Closing Bell

YRC remains in the fast lane with another 41 percent gain

Updated: 2013-05-06T21:33:08Z

Shares in YRC Worldwide appear to be making up for lost time.

For the second consecutive trading day, shares in the Overland Park-based trucking giant climbed more than 41 percent. YRC shares closed Monday at $15.44, up $4.49.

The stock has taken off since the trucking company on Thursday reported strong operating income in the first quarter.

Inergy L.P., which agreed to a buyout from a Houston gas pipeline compnay, closed at $23.75, up 6.5 percent.

Other winners included Waddell & Reed, UMB Financial and Commerce Bancshares.

Indeed, Monday was a good day for bankinig stocks in the market.

Bank of America led a rally in big-bank stocks in mostly quiet trading on Monday. Stock indexes ended little changed following a record-setting run last week.

News that Bank of America and MBIA, a bond-insurance company, had reached a settlement over a long-running dispute propelled both companies' stocks up. BofA will pay $1.7 billion to MBIA and extend the troubled company a credit line.

MBIA soared 45 percent, or $4.46, to $14.29. Bank of America gained 5 percent, or 64 cents, to $12.88, making it the leading company in the Dow Jones industrial average.

The Dow slipped 5.07 points to close at 14,968.89. The Standard & Poor's 500 index crept up 3.08 points to 1,617.50, a gain of 0.2 percent.

Six of the 10 industry groups in the S&P 500 rose, with financial companies in the lead.

No major economic reports came out Monday, but a handful of companies reported their quarterly results. Tyson Foods, the nation's largest meat-processing company, fell 3 percent, the biggest drop in the Standard & Poor's 500 index, after saying its net income sank as costs for chicken feed rose. Tyson's stock lost 83 cents to $24.10.

Companies have reported solid quarterly profits so far this earnings season. Seven of every 10 big companies in the S&P 500 have beat the earnings estimates of financial analysts, according to S&P Capital IQ. But revenue has looked weak: six of 10 have missed revenue forecasts.

“Yet again, corporations continue to do more with less,” said Dan Veru, the chief investment officer of Palisade Capital Management.

BATS 1000 rose 25.25 points, or 0.14 percent, to close at 18,224.14.

Regional stocks

Capitol Federal Financial rose 5 cents, or 0.42%, to close at $11.88.

Cerner Corp. fell $1.08, or 1.12%, to close at $95.59.

Commerce Bancshares Inc. rose 37 cents, or 0.93%, to close at $40.36.

Compass Minerals rose 26 cents, or 0.30%, to close at $87.09.

DST Systems Inc. fell 24 cents, or 0.35%, to close at $69.12.

Ferrellgas Partners L.P. rose 14 cents, or 0.70%, to close at $20.09.

Garmin Ltd. rose 47 cents, or 1.35%, to close at $35.28.

Great Plains Energy fell 20 cents, or 0.84%, to close at $23.75.

H&R Block Inc. fell 16 cents, or 0.56%, to close at $28.46.

Inergy L.P. rose $1.45, or 6.50%, to close at $23.75.

Kansas City Life Insurance Co. fell 2 cents, or 0.05%, to close at $36.55.

Kansas City Southern fell 92 cents, or 0.84%, to close at $109.23.

Layne Christensen Co. fell 6 cents, or 0.29%, to close at $20.40.

O'Reilly Automotive Inc. rose 38 cents, or 0.35%, to close at $110.27.

Sprint Nextel Corp. rose 5 cents, or 0.70%, to close at $7.20.

UMB Financial Corp. rose 74 cents, or 1.48%, to close at $50.78.

Waddell & Reed Financial Corp. rose 39 cents, or 0.90%, to close at $43.65.

YRC Worldwide Inc. rose $4.49, or 41.00%, to close at $15.44.

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