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News Breaks
December 4, 2012
07:44 EDTUPS, R, GBX, CGI, ODFL, XPO, ECHO, GWR, FWRDRaymond James to host a conference
Transportation Conference is being held in Chicago on December 4.
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November 24, 2015
08:48 EDTUPSAmazon may be running air cargo trial in Ohio, Motherboard says
Amazon (AMZN), which has been increasingly investing in its own alternatives to UPS (UPS), FedEx (FDX) and other shipping partners, may be utilizing a third-party air cargo operation in Ohio, dubbed "Aerosmith," on a trial basis to transport products between East Coast and West Coast fulfillment operations, according to Motherboard. Reference Link
November 23, 2015
06:04 EDTXPOSpruce House reports 5.2% passive stake in XPO Logistics
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November 19, 2015
07:30 EDTUPS, ECHO, XPOUBS to hold a conference
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November 18, 2015
06:19 EDTUPS, XPOUPS, FedEx peers see business in bulky item deliveries, WSJ says
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November 17, 2015
17:32 EDTGWRNorfolk Southern spikes after Canadian Pacific proposes merger
Shares of railroad operator Norfolk Southern (NSC) are spiking in the after-hours after rival Canadian Pacific (CP) announced that it has sent an offer letter to Norfolk Southern proposing a business combination. WHAT'S NEW: After the close of trading on Tuesday, Canadian Pacific proposed a business combination with Norfolk Southern "that would create a transcontinental railroad with the scale and reach to deliver improved levels of service to customers and communities while enhancing competition and creating significant shareholder value." Canadian Pacific noted that the proposal reflects a "sizable premium in cash and stock offered to NS shareholders." The combined company would have a potential for faster earnings growth than either of the companies independently, CP noted, while offering unparalleled customer service and competitive rates to shippers." The combined company would innovate a new approach to terminal access that would allow another carrier to operate from a point of connection in the event the combined company failed to provide adequate service or competitive rates. The combination of NS and CP would provide a solution to "bottleneck pricing" and alleviate congestion in Chicago by channeling rail traffic away from Chicago. WHAT'S NOTABLE: According to a Globe and Mail report from earlier Tuesday, Keith Creel the COO of Canadian Pacific, who was speaking at a transportation conference, said rail mergers are inevitable but the executive "refused" to confirm past reports that the railroad operator was in talks to acquire rival Norfolk Southern. ANALYST VIEW: ON November 12, research firm BB&T said it believes there are many scenarios in which a merger between Canadian Pacific and Norfolk Southern would benefit both companies. The firm said that Norfolk Southern shareholders would get a 20%-30% premium above the stock's current level, while Canadian Pacific's potential revenue growth issues would be solved and its 2018 EPS would be boosted by 20% plus. PRICE ACTION: Shares of Norfolk Southern are up 6.9% to $93.00, while Canadian Pacific shares are unchanged. OTHERS: Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Genesee & Wyoming (GWR), Kansas City Southern (KSU) and Union Pacific (UNP).
10:00 EDTFWRDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CF Industries (CF) upgraded to Positive at Susquehanna... ExlService (EXLS) upgraded to Buy from Neutral at BofA/Merrill... Fitbit (FIT) upgraded to Buy at BofA/Merrill... Forward Air (FWRD) upgraded to Outperform at Baird... HD Supply (HDS) upgraded to Positive from Neutral at Susquehanna... Hannover Re (HVRRY) upgraded to Overweight from Underweight at JPMorgan... Moody's (MCO) upgraded to Buy from Neutral at UBS... PRA Group (PRAA) upgraded to Strong Buy from Market Perform at Raymond James... Plum Creek Timber (PCL) upgraded to Outperform from Sector Perform at RBC Capital... Shire (SHPG) upgraded to Outperform from Market Perform at Leerink... Yandex (YNDX) upgraded to Overweight from Equal Weight at Morgan Stanley... Zayo Group (ZAYO) upgraded to Buy from Neutral at MoffettNathanson.
08:02 EDTFWRDForward Air upgraded to Outperform at Baird
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06:21 EDTFWRDForward Air upgraded to Outperform from Neutral at Baird
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November 16, 2015
14:01 EDTODFLOld Dominion announces general rate increase of 4.9%, new ODFL 550 base tariff
Old Dominion Freight Line announced two pricing initiatives that will be implemented effective November 30: (i) a general rate increase of 4.9% applicable to rates established under the existing ODFL 559 tariff, and (ii) a new, "re-indexed" base tariff, the ODFL 550, which eliminates the fuel surcharge when the average U.S. Department of Energy price of diesel fuel is under $3.00 per gallon.
November 15, 2015
12:42 EDTGWRGenesee & Wyoming shares could gain 20% or more in a year, Barron's says
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