Transportation Sector Review: Moscow Meeting For EU Airline Levies, UPS Rejected by TNT Express

February 18, 2012

FreightCar America, Inc. (NASDAQ:RAIL): Reports Q4 revenue $187.1M vs. consensus $126.83M. Results may not be comparable to consensus. FreightCar reported EPS (29c) on revenue $51M in the year-ago period. The Company delivered 2,489 railcars to customers in the fourth quarter of 2011, of which 2,153 were new cars, 62 were used cars and 274 were leased cars.

The shares closed at $25.33, up $4.03, or 18.92%, on the day. Its market capitalization is $302.80 million.

Ship Finance Intl. Ltd. (NYSE:SFL): Reports Q4 GAAP operating revenue $76.1M, consensus $106.35M. The $76.1M result excludes $129.9M of revenues classified as ‘repayment of investments in finance lease’, and also excludes $93.7M of charter revenues earned by assets classified as ‘investment in associate’.

The shares closed at $13.05, up $0.65, or 5.24%, on the day. Its market capitalization is $1.03 billion.

China Eastern Airlines (NYSE:CEA): Representatives from over 25 countries will meet in Moscow next week to discuss their options regarding the European Union’s levies on airline emissions, reports the Wall Street Journal.

The shares closed at $19.37, down $0.51, or 2.57%, on the day. Its market capitalization is $4.37 billion.

United Parcel Service (NYSE:UPS): Shares of United Parcel Service (NYSE:UPS) moved to their lows of the day after TNT Express (TNTEY), a European provider of express services to businesses and consumers, rejected an unsolicited buyout offer of EUR 9 per share. TNT Express said it has informed UPS of its rejection, but the companies continue to be in discussions, which UPS then confirmed. Shares of UPS retreated following TNT’s announcement, down $1.01, or 1.32%, to $75.75 in afternoon trading. Also lower are shares of FedEx (NYSE:FDX), down $1.51, or $1.59%, to $93.49.

The shares closed at $76.76, on the day. Its market capitalization is $74.07 billion.

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