ArcBest posted excellent operating results for the third quarter, but executives failed to clarify the company’s pension liabilities, which were the subject of a controversial short seller report last month.
Some of the stocks that were getting hammered at midday recovered on the back of the broader market rebound by the close. One exception: Ryder.
There’s no particular pattern in seeing which stocks have declined significantly more than the drop in the overall S&P 500 index.
FreightWaves spoke to ArcBest officers about Off Wall Street’s research report, which they said raised concerns about off-balance sheet liabilities related to pensions.
ArcBest Corporation (NASDAQ: ARCB) recently finalized a new 5-year contract with the International Brotherhood of Teamsters. The new contract brought “major gains” for members, including vacation restoration, wage increases and health benefit preservation.
The company turned a first quarter 2017 loss into a profit this year.
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