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Stock Market & Financial Investment News

News Breaks
September 14, 2012
10:07 EDTKNX, CHRW, JBHT, WERN, XPO, HTLDWerner leads trucking stocks lower after guidance miss
Trucking company Werner Enterprises (WERN) and other trucking companies are retreating after Werner provided significantly lower than expected third quarter earnings per share guidance. The company expects its earnings per share to be 33c-36c, compared with analysts' consensus estimate of 44c. The company cited several factors that are negatively affecting its profits, including cost increases for truck depreciation and higher driver pay. Also weighing on the company's bottom line are higher fuel costs, rising health care costs, and increased maintenance equipment costs, the company said. Meanwhile, in a note to investors earlier today Jefferies research analyst Peter Nesvold reduced his 2012 earnings estimates for six trucking companies, including Werner. The latter company's guidance confirms that the trucking industry is weak, Nesvold wrote. However, many other data points indicate that the trucking industry is struggling, the analyst believes. For example, Nesvold noted that a week ago Jefferies found that diesel consumption data had reached its lowest point since December 2009, while the firm noted last Monday that truckload utilization levels continue to drop. In addition to Werner, Nesvold reduced his estimates on the following companies: C.H. Robinson (CHRW), Heartland Express (HTLD), J.B. Hunt (JBHT), Knight Transportation (KNX), and XPO Logistics (XPO). The analyst maintained a Buy rating on XPO and Hold ratings on the rest of the stocks. In mid-morning trading, Werner slumped 8.03% to $21.77, CH Robinson declined 0.81% to $56.78, Heartland dropped 3.33% to $13.36, J.B. Hunt lost 1.08% to $51.95, Knight tumbled 5.08% to $14.56, and XPO inched down 0.19% to $15.55.
News For WERN;CHRW;HTLD;JBHT;KNX;XPO From The Last 14 Days
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March 2, 2015
16:42 EDTHTLDHeartland Express files to sell 3.25M shares of common stock for holders
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16:23 EDTHTLDHeartland Express files to sell 3.25M shares of common stock for holders
February 24, 2015
10:00 EDTWERNOn The Fly: Analyst Upgrade Summary
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07:08 EDTWERNWerner upgraded to Buy from Hold at Deutsche Bank
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February 23, 2015
08:51 EDTXPOXPO Logistics added to Top Picks List at FBR Capital
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February 20, 2015
12:53 EDTKNXCitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.
06:27 EDTKNXTrucking stocks likely to outperform S&P 500, says Citigroup
Citigroup says its work indicates trucking stocks respond most directly to economic growth. With the economy on a growth trajectory, Citi expects trucking stocks are likely to outperform the S&P 500. The firm reiterates Buy ratings on Swift Transportation (SWFT) and Knight Transportation (KNX), with a preference for Swift. It also has a Buy rating on Cummins (CMI) and Neutral on PACCAR (PCAR).
February 19, 2015
09:59 EDTHTLDOn The Fly: Analyst Downgrade Summary
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09:59 EDTWERNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Altisource Residential (RESI) upgraded to Neutral from Sell at Compass Point... Angie's List (ANGI) upgraded to Overweight from Equal-Weight at First Analysis... Barrick Gold (ABX) upgraded to Buy from Hold at TD Securities... British Land (BTLCY) upgraded to Buy from Hold at Societe Generale... Coach (COH) upgraded to Buy from Hold at Topeka... Fiat Chrysler (FCAU) upgraded to Outperform from Neutral at Exane BNP Paribas... Garmin (GRMN) upgraded at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Canaccord... Iberdrola (IBDRY) upgraded to Neutral from Underweight at HSBC... KPN (KKPNY) upgraded to Neutral from Underperform at Exane BNP Paribas... Monster Worldwide (MWW) upgraded at Evercore ISI... Pharmacyclics (PCYC) upgraded to Buy from Neutral at Nomura... RPC, Inc. (RES) upgraded to Equal Weight from Underweight at Morgan Stanley... Sanofi (SNY) upgraded to Buy from Neutral at BofA/Merrill... Sasol (SSL) upgraded to Neutral from Underweight at HSBC... Tractor Supply (TSCO) upgraded at Oppenheimer... Valero (VLO) upgraded to Buy from Hold at Deutsche Bank... Weingarten Realty (WRI) upgraded to Neutral from Sell at UBS... Werner (WERN) upgraded on improving freight fundamentals at RBC Capital... diaDexus (DDXS) upgraded to Buy from Neutral at Ladenburg,
07:12 EDTWERNWerner upgraded on improving freight fundamentals at RBC Capital
As noted earlier, RBC Capital upgraded Werner to Outperform from Sector Perform. As reasons for the upgrade, the firm cited improving freight fundamentals and its belief that the company's margin is likely to rise further. Target to $37 from $29.
07:09 EDTHTLDHeartland Express downgraded on lack of catalysts at RBC Capital
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06:14 EDTHTLDHeartland Express downgraded to Sector Perform from Outperform at RBC Capital
06:14 EDTWERNWerner upgraded to Outperform from Sector Perform at RBC Capital
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February 18, 2015
16:11 EDTXPOXPO Logistics sees 2015 annual revenue run rate of at least $5.25B
Sees annual EBITDA run rate of at least $300M by December 31, and at least $1.5B of acquired historical annual revenue for the full year. The company reaffirmed its financial targets for the full year 2017: Revenue of approximately $9.0B and EBITDA of approximately $575M.
16:10 EDTXPOXPO Logistics reports Q4 EPS (10c), consensus (13c)
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10:05 EDTWERN, HTLD, KNX, CHRWOn The Fly: Analyst Initiation Summary
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06:38 EDTCHRWC.H. Robinson initiated with a Neutral at UBS
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06:34 EDTKNXKnight Transportation initiated with a Buy at UBS
Target $37.
06:34 EDTHTLDHeartland Express initiated with a Sell at UBS
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06:29 EDTWERNWerner initiated with a Neutral at UBS
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