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News Breaks
January 11, 2013
13:43 EDTSWFTSwift Transportation settles driving academy class action litigation
Swift Transportation announces it has settled the driving academy class action litigation related to the issuance of commercial driver licenses in Tennessee. All amounts related to this settlement were fully reserved in prior periods in accordance with generally accepted accounting principles, and thus there will be no additional charges in 4Q12 or future periods. The settlement is not an admission of liability and provides expressly that Swift denies the allegations of the lawsuits and denies that it engaged in any wrongdoing or improper conduct. Swift also announces that it has settled its cross claim against the Tennessee Department of Safety that was part of the driving academy class action litigation. This settlement includes a formal retraction by TDOS of its public statements relating to the third party CDL testing of drivers and payment by TDOS for a portion of the costs that Swift incurred in the litigation. Pursuant to the class action settlement, Swift has agreed to make certain payments to qualifying class members on a claims-made basis which will be within the dollar range that Swift previously disclosed in its public filings and Swift will also agree to relinquish any legal claims to amounts owed by class members for unpaid academy tuition. Based on the review of those claims, the total cash payments by Swift relating to the settlement including legal costs is expected to be within the amounts that were disclosed in the company's prior SEC filing and which were fully reserved for in prior periods in accordance with generally accepted accounting principles. Moreover, although Swift will relinquish its legal rights to approximately $16M in amounts owed to it by class members for unpaid academy tuition, such amounts were fully reserved for in prior periods in accordance with generally accepted accounting principles and thus no additional charges or financial impact will be recorded for the relinquishment of such unpaid tuition receivables in connection with the settlement.
News For SWFT From The Last 14 Days
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October 24, 2014
10:03 EDTSWFTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Align Technology (ALGN) upgraded to Buy from Hold at Jefferies... Brandywine Realty (BDN) upgraded to Buy from Hold at Stifel... Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Feltl... Carpenter Technology (CRS) upgraded to Overweight from Neutral at JPMorgan... Check Point (CHKP) upgraded to Buy from Hold at Needham... Diamond Offshore (DO) upgraded at ISI Group... Digital Realty (DLR) upgraded to Market Perform from Underperform at Cowen... EQT Corporation (EQT) upgraded to Buy from Neutral at SunTrust... Education Realty (EDR) upgraded to Buy from Hold at MLV & Co.... Gigamon (GIMO) upgraded to Neutral from Underperform at BofA/Merrill... Halliburton (HAL) upgraded to Buy from Neutral at Citigroup... Invacare (IVC) upgraded at KeyBanc... Knight Transportation (KNX) upgraded to Neutral from Underperform at Credit Suisse... Logitech (LOGI) upgraded to Buy from Neutral at UBS... Lorillard (LO) upgraded to Market Perform from Underperform at Cowen... Maxim Integrated (MXIM) upgraded to Buy from Hold at Deutsche Bank... NCR Corp. (NCR) upgraded to Neutral from Sell at Goldman... Nabors Industries (NBR) upgraded to Buy from Hold at Argus... Nucor (NUE) upgraded to Outperform from Underperform at CLSA... Old National Bancorp (ONB) upgraded to Buy from Neutral at DA Davidson... Plexus (PLXS) upgraded to Outperform from Market Perform at Raymond James... Potash (POT) upgraded to Buy from Hold at TD Securities... Reliance Steel (RS) upgraded to Buy from Hold at Jefferies... ResMed (RMD) upgraded to Outperform from Market Perform at William Blair... Royal Dutch Shell (RDS.A) upgraded to Buy from Neutral at UBS... Swift Transport (SWFT) upgraded to Buy from Hold at Stifel... Vulcan Materials (VMC) upgraded to Overweight from Equal Weight at Stephens... Weatherford (WFT) upgraded to Buy from Neutral at Citigroup.
08:03 EDTSWFTSwift Transport upgraded to Buy from Hold at Stifel
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October 23, 2014
16:09 EDTSWFTSwift Transport up 5.6% after reporting Q3 results, guidance
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16:08 EDTSWFTSwift Transport sees FY15 adjusted EPS $1.62-$1.72, consensus $1.65
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16:08 EDTSWFTSwift Transport sees FY14 adjusted EPS $1.29-$1.33, consensus $1.27
16:06 EDTSWFTSwift Transport reports Q3 adjusted EPS 39c, consensus 35c
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October 20, 2014
06:12 EDTSWFTSwift Transport upgraded to Buy from Neutral at Citigroup
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October 17, 2014
06:56 EDTSWFTSwift Transport added to short-term buy list at Deutsche Bank
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