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December 21, 2012
10:25 EDTUACLUniversal Truckload names Scott Wolfe CEO, David Crittenden CFO
Universal Truckload announced that its board has appointed Scott Wolfe as CEO and David Crittenden as CFO. Don Cochran, Universal's previous CEO, has been selected as Vice Chairman. He retains his responsibilities as Universal's President. Bob Sigler, Universal's previous CFO, will serve as Executive Vice President.
News For UACL From The Last 14 Days
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September 30, 2015
16:34 EDTUACLOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street were sharply higher in the last day of the third quarter, but not by nearly enough to turn any of the major averages positive on a quarterly basis. The Dow ended the quarter with a loss of about 7.6%, the Nasdaq slid 7.4% and the S&P has lost 7% in the last three months. Investors hope the fourth quarter will be more profitable and the non-farm payrolls report for September and the kickoff of earnings season, which are both on the near-term horizon, will certainly have a say in whether that is the case. ECONOMIC EVENTS: In the U.S., payroll processor ADP reported that 200,000 jobs were added this month, topping expectations for 190,000 job additions. The Chicago PMI business barometer index fell to 48.7 in September, missing expectations for a reading of 53.6. Additionally, the Senate passed a continuing resolution, officially funding the government through December 11. In China, important data, including manufacturing PMIs and Caixin readings, will be released overnight, but Chinese markets will be closed for "Golden Week" from October 1 to October 7. COMPANY NEWS: Shares of Gap (GPS) and Ralph Lauren (RL) moved in opposite directions after an executive for one left to take over for an icon at the other. Stefan Larsson will step down as global president of Old Navy in order to become the new Chief Executive Officer of Ralph Lauren, replacing the man who founded the company that bears his name. At least three research firms downgraded Gap shares to sell or equivalent ratings and the stock fell 5.69% to $28.50 in the wake of the executive shake-up, while Ralph Lauren shares advanced 13.56% to $118.16... Re/code's Kara Swisher and Kurt Wagner reported, citing sources, that Twitter (TWTR) founder and interim CEO Jack Dorsey is set to be named permanent Chief Executive, possibly as soon as Thursday. Re/code noted that Dorsey will remain as CEO of Square, the payments company he also founded, and that the company is likely to reconfigure its board of directors, beginning with the departure of former CEO Dick Costolo. MAJOR MOVERS: Among the notable gainers were Rentrak (RENT) and comScore (SCOR), which advanced a respective 24.61% and 11.29% after announcing a stock-for-stock merger agreement. Also higher was Western Digital (WDC), which gained $10.57, or 15.35%, to $79.44 after a subsidiary of China's Tsinghua Holdings agreed to take a 15% stake in the company. Additionally, Synaptics (SYNA) rose 27.31% to $82.46 after Bloomberg reported that the company rejected a $110 per share bid from a state-backed Chinese investment group. Among the noteworthy losers was Barracuda Networks (CUDA), which crashed $8.01, or 34.01%, to $15.54 after its quarterly results and future guidance both fell short of analyst expectations. Also lower was Mellanox (MLNX), which fell $2.00, or 5.03%, to $37.79 after agreeing to acquire EZchip (EZCH) but failing to reiterate its guidance on a subsequent conference call. Separately, Universal Truckload (UACL) plunged 18.91% to $15.57 after guiding its Q3 results significantly below consensus estimates, after which the stock saw downgrades at research firms BB&T and Citi. INDEXES: The Dow advanced 235.57, or 1.47%, to 16,284.70, the Nasdaq added 102.84, or 2.28%, to 4,620.17, and the S&P 500 rose 35.94, or 1.91%, to 1,920.03.
10:01 EDTUACLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abengoa Yield (ABY) downgraded to Equal Weight from Overweight at Morgan Stanley... American Airlines (AAL) downgraded to Neutral from Buy at Goldman... Baidu (BIDU) downgraded to Hold from Buy at Summit Research... Banco Santander (SAN) downgraded to Neutral from Overweight at JPMorgan... Barracuda (CUDA) downgraded to Equal Weight from Overweight at Stephens... Basic Energy (BAS) downgraded to In-Line from Outperform at Imperial Capital... C.H. Robinson (CHRW) downgraded to Sell from Neutral at Goldman... Cheetah Mobile (CMCM) downgraded to Neutral from Outperform at Credit Suisse... FleetCor (FLT) downgraded to Hold from Buy at Evercore ISI... Gap (GPS) downgraded to Sell from Neutral at UBS... Genuine Parts (GPC) downgraded to Sell from Neutral at Goldman... Grupo Televisa (TV) downgraded to Hold from Buy at HSBC... ITC Holdings (ITC) downgraded to Sell from Neutral at UBS... Lantheus (LNTH) downgraded to Market Perform from Outperform at Wells Fargo... Rentrak (RENT) downgraded to Buy from Strong Buy at Needham... SQM (SQM) downgraded to Neutral from Overweight at JPMorgan... Sequenom (SQNM) downgraded to Hold from Buy at Jefferies... Team (TISI) downgraded to Equal Weight from Overweight at Stephens... Universal Truckload (UACL) downgraded to Hold from Buy at BB&T.
07:23 EDTUACLUniversal Truckload downgraded to Hold from Buy at BB&T
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06:24 EDTUACLUniversal Truckload downgraded to Neutral from Buy at Citi
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September 29, 2015
16:26 EDTUACLUniversal Truckload to resume trading at 4:30 pm ET
Quotes resume at 4:25 pm ET.
16:05 EDTUACLUniversal Truckload sees Q3 EPS 27c-31c, may not compare to consensus 43c
Sees Q3 revenue $283M-$290M, consensus $298.97M. Universal's financial performance reflects continuing soft demand for truckload transportation services from customers in the steel, energy and selected industrial sectors. the company noted, "Our logistics operations generally continue to operate at anticipated volume levels, but foreign currency impacts and implementation costs at certain operations have restrained operating margins somewhat. Price momentum for our intermodal business has slowed, dampening the rate of growth seen in recent quarters."
16:00 EDTUACLUniversal Truckload trading halted, news pending
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