Why Shares of Wabtec Are Down Today
Shares of Westinghouse Air Brake Technologies (NYSE: WAB), or Wabtec, fell more than 11% on Monday as concerns about the health of the industrial economy continued to mount. The COVID-19 coronavirus outbreak appears increasingly likely to slow global shipping, which in turn will have an impact on Wabtec's railroad customers.
Wabtec is in a period of transition, last year swallowing the locomotive business of General Electric (NYSE: GE) to increase its size and scale but 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
