Swift Transportation CompanyNYSE
Swift Transportation: Just A Pause, Not The Stop
Darspal S Mann
Darspal S Mann
Fri, Sep. 9, 9:17 AM
Thu, Sep. 8, 5:41 PM
Thu, Sep. 8, 4:39 PM
- Swift Transportation (NYSE:SWFT) +6.5% AH after announcing that Founder and CEO Jerry Moyes will retire effective Dec. 31, to be succeeded by current President and COO Richard Stocking; Moyes will remain on the company's board.
- Moyes formed Common Market Distribution Corp. in 1966, which was later merged with Swift Transportation, which he also founded.
- Stocking joined SWFT in 1992 and has served as President and COO since 2010.
Wed, Sep. 7, 12:03 PM
- Transportation stocks are solidly higher across select parts of the broad sector.
- Some technical traders think the sector is on a breakout pattern, while analysts are honed in on conference presentations where Q3 updates are being spilled.
- Notable gainers include Diana Shipping (DSX +8.3%), Scorpio Bulkers (SALT +7.5%), Safe Bulkers (SB +4.8%), and Panagaea Logistics Solutions (PANL +13.4%), Celadon Group (CGI +4.2%), USA Truck (USAK +3.5%), American Airlines Group (AAL +6.2%), United Continental (UAL +5.6%), Delta Air Lines (DAL +5.4%), CSX Corp (CSX +1.6%), and Roadrunner Transportation Systems (RRTS +2.1%), and Swift Transportation (SWFT +0.8%).
- The Dow Jones Transportation Index is up 1.11% vs. slight declines for broad market averages.
Tue, Aug. 16, 4:08 PM
- A major announcement from Ford that it will develop a 100% autonomous vehicle in 2021 could have far-reaching implications in a variety of sectors.
- “The first application of the fully autonomous vehicle will be commercial applications, whether it’s ride-hailing or parcel delivery,” Ford CEO Mark Fields told Recode. Companies that could be eyeing the implication of purchasing self-driving car fleets include FedEx (NYSE:FDX), Amazon (NASDAQ:AMZN), UPS (NYSE:UPS), Domino's Pizza (NYSE:DPZ), and Papa John's International (NASDAQ:PZZA).
- There's also relevance on Ford's big bet on autonomy for Avis Budget Group (NASDAQ:CAR) and Hertz (NYSE:HTZ).
- The trucking and shipping sectors (ARCB, KNX, MRTN, CGI, YRCW, HTLD, UACL, SWFT) will also be monitoring how autonomous vehicle technology fits into the future.
- Previously: Ford to produce mass market autonomous vehicle (Aug. 16)
Fri, Jul. 22, 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%).
Thu, Jul. 21, 4:11 PM
Wed, Jul. 20, 5:35 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)
Tue, Jun. 21, 9:12 AM
Mon, Jun. 20, 5:36 PM
Thu, Apr. 21, 4:16 PM
- Swift Transportation (NYSE:SWFT): Q1 EPS of $0.25 beats by $0.04.
- Revenue of $967.8M (-5.1% Y/Y) misses by $32.2M.
Wed, Apr. 20, 5:35 PM
Thu, Apr. 7, 6:28 PM
- Truckload freight carriers fell sharply today after Stifel analysts downgraded several operators, saying they foresee weak pricing for long-haul trucking services for the rest of the year.
- Shares of most trucking companies have been rising since mid-January, but several trucking industry research groups have said capacity in the market remains relatively plentiful, giving shipping customers more leverage.
- Shares of USA Truck (NASDAQ:USAK), which was cut to Sell from Hold ended -11.1%; Hub Group (HUBG -4.6%), Marten Transport (MRTN -6%) and Universal Truckload (UACL -5.2%) were downgraded to Hold from Buy.
- Other stocks in the sector also fell, including KNX -2.4%, SWFT -3.8%, WERN -2.5%, HTLD -1.8%, CVTI -3.6%, RRTS -2.8% and CGI -2.1%.
- Now read Caution raised on the trucking sector by Avondale Partners
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%).
Wed, Mar. 9, 5:55 PM
- Swift Transportation (NYSE:SWFT) cruised to a +5.1% gain in today's trade following its first-ever mid-quarter conference call after yesterday's close.
- SWFT reiterated its FY 2016 EPS outlook of $1.50-$1.60 vs. analyst consensus of $1.53, with 15%-17% of yearly earnings coming in Q1, 23%-25% coming in Q2 and Q3, and as much as 35%-37% in Q4.
- Among analyst notes written after the call, Baird maintained its Buy rating as it viewed the update as likely better than investors feared, and Evercore ISI maintained a Buy rating since the added information from the call should mitigate fears of a trend of rapidly declining volumes and revenue per loaded mile results during the quarter.
- Other transportation services also finished higher: JBHT +1.9%, WERN +3%, R +1.8%, HTLD +1.5%, LSTR +1.9%, KNX +2.7%.