YRC Worldwide Reaches Deal with Teamsters Thursday, July 9, 3:16 PM ET
Shares of YRC Worldwide (YRCW) almost doubled this morning after announcing they had reached a tentative deal with the Teamsters Union. The revised contract would preserve union jobs, but address the company's immediate need for cash. Details of the deal have not been announced, as the deal has yet to be announced to members yet.
YRC Worldwide is not out of the woods yet, as competition from UPS (NYSE:UPS) and Fedex (NYSE:FDX) has been fierce since the rumors of bankruptcy emerged.
Shares of YRC climbed more than eighty five percent in morning trading.
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