Jun 22, 2016 at 10:24 AM CST
That pushed the Dow Jones Transportation Average DJT, -0.15% into negative territory in morning trade, while the broader stock market indexes edged higher. The weakness in the transport sector may have also spooked investors in FedEx Corp. FDX, -3.71% as the stock slumped 0.4% ahead of the package delivery company’s fiscal fourth-quarter results due out after the closing bell.
Werner’s stock WERN, -0.85% tumbled 8.3% toward a five-month low in morning trade. The trucking company said ahead of the open that it expects second-quarter earnings per share of 21 cents to 25 cents, including gains on the sale of real-estate assets. As of May 31, the average analyst EPS estimate compiled by FactSet was 40 cents.
Canadian Pacific shares CP, +3.07% slumped 2.1%, and hit a 3 1/2-month low in intraday trade, after the railroad company said second-quarter adjusted EPS could fall around 18% from a year ago, while the FactSet consensus called for a slight increase.