We just noticed over at our volume spike alert service that FedEx Corporation (NYSE: FDX) was already challenging 150% of its average volume and was triple volume what it normally has traded by this time of the morning. This was really ramping up rival United Parcel Service, Inc. (NYSE: UPS) with a 4% gain, and was taking up lesser players in the space as well. But interestingly enough, this is not doing anything to boost the trading volume in railroad stocks. Railroad giants like Union Union Pacific Corp. (NYSE: UNP) and CSX Corp. (NYSE: CSX) are even lower on the day. YRC Worldwide Inc. (NASDAQ: YRCW) is up significantly, and most truckers are up in sympathy.
Norfolk Southern Corp. (NYSE: NSC) is up 0.35% at $49.41 and Union Pacific Corp. (NYSE: UNP) is down 0.4% at $63.27. CSX Corp. (NYSE: CSX) is down 1.4% at $47.49 and Kansas City Southern (NYSE: KSU) is down 0.9% at $27.69. Burlington Northern Santa Fe Corp. (NYSE: BNI) is one of the few rail players up with a 0.9% gain to $85.36.
The truckers are tracking well today though. YRC Worldwide Inc. (NASDAQ: YRCW) is so leveraged to news in the transport space that its shares are up almost 17% at $3.56 on more than 13 million shares of stock. Other truckers are doing well too. JB Hunt Transport Services Inc. (NASDAQ: JBHT) is at $32.36, up about 5.5%; Con-way Inc. (NYSE: CNW) is at $44.09, up about 4.7%; and Landstar System Inc. (NASDAQ: LSTR) is at $38.49, up almost 3%.
JON C. OGG
September 11, 2009