Get Report

, which gaining 7.5%, and

J.B. Hunt Transport Services

(JBHT) - Get Report

, higher by 6.1%.

Several airline companies were also enjoying a sharp rally, including several that found their way onto

Moody's Investment Services' The Bottom Rung

list as being in risk of default.


( UAUA) was higher by 13.3%,

JetBlue Airways

(JBLU) - Get Report

was rising 11.3% and



was up 3.8%.

Not all transportation stocks were participating in the move higher. Among the laggards,

Universal Truckload Services


was dropping 8.4%,

Quality Distribution


was down 14.5% and


(DDMX) - Get Report

slipped 5.7%.