Truck leasing and logistics company Ryder System cut its third-quarter and full-year profit forecast Monday, saying industries beyond the housing sector are starting to show signs of slowing.
Ryder , whose shares fell 8 percent in pre-market trading, said, "Economic conditions have softened considerably in more industries beyond those related to housing and construction."
It cited softer-than-expected demand in its commercial rental product lines and lower prices for used vehicles.