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IN BRIEF

Airborne Stock Falls 26% on Forecast

July 03, 2002|Bloomberg News

Airborne Inc. said it may report a second-quarter loss instead of the profit analysts expected as fuel costs rose and customers used cheaper shipping options.

The news sent its stock down $4.81, or 26%, to $13.58 on the NYSE.

The third-largest U.S. air-freight company said it expects to report second-quarter results this month ranging from a profit of 4 cents a share to a loss of 4 cents. The average forecast in a Thomson First Call analyst survey was 13 cents.

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