Why Shares of Wabtec Fell Today
Shares of Westinghouse Air Brake Technologies (NYSE: WAB), or Wabtec, closed down 18.2% on Wednesday, on growing fears the economy is headed toward a recession. If so, the company's railroad customers have tough times ahead, and that is likely to trickle down to their suppliers.
It was already shaping up to be a year of transition for Wabtec, which last year acquired the locomotive business of General Electric to increase its size and scale, while also taking on a challenging integration. Trends in the railroad business, including a push by major operators to move more freight with fewer locomotives, were also weighing on investors heading into 2020.
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Source Fool.com
