Airborne Stock Falls 26% on Forecast
- Share via
Bloomberg News
Airborne Inc. said it may report a second-quarter loss instead of the profit analysts expected as fuel costs rose and customers used cheaper shipping options.
The news sent its stock down $4.81, or 26%, to $13.58 on the NYSE.
The third-largest U.S. air-freight company said it expects to report second-quarter results this month ranging from a profit of 4 cents a share to a loss of 4 cents. The average forecast in a Thomson First Call analyst survey was 13 cents.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
