XPO drives to top industrial gainer of week, Mexican airport operators among losers
The Industrial Select Sector (XLI) was among the six, out of the 11 S&P 500 sectors, which closed the week in green (+0.78%). However, the SPDR S&P 500 Trust ETF…
‘Freight recession’ snares J.B. Hunt in Q1
Mid-50% intermodal bid compliance an ‘all-time low’ A falloff in container imports into the nation’s West Coast along with weaker domestic trucking volumes pushed J.B. Hunt Transport Services’ first-quarter results…
Trucking stocks rev higher after mega merger between Knight-Swift and U.S. Xpress
The trucking sector is on watch on Tuesday after a mega-deal was announced with Knight-Swift Transportation (NYSE:KNX) acquiring U.S. Xpress (USX) for a hefty premium. The $808M deal will go…
Layoffs Now Effect the Shipping Industry
While we’ve seen layoffs in the tech industry skyrocket over the past few months, we’re now observing them in the shipping industry – in the middle of Peak Season. The…
FedEx Parks Planes, Maersk Cancels Sails: World Trade Appears To Be Rapidly Deteriorating
Economic storm clouds are gathering worldwide as some of the largest shipping companies warn about sliding global trade. US shipper FedEx and Danish shipping giant A.P. Moller-Maersk A/S have been…
XPO Spinoff RXO Officially Launches
XPO Logistics Inc. turned its tech-enabled brokered transportation platform into an independent, publicly-traded company Nov. 1. The new company, named RXO, will broker truckload freight via a proprietary digital freight…
XPO Logistics points to strong trends ahead of business split
XPO Logistics (NYSE:XPO) reported a 3% increase in revenue for Q3 when the impact of selling the intermodal business is backed out. Adjusted net income from continuing operations increased to $168M…
Saia says demand lost momentum as Q3 advanced
Analyst sees $200M profit lever from service enhancements Less-than-truckload carrier Saia said demand weakened as the third quarter progressed. The company reported earnings per share of $3.67 Monday before the…
East Coast Retail Diesel Prices Moving Significantly Higher Than Overall US Hikes
East Coast retail diesel prices are soaring relative to the rest of the country, propelled by inventories in the region that are almost half of what they normally should be…
7 Trucking Stocks to Sell as the Shipping Boom Goes Bust
It’s time to be realistic about this transportation industry Waning demand and macro headwinds mean it’s time to consider trucking stocks to sell. Daseke (DSKE): Revenue trends have been declining for…