Transportation Sector Wrap

Published May 08, 2012

| FOXBusiness

During trading today, the Transportation sector (IYT) showed little change while the S&P 500 fell 0.4%.

The ETF, as a as a proxy for sector performance, was down today, but still tracked closer to the overall market than over the past week. Going into trading today, IYT was down 0.7% over the last seven trading days while the S&P 500 was down 3%.

Quality Distribution (QLTY) was a significant gainer in the sector, rising 13%. The stock closed at $12.19 with 668,031 shares moving. The stock traded in a range of $10.99 to $12.24. Over the last month, the share price has dropped $1.24 (-9.2%) from $13.43 on April 9, 2012. Air Transport Services Group (ATSG) was another big mover, climbing 31 cents (+6%) to a closing price of $5.46.

Sino-Global Shipping America (SINO) was a major loser in the sector. Its price dropped 11% (-33 cents) to close at $2.66, as 66,220 shares moved. The stock traded in a range of $2.65 to $2.97.

China Eastern Airlines (CEA) declined 3.4% to close at $17.10, moving below its 50-day moving average of $16.42 and 200-day moving average of $18.00.

Canadian National Railway (HOS) fell 2.7% to close at $82.30, moving closer to its 50-day moving average of $81.08. Also, the stock moved closer to its 200-day moving average of $36.43. Nordic American Tanker Shipping (NAT) rose 3.5% to close at $13.77, approaching its 50-day moving average of $14.39. It has also moved closer to its 200-day moving average of $14.15.

Arkansas Best Corporation (ABFS) hit a new 52-week low today, hitting $14.17 to fall below the previous low of $14.22.

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