If the Baltic Freight Index seems to go down every day, then why is FedEx (FDX)still going higher? If Ryder's (R) getting hammered, why isn't United Parcel Service ()? Why are the rails still higher when YRC Worldwide (YRCW) can't get out of its own way? Do you know that CSX (CSX) and Union Pacific (UNP) just had nice moves and they aren't giving them up?
Maybe all of these moves are just plain false. You simply can't get stocks to stay up if things are as bleak as the Baltic indicates. It is too predictive. ("The Salutary Effect of Destocking," 4-8-09)

Ryder CEO Greg Swienton told analysts in October that productivity and cost-cutting will offset some of the "significant increase" in pension expenses expected in 2009. According to a company spokesman, Ryder estimates 2008 pension liabilities will be $1.5 billion, slightly higher than Credit Suisse estimates. Credit Suisse expects Ryder to take an 83-cent hit to '09 earnings due to pension-related costs, six times higher than this year's likely penalty.

Cramer said that Ryder CEO Greg Swienton "said there's nothing to ship." Swienton's "an honest, candid CEO," Cramer said, "and he's a realist. He's talking about a reason why the Dow's down 400."

Outperform -- Price 61.86 on April 15
by Baird Securities
R [is to] acquire substantially all assets of Gator Leasing, a full-service leasing, commercial-truck-rental and fleet-services company... . The acquisition's likely [to be] modestly accretive. Our 68 target reflects 13 times "09 estimates... . R's ability to grow earnings through this downturn bolsters case for higher full-cycle valuation ... when the environment improves ... long-term P/E 16 times; LT Ebitda: 4.1 times. Market cap: $3.6 billion.

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9.5% , 14 , 1.4%