Yesterday, 11:23 AM
- The trucking stocks is revving higher after solid earnings reports from Swift Transportation (SWFT +12.4%) and Werner Enterprises (WERN +4.8%). Though quarterly profit dropped at both companies, commentary from management indicated the freight market is poised to improve.
- Notable movers include Covenant Transportation Group (CVTI +7.9%), Celadon Group (CGI +4.7%), Heartland Express (HTLD +4%), Knight Transportation (KNX +3.9%), and Old Dominion Freight Line (ODFL +3.1%).
Tue, Jun. 21, 12:48 PM
Tue, Jun. 21, 10:02 AM
- The trucking and logistics sector is rattled by a weak read from Werner Enterprises (WERN -8.1%) on market conditions.
- The company warns it's having trouble with rate negotiations and faces driver wage pressure. Q2 EPS guidance was taken lower by Werner.
- Decliners in the sector off in early trading include Swift Transportation (SWFT -6.4%), Knight Transportation (KNX -6%), Heartland Express (HTLD -2.9%), Roadrunner Transportation Systems (RRTS -3.3%), Celadon Group (CGI -7.3%), Old Dominion Freight Lines (ODFL -2.3%), and XPO Logistics (XPO -1.4%).
- Previously: Werner Enterprises guides below expectation for Q2 (June 20)
Mon, Mar. 14, 1:20 PM
- Avondale Partners sees a tough road to higher earnings for the trucking sector due largely to deteriorating macro factors.
- New capacity coming online just as demand weakens doesn't bode well for pricing, according to the boutique investment firm.
- Cautions is raised on Swift Transportation (SWFT -3.7%), Celadon Group (CGI -5.4%), Covenant Transportation Group (CVTI -8.3%), J.B. Hunt Transport Services (JBHT +0.2%), Knight Transportation (KNX -3%), Marten Transport (MRTN -0.1%), USA Truck (USAK -0.6%), and Werner Enterprises (WERN -3.2%).
Mon, Feb. 22, 10:19 AM
- Shipping stocks are on the move after the large jump in crude oil prices eases some anxiety over demand.
- Notable gainers include Diana Shipping (DSX +12.1%), Navios Maritime Partners (NMM +6.5%), Frontline (FRO +6.6%), and Scorpo Bulkers (SALT +5.9%).
- The trucking sector is also ahead of broad market averages off the oil news. ArcBest (ARCB +4.4%), Swift Transportation (SWFT +1.6%), Celadon Group (CGI +2%), and Knight Transportation (KNX +2.6%) (also upgraded) are on the rise.
- Railroad industry players CSX (CSX +3.8%) and Genesee & Wyoming (GWR +3.7%) are up sharply.
- On the vehicle manufacturing/supplier side, solid gainers include Meritor (MTOR +6.7%), Dana Holding (DAN +2.7%), Westport Innovations (WPRT +3.9%), Oshkosh (OSK +3.8%), Navistar (NAV +5.4%), and PACCAR (PCAR +2.3%).
- The Detroit Three are all in rally mode as well. Ford (NYSE:F) and GM (NYSE:GM) are up 2%, while Fiat Chrysler Automobiles (NYSE:FCAU) is 3.3% higher.
- Previously: Oil prices rebound, WTI heads back above $30 (Feb. 22 2016)
Dec. 17, 2015, 4:58 PM
- Knight Transportation (NYSE:KNX) -9% AH after cutting Q4 earnings guidance below consensus, now seeing EPS of $0.31-$0.33 vs. $0.37 analyst consensus estimate and below its prior outlook for $0.36-$0.38.
- KNX says Q4 volumes remain similar to 2014, but that it as experienced significantly fewer non-contract opportunities, resulting in revenue per total mile trending lower than originally expected which hurt EPS by $0.03-$0.04.
- Trucking peers: ODFL, YRCW, UACL, HTLD, RRTS, CGI, WERN, CVTI, MRTN, LSTR, SWFT, USAK, R, JBHT.
Jun. 24, 2015, 11:16 AM
- Select railroad and trucking stocks trade weak after Q1 GDP figures are revised in-line with expectations. A read yesterday on durable goods was weak.
- Stocks from the transportation sector drifting lower include Knight Transportation (KNX -4.5%), Swift Transportation (SWFT -5.5%), ArcBest (ARCB -3.9%), YRC Worldwide (YRCW -2.2%), Greenbrier (GBX -1.6%), Heartland Express (HTLD -2.6%), Kansas City Southern (KSU -2.2%), Celadon Group (CGI -2%), JB Hunt Transport (JBHT -2.1%), Trinity Industries (TRN -1.6%).
- FedEx (FDX -0.9%) and UPS (UPS -0.8%) are also trailing broad market averages.
Apr. 27, 2015, 3:02 PM
- Trucking stocks are notably weak today with several analyst downgrades out in the sector.
- Knight Transportation (KNX -4%) received one of the harsher actions with Wolfe Research downgrading the stock to an Underperform rating.
- Other analysts cite apprehension in the sector into key earnings reports.
- Trucking decliners: Celadon Group (CGI -3.2%), Swift Transportation (SWFT -2.8%), Heartland Express (HTLD -2.9%), Werner Enterprises (WERN -6.9%), USA Truck (USAK -6.4%), P.A.M. Transportation (PTSI -4.9%), Roadrunner Transportation Systems (RRTS -2%).
Apr. 15, 2013, 12:53 PM
A tough day for the trucking sector with Swift Transportation (SWFT -8.1%) leading the downward fall. The gloom is tied to a reading of the Internet Truckstop's Market Demand Index which showed a 21% sequential fall in demand for trucks. Decliners: J.B Hunt Transportation (JBHT) -1.8%, Celadon Group(CGI) -4.2%, Marten Transport (MRTN) -3.8%, Heartland Express (HTLD) -1.1%, Knight Transportation (KNX) -1.4%.| Apr. 15, 2013, 12:53 PM | 1 Comment
Jan. 24, 2013, 10:52 AM
Swift Transportation (SWFT +22.4%) jets higher after the company saw its Q4 profits soar past the estimate of analysts. A note in its report that it will increase capital expenditure spending by 43% this year bodes well for the trucking sector (JBHT, KNX, UACL, WERN, MRTN, CGI, HTLD), says Stephanie Link.| Jan. 24, 2013, 10:52 AM
Oct. 8, 2012, 9:26 AM
Celadon (CGI) +1.6% premarket after the trucking company projects Q1 earnings above analyst expectations, citing a boost in revenue from acquisitions and a newer fleet of vehicles that helped cut maintenance costs.| Oct. 8, 2012, 9:26 AM
Oct. 11, 2011, 3:41 PMUSA Truck (USAK +20.5%) responds to Celadon's (CGI +4.8%) SEC filing in connection to an acquisition bid for the truckload carrier: "Our board of directors will evaluate Celadon's 13D filing in due course." Possible translation: With our stock down 25% YTD, we are thrilled with the offer. | Oct. 11, 2011, 3:41 PM
Oct. 11, 2011, 3:17 PMTrucker Celadon Group (CGI +4.8%) reports a 6.29% stake in USA Truck (USAK +20.2%), and says it's interested in buying its smaller rival. In an SEC filing, Celadon said it recently asked to meet USAK management to discuss a possible association between the companies, potentially including a combination of the two. | Oct. 11, 2011, 3:17 PM