Railcar maker Greenbrier Cos Inc , which was riding a surge in demand for oil tank cars until the middle of last year, said it was looking to sell some of its non-core businesses after overall deliveries fell for the third quarter in a row.The company's shares fell 8 percent in morning trading but recovered to trade down 3 percent at 1250 ET."We think that investors were increasingly anticipating some form of restructuring at Greenbrier to further support (its) decision to walk away from Carl Icahn's bid," Jefferies & Co analyst Peter Nesvold wrote in a note.Greenbrier late last year turned down two offers from activist investor Icahn to merge with rival American Railcar Industries Inc but said in January it remained open to talks. Icahn had a stake of 3.41 percent in Greenbrier as of Dec. 21, according to regulatory filings.
American Railcar Industries, Inc. is a North American designer and manufacturer of hopper and tank railcars. Shares of ARII fell by 3.12% or $-1.2799/share to $39.76. In the past year, the shares have traded as low as $20.26 and as high as $47.10. On average, 230520 shares of ARII exchange hands on a given day and today's volume is recorded at 66304.
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