Published August 27, 2012
During trading today, both the Transportation sector (IYT) and the S&P500 showed little movement.
As a proxy for the sector, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, IYT was down 1.2% over the last thirty trading days while the S&P 500 climbed 2.1%.
Covenant Transportation Group (CVTI) was a major loser in the sector. Its price dropped 11.1% (-65 cents) to close at $5.23, as 94,612 shares moved. The stock traded between $5.10 and $5.88.
Frozen Food Express Industries (FFEX) was a significant gainer in the sector, rising 10.4%. The stock closed at $2.13 with 354,961 shares moving. The stock traded in a range of $1.90 to $2.15.
Expeditors Intl (EXPD) declined 1.8% to close at $37.03, moving below its 50-day moving average of $37.15 and 200-day moving average of $40.00.
Air Transport Services Group (ATSG) rose 2.4% to close at $4.74, approaching its 50-day moving average of $4.84. It has also moved closer to its 200-day moving average of $5.19. Westinghouse Air Brake Technologies (UHAL) fell 1.7% to close at $78.64, moving closer to its 50-day moving average of $78.54. Also, the stock moved closer to its 200-day moving average of $94.94.
Arkansas Best Corporation (ABFS) hit a new 52-week low today, hitting $9.32 to fall below the previous low of $9.69.