Plus: Ten Oaks issues statement following USLS closure, a new bill to combat cargo theft is introduced, and year-over-year trucking costs increased by 6.6%.
Amazon unveils plans for a low-cost storefront featuring Chinese sellers' products, aiming to compete with Temu and Shein in the U.S. market.
ATRI report reveals a 6.6% increase in trucking operational costs during 2023 freight recession. Here's a breakdown of the numbers.
RXO shares jump on UPS Coyote acquisition. Analysts boost price targets, but concerns linger over leverage and integration challenges.
The market has spoken – and it likes what it sees in RXO's big Coyote Logistics grab. Let's break down the Wall Street reaction and what it means for the freight industry.
"The acquisition will significantly enhance RXO's scale within the logistics industry." - Stifel analysts
But some analysts are waving caution flags.
"The risk/reward balance still warrants a Hold rating on the stock." - Stifel
Sources: Investing.com | Investopedia
Rather than trying to play in all aspects of freight, including LTL, FTL, asset-based carriers, etc, Tomé wanted to focus on consolidating UPS to what they do best: Parcel Delivery.
Freight carrier Forward Air cuts 150 employees across sales, tech and C-suite after debt-laden Omni Logistics acquisition.
Forward Air faces major setbacks with a 91% stock decline and debt downgrades from Moody’s and Fitch. Leadership changes and financial woes compound the turmoil.
Forward Air's stock tumbles after the Omni merger and CFO departure. Earnings miss and legal battles further impact investor confidence.
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