Arkansas Best downgraded to Hold from Buy at Stifel Nicolaus Stifel Nicolaus downgraded Arkansas Best based on valuation and what the firm sees as the company's poor Q4 results. The firm, however, believes that concessions in a new labor contract could significantly boost the company's outlook but it's unsure if or when this will occur.
News For ABFS From The Last 14 Days
Check below for free stories on ABFS the last two weeks.
Arkansas Best announces changes to nonunion pension plan Arkansas Best announced that it has adopted changes to its nonunion defined benefit pension plan. Effective July 1, the plan will be frozen with the result that the accrual of future benefits under the plan will stop. Retirement benefits earned by participants through June 30 will be preserved. While the precise amount of net savings resulting from the changes to the plan and participation in the discretionary defined contribution plan cannot be determined at this time, the company expects that the reduction in this expense will be material going forward.
Arkansas Best calls active on acquisition interest from YRC Worldwide Arkansas Best (ABFS) June 17 and 20 calls are active on total call volume of 15,377 contracts (114 puts) on acquisition interest from YRC Worldwide (YRCW). June call option implied volatility is at 57, September is at 53; compared to its 26-week average of 54 according to Track Data. Active call volume suggests spreaders taking positions for upside movement.
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