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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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September 15, 2014
09:59 EDTJBHTOn The Fly: Analyst Downgrade Summary
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08:57 EDTJBHTJ.B. Hunt downgraded to Underperform from Neutral at BofA/Merrill
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September 12, 2014
14:18 EDTWERNWerner upgraded to Peer Perform from Underperform at Wolfe Research
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11:27 EDTXPO, KNX, HTLDXPO Logistics hits 52-week high following $700M investment, increased outlook
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10:10 EDTXPOHigh option volume stocks
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09:14 EDTXPOOn The Fly: Pre-market Movers
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08:45 EDTXPOXPO Logistics price target raised to $45 from $37 at Stifel
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September 11, 2014
17:38 EDTXPOXPO Logistics raises FY17 revenue target to approximately $9B from $7.5B
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17:36 EDTXPOXPO Logistics announces $700M investment by PSP Investments, two others
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September 10, 2014
10:00 EDTXPO, CHRWOn The Fly: Analyst Initiation Summary
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05:45 EDTXPOXPO Logistics initiated with an Overweight at Barclays
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05:43 EDTCHRWC.H. Robinson initiated with an Equal Weight at Barclays
Target $70.
September 9, 2014
07:19 EDTWERNRBC Capital to hold a conference
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September 8, 2014
10:13 EDTXPOXPO Logistics management to meet with BB&T
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September 3, 2014
10:00 EDTCHRWOn The Fly: Analyst Downgrade Summary
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10:00 EDTKNXOn The Fly: Analyst Upgrade Summary
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07:42 EDTKNXKnight Transportation upgraded to Overweight from Equal Weight at Stephens
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07:32 EDTJBHTJ.B. Hunt shares undervalued, says Bernstein
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07:02 EDTCHRWC.H. Robinson downgraded at Stifel
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06:07 EDTCHRWC.H. Robinson downgraded to Hold from Buy at Stifel
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