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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
ArcBest CEO Judy McReynolds goes one-on-one with Jim Cramer
  + stars: | 2024-05-06 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
ArcBest CEO Judy McReynolds goes one-on-one with Jim CramerArcBest chairman, president and CEO Judy McReynolds joins 'Mad Money' host Jim Cramer to talk the state of global freight, quarterly results, the impact of the economic environment and more.
Persons: Judy McReynolds, Jim Cramer ArcBest, Jim Cramer
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArcBest unveils new autonomous tool for freight efficiency and optimizationJudy McReynolds, ArcBest CEO, disucsses the Vaux Smart Autonomy and its impact on supply chain efficiencies.
Persons: ArcBest, Judy McReynolds Organizations: Vaux Smart Autonomy Locations: Vaux
The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.
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JPMorgan upgrades Dollar Tree to overweight from neutral JPMorgan said in its upgrade of the stock that it's a "self-help" story. Bernstein upgrades Hershey to outperform from market perform Bernstein said in its upgrade of the chocolate maker that market share trends are improving. " Goldman Sachs reiterates Nvidia & Micron as buys Goldman said it's standing by shares of Nvidia and Micron. Bank of America upgrades ZoomInfo to buy from neutral Bank of America said the software company is a "self-help" story. Bernstein reiterates Qualcomm as outperform Bernstein said it's bullish heading into Qualcomm earnings later this week.
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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArcBest CEO Judy McReynolds on operating within a weaker freight environmentJudy McReynolds, CEO of ArcBest, discusses the state of freight and the signals it may be sending about the broader economy.
Persons: Judy McReynolds
ArcBest, he said, took in $529 per shipment in the first quarter, versus $339 at Yellow. Mr. Jindel said Yellow was a laggard “largely because of mismanagement.”Yellow did not respond on Monday to a request to speak about its management record. One company hoping to pick up business from Yellow is Saia, a less-than-truckload company near Atlanta. The company’s stock has more than doubled this year, and is up 25 percent just since the end of June. The trucking industry plays a critical role in the U.S. economy, transporting nearly three-fourths of all freight tonnage in the United States, according to the American Trucking Associations, a trade group.
Persons: Satish Jindel, Jindel, , ” Frederick Holzgrefe Organizations: Yellow’s, SJ Consulting, American Trucking Associations Locations: Atlanta, U.S, United States
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
Companies that pay for workers' health insurance are grappling with how to cover the pricey drugs. Medicare, the federal program that provides health coverage for people 65 and older, doesn't cover weight-loss drugs. ArcBest already has a program to help workers lose weight through behavior changes and nutrition. Krutsch said he wants to build on that, covering the weight-loss drugs Wegovy and Saxenda for employees who aren't able to lose weight without medication. The new weight-loss drugs were in short supply in 2022, and that gave employers time to figure out how to handle them, he said.
ArcBest Rolls Out Technology to Speed Up Freight Loading
  + stars: | 2023-03-01 | by ( Liz Young | ) www.wsj.com   time to read: +5 min
The freight-management system, called Vaux, is a steel-and-aluminum racking system that sits underneath and around cargo inside trailer beds. Warehouse workers can latch a forklift onto the Vaux platform to push freight into a trailer or pull freight out in one move, instead of having to handle pallets individually. ArcBest says loading or unloading a truck using Vaux takes less than five minutes, compared with the traditional process the company says can take 45 minutes. “What our customers have been telling us is that they are really under pressure,” ArcBest Chief Executive Judy McReynolds said. Rival trucking company TFI International Inc. recently disclosed it had taken a 4% stake in ArcBest, prompting speculation TFI is looking to buy ArcBest.
TFI in 2021 became one of the top carriers in the U.S. less-than-truckload sector when it bought United Parcel Service Inc.’s freight business for $800 million. TFI CEO and President Alain Bédard said on the Feb. 6 earnings call that TFI is looking for opportunities to work with ArcBest. TFI executives said they see ways to save money working together with ArcBest, analysts at Cowen wrote in a Feb. 14 note summarizing a meeting they had with TFI management. The Cowen analysts wrote TFI is well placed to take over ArcBest’s unionized workforce because it already works with the Teamsters union at TForce Freight. ArcBest shares are up about 14% since TFI disclosed its stake.
It's time for investors to move to the sidelines on XPO , according to Morgan Stanley. Analyst Ravi Shanker downgraded shares to equal weight from overweight following what he considered a lackluster quarter for the less-than-truckload (LTL) shipping company. While Shanker thinks XPO's valuation is still attractive against its peers, he cut his price target to $43 from $55. The new price target still implies shares can advance another 22% from Friday's closing price of $35.22. XPO shares rose more than 5% this year, after falling 27.6% in 2022.
Photo: Sarah Oden/Associated PressWomen and people of color are being hired into top roles in the logistics industry. United Parcel Service Inc. turned to Carol Tomé, a former finance chief at Home Depot Inc., in 2020 to become chief executive officer. Raj Subramaniam, who is from India, was chosen to succeed FedEx Corp. founder Fred Smith as chief executive earlier this year. Judy McReynolds has been chief executive of ArcBest Corp. , one of the largest trucking companies in the U.S., since 2010. Studies also show there is a big gap in pay across the logistics industry.
Logistics Companies Are Reversing Their Hiring Binge
  + stars: | 2022-11-04 | by ( Liz Young | ) www.wsj.com   time to read: +4 min
The hiring frenzy in logistics driven by pandemic-fueled shopping appears to be cooling off. “We got ahead of ourselves in terms of head count,” said Bob Biesterfeld, chief executive of C.H. Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. Chief Executive Judy McReynolds said the company would now look to get “greater efficiency” from the people it already employs. “We aren’t really hiring other than filling vacancies and whatnot,” Chief Executive Greg Gantt said on an Oct. 26 earnings call.
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