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Stock Market & Financial Investment News

News Breaks
September 14, 2012
10:07 EDTWERN, CHRW, HTLD, JBHT, KNX, XPOWerner 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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October 1, 2014
10:00 EDTXPOOn The Fly: Analyst Initiation Summary
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09:05 EDTKNXKnight Transportation acquires Barr-Nunn Transportation for $112.4M
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08:10 EDTJBHT, XPOTrucking, intermodal coverage resumed with a Market Weight at Wells Fargo
Wells Fargo expects truck load rates to rise, with momentum lasting through the next bid season. The firm says that brokers' gross margin pressure has subsided, and it has a positive outlook on them. Wells remains cautious on truckload carriers, however, due to wage pressures and difficulty growing fleets. It identifies JB Hun (JBHT), Landstar (LSTR), Ryder (R) and XPO Logistics (XPO) as its favorite names in the sector, and has Outperform ratings on all of those stocks.
08:04 EDTXPOXPO Logistics initiated with an Outperform at Wells Fargo
Target $45-$47.
08:00 EDTJBHTJ.B. Hunt coverage resumed with an Outperform at Wells Fargo
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07:59 EDTHTLDHeartland Express coverage resumed with a Market Perform at Wells Fargo
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07:57 EDTCHRWC.H. Robinson coverage resumed with a Market Perform at Wells Fargo
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September 24, 2014
07:47 EDTXPOXPO Logistics price target raised to $45 from $36 at Oppenheimer
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September 22, 2014
10:18 EDTKNXKnight Transportation management to meet with BB&T
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09:20 EDTXPOGIC Private reports 5.9% passive stake in XPO Logistics
08:33 EDTXPOXPO Logistics price target raised to $48 from $38 at FBR Capital
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07:25 EDTJBHTCitigroup to hold a conference
Industrials Conference to be held in Boston on September 22-24.
September 19, 2014
07:56 EDTXPOXPO Logistics price target raised to $46 from $40 at Credit Suisse
Credit Suisse raised XPO estimates and increased its price target to $46 from $40 following the $700M capital raise. The firm said the capital injection signals a strong M&A pipeline and management is in active discussions with around a dozen potential targets. Shares are Outperform rated.
06:40 EDTWERN, KNX, JBHTRegulator sued over truck training requirements, NY Times reports
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