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Why Shares of Wabtec Are Down Today

TheMotleyFool

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Why Shares of Wabtec Are Down TodayPhoto, wide shot, wide-angle lens, Construction equipment, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/96af5505-e3c8-4496-bbb7-e4a5eba91e77.png

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.

Image source: Getty Images.

Source Fool.com

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