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☆ Cramer says the market can't broaden out due to uncertainty away from tech
▼ + stars: | 2024-06-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said it's no secret that the market rally has been driven by a handful of tech stocks, and it's not likely to change anytime soon. Cramer said companies like Nvidia , Apple , Microsoft , Alphabet , Amazon , Oracle and now Broadcom have been integral to the rally. But while tech stocks have been shining, Cramer said other sectors can't quite say the same. For instance, Cramer pointed to the banks, which often serve as a bellwether for the market. It's hard to know where the market would be without the tech sector, he added.

Persons: CNBC's Jim Cramer, it's, Cramer, It's, Huntington, Hunt Organizations: Nvidia, Apple, Microsoft, Oracle, Broadcom, Federal Reserve, Trucking, Norfolk, Norfolk Southern and Union Pacific, Molson Coors, Kraft Heinz, PepsiCo Locations: Norfolk Southern

☆ Jefferies says small caps are starting to outperform and these stocks are the best way to play it
▼ + stars: | 2024-05-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

The time may have finally come for small-cap stocks to have their moment in the sun, according to Jefferies. "We have seen some improvement in absolute and relative performance and think we could have hit an inflection point," wrote Jefferies strategist Steven DeSanctis. Still, he said there's one caveat: small-cap earnings look weak on an absolute basis. "As the year rolls along, small-cap earnings are set to broaden, accelerate, and play a game of catch-up with large." Jefferies' price target of $140 is nearly 32% higher than where shares of ArcBest closed on Thursday afternoon.

Persons: Jefferies, Steven DeSanctis, Schrodinger Organizations: Nvidia, Boston Beer, Boston, Software, pharma, . Trucking Locations: ArcBest

☆ Alaska's ice road oil truckers are in a boom, and causing a backlash
▼ + stars: | 2024-03-15 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

With various North Slope oil production projects just ramping up, the years ahead look very promising for trucking in Alaska. Among the new North Slope activities is the ConocoPhillips Willow Project, which the Biden administration approved last year. A Doyon Drilling Inc. oil rig stands on the North Slope in Prudhoe Bay, Alaska, U.S., on Friday, Feb. 17, 2017. Daniel Acker | Bloomberg | Getty ImagesMeanwhile, the Pikka oil project by Australian company Santos is also taking shape on the North Slope, 50 miles west of Deadhorse. Most of the North Slope oil infrastructure (supplies, machinery, parts) is supplied by trucks that have to traverse the 414-mile Dalton Highway (Alaska Route 11).

Persons: Daniel Acker, Jeremy Miller, Carlile, Biden, Willow, Santos, Miller, Matt Jolly, Jolly, Joe Michel, Michel, Dalton, Jomo Stewart, axel, Stewart, Scott Kawasaki, Ashley Carrick, Kawaski, Kawasaki Organizations: Parker, Trans, Trans Alaska Pipeline System, Bloomberg, Getty, Transportation Systems, ConocoPhillips Willow Project, ConocoPhillips, Alaska Department of Natural Resources, Alaska West Express, Alaska Trucking Association, Caelus Energy, Fairbanks Economic Development Corp, Kinross, Food, Getty Images Bloomberg, Getty Images, Fairbanks, Kawasaki, Alaska Department of Transportation, Anchorage Daily News Locations: Prudhoe Bay , Alaska, U.S, Trans Alaska, United States, Alaska, Anchorage, Australian, Deadhorse, Prudhoe Bay, Dalton, Alaska West, North, Wawa, Harrison Bay , Alaska, Fairbanks, Fort Knox Alaska, Kinross, Tetlin , Alaska, Tetlin, Kinross Alaska, Getty Images Alaska

☆ Yellow’s Rivals Are Getting a Boost From the Trucker’s Demise
▼ + stars: | 2023-10-31 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

Freight carrier Yellow shut down operations after 99 years in business. Here’s how ballooning debt and a standoff with the Teamsters union led to Yellow’s downfall. Photo: George Walker IV/Associated PressThe collapse of one of the largest U.S. trucking companies is propping up competitors in a lean freight market. XPO , ABF Freight and Saia are among the carriers reporting strong growth in pricing power, shipment volumes and other key measures during the most recent quarter in trucking’s less-than-truckload sector, a high-stakes corner of the market in which carriers combine freight from multiple customers in a single trailer.

Persons: George Walker IV Organizations: Teamsters, Associated Locations: trucking’s

☆ Flexport Is in Talks to Buy Failed Freight Firm Convoy’s Technology
▼ + stars: | 2023-10-27 | by ( Liz Young | ) www.wsj.com time to read: 1 min

Convoy, which was valued at $3.8 billion following an April 2022 funding round, has been weighed down by heavy debt and declining freight demand. Photo: CONVOYFlexport is in talks to buy the technology of collapsed digital freight startup Convoy, a move that would expand the freight forwarder’s push into the domestic U.S. trucking market as the company seeks to climb back into profitability, according to a person familiar with the talks. The conversations are continuing, the person said, but didn’t provide additional financial details.

Organizations: Convoy

☆ Deaths haunt Corporate America via labor strikes
▼ + stars: | 2023-09-15 | by ( Ben Winck | ) www.reuters.com time to read: +5 min

United Auto Workers union President Shawn Fain joins UAW members who are on a strike, on the picket line at the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 15, 2023. Manufacturing plants in Wentzville, Missouri, Wayne, Michigan and Toledo, Ohio will be empty as Ford Motor (F.N), General Motors (GM.N), and Stellantis (STLAM.MI) try to reach an agreement with the United Auto Workers collective bargaining committee. Deaths among the demographic that make up the workforce in the transportation sector are partly putting pressure on the problem. Follow @BenWinck on XCONTEXT NEWSThe United Auto Workers union started simultaneous strikes at Ford, General Motors and Stellantis on Sept. 15 after last-minute labor negotiations failed to result in a deal. Pilots organized with the Air Line Pilots Association rejected a tentative labor deal with Fedex on July 24.

Persons: Shawn Fain, Rebecca Cook, they’re, Alan Krueger, walkouts, it’s, “, Darren Hawkins, Sean O’Brien, Lauren Silva Laughlin, Sharon Lam Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, Rights, Reuters, Ford, General Motors, Bureau of Labor Statistics, White, Richmond Federal Reserve, Reuters Graphics Reuters, United Airlines, Sensible, Pilots, Air Line Pilots Association, Fedex, Delta Air Lines, International Brotherhood of Teamsters, of Labor Statistics, Thomson Locations: Wayne , Michigan, U.S, Wentzville , Missouri, Toledo , Ohio

☆ U.S. Hiring Settles Into a Lower Gear
▼ + stars: | 2023-09-01 | by ( Lydia Depillis | More About Lydia Depillis | ) www.nytimes.com time to read: +2 min

Much of the slowdown has come from industries that are returning to more typical levels after the pandemic’s upheaval. Exhibit A: truck transportation, which grew to serve a stay-at-home online shopping spree and shrank as it died down. Trucking company payrolls flattened out over the past year, which probably masks an outright decline because many contracted owner-operators have also parked their rigs. “With Yellow taking 20-plus-thousand drivers out of the market, it’s a start in getting supply under control.”It’s not just the trucking industry, however. Lately, though, he’s seen more qualified job applicants who need work because their starting dates at law firms have been deferred.

Persons: ”, Kenny Vieth, ” It’s, Kevin Vaughan, It’s, he’s Organizations: Trucking, ACT Research Locations: Chicago

Two long-time industry executives told Reuters that Yellow's rates were roughly 10% to 20% below those of rivals. Loads in the so-called LTL market do not trade on the spot market and they vary based on the type and size of shipments, they said. "Yellow was way below" market rates, said Ken Adamo, chief of analytics at DAT Freight and Analytics, which operates one of North America's largest truck freight marketplaces. Unlike the highly fragmented trucking market, LTL is dominated by about a dozen players. Some providers are already raising rates, which could send LTL rates up 10% to 15% from current levels, Pickett said.

Persons: Mike Blake, Ken Adamo, Chris Pickett, Pickett, Adamo, Thomas Schmitt, Schmitt, Lisa Baertlein, Marguerita Choy Organizations: U.S, Rivals, Reuters, Analytics, Flock, Walmart, International Brotherhood of Teamsters, Forward, Forward Air, Thomson Locations: Mexico, San Diego , California, U.S, North, Los Angeles

☆ US trucking firm Yellow files for bankruptcy after loading up on debt
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook/File PhotoAug 6 (Reuters) - U.S. trucking firm Yellow Corp (YELL.O) filed for Chapter 11 bankruptcy protection on Sunday, burdened with a heavy debt load after a series of mergers and following tense contract negotiations with the Teamsters Union. The bankruptcy filing in a Delaware court lists estimated assets and liabilities of $1 billion to $10 billion and creditors of more than 100,000. Yellow's bankruptcy filing comes after Teamsters Union said late last month that it was notified that the company was ceasing operations. The company has been in contentious negotiations with the union over an internal restructuring initiative meant to boost efficiency. Yellow, saddled with liabilities from its purchases of Roadway in 2003 and USF in 2005, reported total debt of $1.5 billion last year, according to Refinitiv data.

Persons: Rebecca Cook, Darren Hawkins, Yellow, Donald Trump, Dietrich Knauth, Priyamvada, Juby Babu, Siddharth Cavale, Lisa Baertlein, Sriraj Kalluvila, Dhanya Ann Thoppil Organizations: REUTERS, Yellow Corp, Teamsters Union, YRC, Walmart, Uber, Teamsters, USF, Thomson Locations: Detroit , Michigan, U.S, Delaware, Kansas, New York, Bengaluru, Los Angeles

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. U.S. stocks have sharply rallied in 2023, with the benchmark S&P 500 (.SPX) clocking 17% gains year to date, fueled by optimism around artificial intelligence and hopes of a soft landing for the world's largest economy. "But in the service side, it's been pretty sticky and that's one reason why it's taking a lot longer for inflation to subside." Reuters GraphicsOverall, second-quarter earnings have been better-than-expected so far, with 79.1% of the 422 S&P 500 companies that have reported as of Friday beating analysts' estimates, according to Refinitiv data. The S&P index recorded 17 new 52-week highs and seven new lows, while the Nasdaq recorded 46 new highs and 128 new lows.

Persons: Brendan McDermid, Dow, Charlie Ripley, it's, John Williams, Michelle Bowman, Vaibhav, Zachary Kirkhorn, Berkshire Hathaway, Warren Buffett, Tyson, packer, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Berkshire, Tyson, Dow, Nasdaq, Federal, CPI, Allianz Investment Management, York Fed, Dow Jones, Apple, Reuters, Sage Therapeutics, Tyson Foods, Yellow Corp, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Trucking firm Yellow considers asset sale through bankruptcy filing, Bloomberg reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Rebecca Cook/File PhotoAug 4 (Reuters) - Trucking firm Yellow (YELL.O) is considering a sale of assets and real estate through a bankruptcy filing, which may come as soon as this weekend, Bloomberg News reported on Friday, citing people with knowledge of the situation. The company's assets have attracted the interest of a potential financial bidder, the report said adding that the bankruptcy filing could turn into a liquidation. The stock has risen about 253% since the news of a potential bankruptcy that has been driving a retail investor fueled 'meme-stock' rally. The cash-strapped U.S. trucking company had ceased operations and was planning to file for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. Reporting by Manya Saini and Ananta Agarwal in Bengaluru;Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Manya Saini, Ananta Agarwal, Arun Koyyur Organizations: REUTERS, Bloomberg, Teamsters Union, YRC, U.S, Thomson Locations: Detroit , Michigan, Bengaluru

☆ Apollo leads deal for trucking firm Yellow's bankruptcy loan - Bloomberg News
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook/File PhotoAug 1 (Reuters) - Creditors led by Apollo Global Management Inc (APO.N) are nearing a deal to provide Yellow Corp (YELL.O) with fresh cash during a coming bankruptcy, Bloomberg News reported, citing people familiar with the matter. Yellow declined to comment, while Apollo did not immediately respond to a Reuters request for comment. Yellow, formerly called YRC Worldwide, is the third-biggest U.S. trucking company. Yellow has $1.3 billion in debt payments due in 2024, including a $567.4 million term loan due in June and a $729.4 million U.S. Treasury loan due in September. Reporting by Priyamvada C in Bengaluru; Editing by Anil D'Silva and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Yellow, Priyamvada, Anil D'Silva Organizations: REUTERS, Apollo Global Management Inc, Yellow Corp, Bloomberg News, U.S, YRC, Teamsters, USF, Treasury, Thomson Locations: Detroit , Michigan, Bengaluru

☆ US trucking firm Yellow shuts ops, to file for bankruptcy, Teamsters say
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Cash-strapped U.S. trucking company Yellow Corp (YELL.O) has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. Yellow, formerly called YRC Worldwide, did not respond to a Reuters request for comment. The company was the third-biggest U.S. trucker specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. The Wall Street Journal reported the closure of the trucking firm's operations citing notices sent to customers and employees. On Monday, another 128 union members at YRC Freight Canada, a unit of Yellow, were told not to report for work.

Persons: Sean M O'Brien, Donald Trump, Yana Gaur, Urvi, Bharat Govind Gautam, Chris Reese, Stephen Coates, Nivedita Organizations: Yellow Corp, Teamsters Union, YRC, Teamsters, Walmart, Uber, Street Journal, YRC Freight, Thomson Locations: Nashville , Tennessee, YRC Freight Canada, Bengaluru

Yellow's demise underscores the shift in the U.S. trucking industry from too few trucks and truck drivers during the pandemic to too many today. Most U.S. trucking companies have about 20% spare capacity in their networks, Stifel analyst Bruce Chan said in a client note on Monday. Yellow struggled for more than a decade after loading up on debt from acquisitions of rival trucking firms Roadway and USF. Still, it is not good news for Yellow's customers, which likely will face double-digit price increases when they turn that business over to companies, Chan said. "If you weren't prepared for this, it's probably a pretty tough day for you," Adamo said of Yellow's customers.

Persons: Bruce Chan, Chan, Stifel's Chan, Donald Trump, Ken Adamo, it's, Adamo, Lisa Baertlein, Marguerita Choy Organizations: Yellow Corp, Walmart, Teamsters, Forward, TFI, FedEx Freight, Dominion, Apollo Global Management, Analytics, Thomson Locations: ANGELES, U.S, USF, Los Angeles

☆ Yellow Corp financial woes not economy-wide issue -White House adviser
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, July 31 (Reuters) - White House economic adviser Jared Bernstein on Monday said the reported impending bankruptcy of cash-strapped U.S. trucking company Yellow Corp (YELL.O) does not indicate an economy-wide problem. "So I think that this looks like a more of a Yellow story than an economy-wide one by a long shot," Bernstein said. Yellow Corp has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday. The company was the third-biggest U.S. trucker specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. "Nobody likes to see an event like this, as you say, practically a 100-year old company and iconic American Trucking Company and the job losses that you cited."

Persons: Jared Bernstein, Monday, Bernstein, Doina Chiacu, Bernadette Baum, Mark Potter Organizations: Yellow Corp, of Economic Advisers, CNBC, Corp, Teamsters Union, Teamsters, American Trucking Company, Thomson

☆ New tentative labor deal reached in Canadian port negotiations
▼ + stars: | 2023-07-31 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The International Longshore and Warehouse Union of Canada (ILWU) and the British Columbia Maritime Employers Association (BCMEA) late Sunday announced a tentative labor agreement. Canadian Labor Minister Seamus O'Regan commented Monday morning on the announcement of another tentative deal. This latest tentative deal does not mean the uncertainty is over. The first tentative labor deal was rejected by the union body in a two-day vote last week. A 14-day strike has led to more than 16 canceled sailings to the Canadian ports, according to maritime intelligence company, eeSea.

Persons: Rob Ashton, Ashton, Seamus O'Regan, Berkshire Hathaway, John Brooks, Brooks Organizations: Warehouse Union of Canada, British Columbia Maritime Employers Association, Sunday, Canada Industrial Relations, ILWU, Canadian Labor, Canadian, Canadian Pacific Kansas City, Canadian National Railway, U.S, BNSF, Union Pacific, Norfolk Southern, CSX, Pacific Kansas City Locations: Burrard, North Vancouver, British, ILWU Canada, Canadian Pacific, U.S, Berkshire, East, Pacific Kansas

☆ US trucking company Yellow shuts down operations, Wall Street Journal reports
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: 1 min

July 30 (Reuters) - U.S. trucking firm Yellow (YELL.O) ceased all operations on Sunday, the Wall Street Journal said citing notices sent to customers and employees. The Wall Street Journal reported last week the Nashville, Tennessee-based company is preparing to file for bankruptcy and has laid off a large number of workers. Earlier this month Yellow averted a threatened strike by 22,000 Teamsters-represented workers, saying the company will pay the more than $50 million it owed in worker benefits and pension accruals. The company said on Thursday it is exploring opportunities to divest its third party logistics company Yellow Logistics Inc, and is engaged with multiple interested parties. Reporting by Yana Gaur in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Yana Gaur, Chris Reese Organizations: Wall Street, Street, Teamsters, Yellow Logistics Inc, Thomson Locations: U.S, Nashville , Tennessee, Bengaluru

☆ Trucking firm Yellow cuts jobs - WSJ
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

Companies Yellow Corp FollowJuly 28 (Reuters) - U.S. trucking firm Yellow (YELL.O) has laid off a large number of workers as the company copes with a cash crunch and weighs options including an imminent bankruptcy filing, people familiar with the actions told the Wall Street Journal on Friday. The third-biggest U.S. trucking company, which has been in ongoing negotiations with union of Teamsters-represented workers regarding worker benefits and pension accruals, averted a threatened strike on Sunday. WSJ had earlier reported that Yellow was preparing to file for bankruptcy. Yellow did not immediately respond to a Reuters request for comment. Reporting by Savyata Mishra in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Savyata Mishra, Pooja Desai Organizations: Wall, U.S, Teamsters, Thomson Locations: U.S, Bengaluru

☆ U.S. Trucking firm Yellow prepares for bankruptcy - WSJ
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - U.S. trucking firm Yellow (YELL.O) is preparing to file for bankruptcy, the Wall Street Journal reported on Wednesday, as customers abandon the company amid a cash crunch and union negotiations. The company could seek bankruptcy court protection as soon as this week, though no decision has been made, the report said, citing people familiar with the matter. On Sunday, the third-biggest U.S. trucking company averted a threatened strike by 22,000 Teamsters-represented workers after compensating more than $50 million it owed in worker benefits and pension accruals. In 2020, the Donald Trump led government rescued the company with a $700 million pandemic relief loan in exchange for a 30% stake. Reporting by Urvi Dugar and Mrinmay Dey in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Urvi Dugar, Mrinmay Dey, Arun Koyyur Organizations: Wall Street, Reuters, U.S, Teamsters, Walmart, Uber, Thomson Locations: U.S, Bengaluru

☆ Strike at trucking firm Yellow averted after deal
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: +2 min

July 23 (Reuters) - U.S. trucking firm Yellow (YELL.O) averted a threatened strike by 22,000 Teamsters-represented workers on Sunday, saying the company will pay the more than $50 million it owed in worker benefits and pension accruals. Yellow is the third-biggest U.S. trucking company specializing in the less-than-truckload segment that combines shipments from different customers in the same trailer. Competitors, who are grappling with a sharp drop in freight volume, are expected to cherry-pick the company's customers, trucking experts and analysts said. It has successfully won such concessions in the past, but this time was rebuffed by new Teamsters General President Sean O'Brien. A federal judge in Kansas on Friday rejected Yellow's request to block the Teamsters from striking over the delinquent benefit payments.

Persons: Donald Trump, Sean O'Brien, O'Brien, O’Brien, Yellow's, Lisa Baertlein, Ananta Agarwal, Mrinmay Dey, Diane Craft, Chris Reese Organizations: Teamsters, Central, U.S, Walmart, Uber, Apollo Global Management, . Company, International Brotherhood of Teamsters, United Parcel Service, Thomson Locations: U.S, Central States, Nashville , Tennessee, Kansas, Los Angeles, Bengaluru

☆ Cramer's Lightning Round: Get rid of ADT
▼ + stars: | 2023-06-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Cummins' year-to-date stock portfolio. Stock Chart Icon Stock chart icon Simon Property Group's year-to-date stock performance. Stock Chart Icon Stock chart icon ADT's year-to-date stock performance. Stock Chart Icon Stock chart icon Abbvie's year-to-date stock performance. Stock Chart Icon Stock chart icon Evergy's year-to-date stock performance.

Persons: Cummins, Simon, it's, Abbvie's, Marten Transport's, Marten, I've, Jim Cramer's Organizations: Cummins, Simon Property, Realty, 3M, Trucking, Energy Solutions, Atlas Energy Solutions

☆ Why ChatGPT could spark a new bull market
▼ + stars: | 2023-05-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Phil Rosen here, still poking around OpenAI's new ChatGPT iPhone app. The rise of ChatGPT and subsequent AI boom could solidify the recent strength in stocks as a new bull market, according to market veteran Ed Yardeni. In a recent note, the strategist said equities' strong start to the year isn't just a bear market rally, but that it indeed marks a new bull regime. If the Fed mistakenly pauses and then resumes hiking as inflation persists, the music could stop for high flying AI stocks. Mega-cap tech stocks are "overbought" and their rally could stall out soon.

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ More women become truckers as the industry tries to overcome a shortage of drivers
▼ + stars: | 2023-03-25 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +10 min

She's one of many in the trucking industry leading efforts to bring more women into the fold. Associations like Women In Trucking work to increase the rate of women drivers, technicians and executives, particularly younger women or those switching careers, like Johnson. Now, with the industry facing a daunting driver shortage, initiatives to bring in women drivers from other industries have escalated. The share of women truckers has increased significantly in recent years: Women now make up almost 8% of truck drivers and sales delivery drivers, according to the U.S. Bureau of Labor Statistics. Navigating shortagesThough many women joined the industry during the pandemic, Covid-19 lockdowns stalled training and testing for truck drivers.

☆ This little-known fintech stock could emerge as an industry leader and gain nearly 20%, Loop Capital says
▼ + stars: | 2023-02-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Triumph Financial is a "new fintech leader in payments" that the market is underappreciating, according to Loop Capital. The firm initiated coverage of Triumph with a buy rating and a price target of $76 per share. This, along with its emerging open loop payment platform, TriumphPay, makes the company unique, according to Goetsch. TriumphPay connects brokers, factoring companies, and carriers in the trucking industry to facilitate payments. To be sure, Goetsch believes the company will not become profitable until 2024, as freight demand slows in 2023.

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