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Con-way, Inc.
Type
Public
Traded as NYSE: CNW
Industry Transportation, distribution
Founded Portland, Oregon (1929)
as Consolidated Truck Lines
Headquarters Ann Arbor Charter Township, Michigan
Key people
Leland James (Founder)
Douglas W. Stotlar (President & CEO)
Products Less than truckload shipping
Full truckload freight
Warehousing
Logistics services
Supply-chain management
Revenue Increase US$ 5.5 billion (2013)
Operating income
Increase US$ 208.9 million (2013)
Net income
Increase US$ 99.2 million (2013)
Number of employees
27,900 (December 2010)
Subsidiaries Con-way Freight
Menlo Worldwide Logistics
Con-way Truckload
Website Con-way.com

Con-way, Inc. (NYSE: CNW) was an American multinational freight transportation and logistics company headquartered in Ann Arbor, Michigan, United States. With annual revenues of $5.5 billion, Con-way was the second largest less-than-truckload transport provider in North America, with additional operations for global contract logistics, managed transportation, truckload and freight brokerage. The company's services were sold through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Worldwide. These operating units provided less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way, Inc. and its subsidiaries operated from more than 500 locations across North America and in 20 countries.

On September 9, 2015, Con-way announced it was being acquired by XPO Logistics. The sale was completed on October 30, 2015.

Con-way's heritage dated from 1929, when industry pioneer Leland James founded an intercity trucking company in Portland, Oregon. Initially named Consolidated Truck Lines, the company grew from a one-truck operation into one of the largest long-haul carriers in the United States by the early 1980s, and became one of the few freight transportation firms to originate in the West and successfully expand eastward. Consolidated headquarters were moved to the San Francisco Bay Area in the 1950s.

In 1996, Consolidated's unionized long-haul trucking company, CF MotorFreight, was spun off as Consolidated Freightways, Inc., creating two separate publicly traded companies. Consolidated Freightways, Inc. was renamed CNF Transportation, Inc., reflecting the familiar stock ticker symbol of the company (CNF).

Consolidated Freightways Corporation filed for Chapter 11 bankruptcy on September 3, 2002, and ceased operations.

In 2006, the CNF Transportation changed its name to Con-way, Inc, and the company's NYSE stock ticker was changed from CNF to CNW.

In 2007, Con-way acquired Contract Freighters, Inc. (CFI), a privately held North American truckload carrier based in Joplin, Missouri, in a transaction valued at $750 million. Founded in 1951, CFI operated more than 2,600 tractors and more than 7,000 trailers, with more than 3,000 employees including approximately 2,500 drivers that serve customers throughout North America.

Con-way moved its headquarters from San Mateo, California to Ann Arbor, Michigan in 2011.

On September 9, 2015, Con-way announced it was being acquired by XPO Logistics, and the sale was completed on October 30, 2015.

Con-way, Inc. was the parent company for five wholly owned subsidiaries:

Con-way freight provided less-than-truckload service across North America.

Con-way Truckload provided full truckload shipping across the United States, Mexico and Canada.

Con-way Enterprise Services was the administrative and information technology division of Con-way, Inc., and was based in Portland, Oregon.

Menlo Worldwide Logistics designed and implemented logistics solutions across the globe.

Con-way Manufacturing, formerly Road Systems, Inc., was a trailer refurbishing and manufacturing company that supplied trailing equipment to the company’s trucking fleets.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2015-10-20 Downgrade Buckingham Research Buy to Neutral
2015-10-08 Boost Price Target Credit Suisse $40.00 to $48.00
2015-10-08 Boost Price Target Credit Suisse Group AG $40.00 to $48.00
2015-09-14 Downgrade Stifel Nicolaus Buy to Hold
2015-09-10 Reiterated Rating Deutsche Bank Hold $43.00 to $48.00
2015-09-10 Boost Price Target Susquehanna Neutral $43.00 to $48.00
2015-09-10 Downgrade Raymond James Outperform to Market Perform
2015-09-10 Reiterated Rating Deutsche Bank AG Hold $43.00 to $48.00
2015-09-10 Downgrade Raymond James Financial Inc. Outperform to Market Perform
2015-08-18 Initiated Coverage Evercore ISI Buy $44.00
2015-07-31 Reiterated Rating Credit Suisse Hold $38.00 to $40.00
2015-07-30 Reiterated Rating Cowen and Company Market Perform $45.00 to $41.00
2015-07-30 Lower Price Target Stifel Nicolaus Buy $46.00 to $45.00
2015-07-09 Reiterated Rating Citigroup Inc. Hold $45.00 to $41.00
2015-07-09 Downgrade Credit Suisse Outperform to Neutral $47.00 to $38.00
2015-05-29 Downgrade Bank of America Neutral to Underperform $46.00 to $42.00
2015-05-29 Downgrade Bank of America Corp. Neutral to Underperform $46.00 to $42.00
2015-05-09 Reiterated Rating Susquehanna Neutral $47.00 to $45.00
2015-05-09 Reiterated Rating Stifel Nicolaus Buy $53.00 to $50.00
2015-03-27 Initiated Coverage Macquarie Outperform
2015-03-26 Upgrade Stifel Nicolaus Hold to Buy $53.00
2015-02-06 Boost Price Target Deutsche Bank Hold $54.00 to $55.00
2015-01-15 Reiterated Rating Deutsche Bank Hold $47.00 to $54.00
2014-12-10 Initiated Coverage Nomura Neutral $51.00
2014-12-10 Initiated Coverage Nomura Holdings Inc. Neutral $51.00
2014-10-31 Reiterated Rating Credit Suisse Outperform $51.00 to $48.00
2014-10-31 Reiterated Rating Citigroup Inc. Neutral $51.00 to $45.00
2014-10-31 Lower Price Target Cowen and Company Market Perform $54.00 to $47.00
2014-10-14 Reiterated Rating Deutsche Bank Hold $47.00 to $45.00
2014-10-01 Reiterated Rating Citigroup Inc. Neutral $55.00 to $51.00
2014-10-01 Reiterated Rating Bank of America Neutral $56.00 to $52.00
2014-09-16 Downgrade Cowen and Company Outperform to Market Perform $57.00 to $54.00
2014-09-16 Downgrade Robert W. Baird Outperform to Neutral $55.00
2014-09-08 Boost Price Target Goldman Sachs $47.00 to $53.00
2014-09-08 Boost Price Target Goldman Sachs Group Inc. $47.00 to $53.00
2014-08-01 Boost Price Target Deutsche Bank $45.00 to $47.00
2014-07-31 Reiterated Rating Citigroup Inc. Neutral $52.00 to $55.00
2014-07-31 Reiterated Rating Bank of America Neutral $54.00 to $56.00
2014-07-11 Boost Price Target Credit Suisse $48.00 to $51.00
2014-07-11 Downgrade Citigroup Inc. Buy to Neutral $48.00 to $52.00
2014-07-08 Boost Price Target Robert W. Baird $48.00 to $54.00
2014-07-07 Boost Price Target Deutsche Bank Hold $43.00 to $45.00
2014-07-02 Boost Price Target Cowen and Company $48.00 to $53.00
2014-06-13 Upgrade Wunderlich Hold to Buy $44.00 to $57.00
2014-05-02 Boost Price Target Wunderlich Hold $40.00 to $44.00
2014-05-01 Reiterated Rating Citigroup Inc. Buy $48.00
2014-05-01 Upgrade Bank of America Underperform to Neutral
2014-04-09 Boost Price Target Robert W. Baird $47.00 to $48.00
2014-02-19 Downgrade Wunderlich Buy to Hold $49.00 to $40.00
2014-02-07 Lower Price Target Deutsche Bank $45.00 to $43.00
2014-01-17 Lower Price Target JPMorgan Chase & Co. $45.00 to $40.00
2014-01-10 Upgrade Wells Fargo & Co. Market Perform to Outperform
2014-01-10 Upgrade Wells Fargo Market Perform to Outperform
2014-01-06 Downgrade Bank of America Buy to Underperform
2013-12-16 Downgrade Deutsche Bank Buy to Hold $46.00 to $45.00
2013-11-01 Lower Price Target Deutsche Bank Buy $49.00 to $46.00
2013-11-01 Lower Price Target Credit Suisse Outperform $48.00 to $45.00
2013-11-01 Lower Price Target Cowen and Company Outperform $49.00 to $45.00
2013-11-01 Upgrade Buckingham Research Neutral to Buy
2013-08-02 Reiterated Wunderlich Buy $45 to $49
2013-05-21 Upgrade Wunderlich Hold to Buy $37 to $45
2013-05-16 Upgrade BB&T Capital Mkts Underweight to Hold
2013-05-02 Reiterated Cowen Buy $40 to $39
2013-04-10 Reiterated Deutsche Bank Buy $43 to $46
2013-03-20 Reiterated Wunderlich Hold $34 to $37
2013-03-01 Downgrade Stifel Buy to Hold
2013-02-08 Reiterated Wunderlich Hold $29 to $34
2012-12-17 Downgrade BB&T Capital Mkts Hold to Underweight
2012-10-05 Initiated Wunderlich Hold $32
2012-08-16 Initiated Longbow Neutral
2012-07-30 Upgrade Robert W. Baird Neutral to Outperform $42 to $43
2012-05-03 Reiterated Dahlman Rose Buy $35 to $41
2012-01-09 Downgrade BB&T Capital Mkts Buy to Hold
2011-11-07 Reiterated Deutsche Bank Buy $28 to $32
2015-10-20 Downgrade Buckingham Research Buy to Neutral
2015-10-08 Boost Price Target Credit Suisse $40.00 to $48.00
2015-10-08 Boost Price Target Credit Suisse Group AG $40.00 to $48.00
2015-09-14 Downgrade Stifel Nicolaus Buy to Hold
2015-09-10 Reiterated Rating Deutsche Bank Hold $43.00 to $48.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In CNW 4 funds of 2186 total. Show all

Fund name Ticker shares
MANAGED ACCOUNT ADVISORS LLC 0.20M
CATAPULT CAPITAL MANAGEMENT LLC 0.14M
VTL Associates, LLC 21203
NEW ENGLAND SECURITIES CORP /MA/ 45

Major Shareholders

Name Relationship Total Shares Holding stocks
Lehmkuhl Walter G EVP & President 0.08%  (47355) CNW /
Gonzalez Saul Executive Vice President 0.04%  (20516) CNW /
Anton John James 0.02%  (9903) CNW /

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