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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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July 22, 2014
08:07 EDTHTLDHeartland Express reports Q2 EPS 30c, consensus 25c
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July 21, 2014
08:10 EDTWERNWerner reports Q2 EPS 35c, consensus 35c
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July 18, 2014
08:01 EDTWERNWerner announces equity investment in Hercules Logistics
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July 16, 2014
10:00 EDTJBHTOn The Fly: Analyst Upgrade Summary
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08:58 EDTJBHTJ.B. Hunt upgraded to Outperform from Market Perform at Bernstein
06:58 EDTJBHTJ.B. Hunt upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded J.B. Hunt to Outperform based on valuation and earning momentum. The firm believes J.B. Hunt is well positioned to capitalize on the trend to intermodal from truck given its strong market position and relationships with railroads. Price target raised to $86 from $78.
July 15, 2014
10:05 EDTJBHTJ.B. Hunt backs FY14 revenue growth view of 10%-12%, consensus $6.19B
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08:31 EDTJBHTJ.B. Hunt reports Q2 EPS 79c, consensus 79c
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July 14, 2014
15:24 EDTJBHTNotable companies reporting before tomorrow's open
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July 10, 2014
15:28 EDTXPONine Ten Partners reports 6.13% passive stake in XPO Logistics
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