Expeditors reports double-digit growth, but lacks confidence for fourth quarter

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Expeditors, which is eyeing the Europe and Asian markets more closely, has reported strong third-quarter results. Air freight volumes rose 15% in September, giving it a year-on-year increase for the quarter of 12%, while sea freight revenues grew 14.3%. But the company played down confidence for the last quarter of the year. And its shares fell after Credit Suisse downgraded the company, claiming “a combination of structural and cyclical headwinds” would hinder earnings growth.