iShares Trust iShares U.S. Transportation ETF (BATS: IYT)

Dernières nouvelles pour iShares Trust iShares U.S. Transportation ETF (BATS:IYT)

iShares Trust iShares U.S. Transportation ETF

iShares Transportation AverageETF

Industrials

Technology

The fund seeks to track the investment results of the Dow Jones Transportation Average Index (the Underlying Index), which measures the performance of large, well-known companies within the transportation sector of the U.S. equity market. The Underlying Index includes large-, mid- and small-capitalization companies and may change over time.

Union Pacific Corp

Uber Technologies Inc

United Parcel Service Inc

Fedex Corp.

Old Dominion Freight Line Inc.

Norfolk Southern Corp.

Csx Corp.

Delta Air Lines Inc.

Expeditors International Of Washington Inc.

Southwest Airlines Co.

iShares US Transportation ETF

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading higher after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41343973/j-b-hunt-transport-services-inc-reports-u-s-gaap-revenues-net-earnings-and-earnings-per-share-for-" rel="noreferrer noopener">reported&nbsp;third-quarter results</a>.
Operating revenue fell 3% Y/Y to $3.07 billion, beating the consensus of $3.02 billion. Revenue declined mainly due to a 5% Y/Y drop in gross revenue per load in Intermodal (JBI) and a 6% Y/Y decrease in Truckload (JBT).
Additionally, load volumes fell by 10% in Integrated Capacity Solutions (ICS) and 6% in Dedicated Contract Services (DCS), along with 6% fewer stops in Final Mile Services (FMS).
Total operating revenue, excluding fuel surcharge revenue, decreased by less than 1% Y/Y in the quarter.
Operating income dipped 7%&nbsp;Y/Y to&nbsp;$224.1&nbsp;million due to decreased revenue across all segments except JBI, along with rising expenses related to personnel, insurance, claims, and equipment.
EPS of&nbsp;$1.49 surpassed <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.47</a>.
As of September 30, the company had cash and cash equivalents of about $120 million.
In the third quarter of 2024, the company repurchased shares worth around $200 million. As of September 30, J.B. Hunt had around $967 million remaining under its share repurchase authorization.
Investors can gain exposure to the stock via&nbsp;IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ESGX#BATS">ESGX</a>).
Price Action: JBHT shares are up 7.12% at $187.09 premarket at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41341168/chipmaker-stocks-sink-on-asml-earnings-leak-oil-eyes-worst-1-day-drop-this-year-small-caps-rally" target="_blank" rel="noreferrer noopener">Chipmaker Stocks Sink On ASML Earnings Leak, Oil Eyes Worst 1-Day Drop This Year, Small Caps Rally: What&#8217;s Driving Markets Tuesday?</a></li>
</ul>

Earnings

Equities

News

Movers

ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF

ESGX

iShares Dow Jones Transportation Average Index Fund

JBHT

Why Is J.B. Hunt Stock Surging Premarket On Wednesday?

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) formed a multiyear partnership to incorporate Avride&#8217;s delivery robots and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41163664/uber-and-avride-announce-autonomous-delivery-and-mobility-partnership" rel="noreferrer noopener"> autonomous vehicles into Uber and Uber Eats</a>.
The delivery partnership will begin with sidewalk robots for Uber Eats in Austin in the coming weeks, followed by expansions to Dallas and Jersey City later this year. The mobility partnership is set to launch for riders in Dallas next year.
Post-launch, consumers requesting a qualifying delivery or ride on the Uber Eats or Uber apps may have the option to use an Avride delivery robot or autonomous vehicle for their trip.
Dara Khosrowshahi, CEO of Uber, stated, &#8220;Autonomous mobility and delivery hold a ton of promise for consumers and communities. We&#8217;re excited to partner with Avride to bring their technology to more people in more places, as they continue to scale.&#8221;
Dmitry Polishchuk, CEO of Avride, said, &#8220;We plan to expand the total fleet of Avride robots operating within Uber Eats to hundreds in 2025, followed by the launch of our robotaxi service.&#8221;
In a separate release, Uber revealed a three-year strategic partnership with tire technology company ENSO to <a target="_blank" href="https://www.uber.com/newsroom/enso/" rel="noreferrer noopener">introduce </a>energy-efficient, low-emission EV tires in the U.K. and the U.S.
Earthshot Prize Finalist, ENSO is a London-born company that makes EV tires that extend EV range and reduce tire pollution. Uber has become a Founding Partner of The Earthshot Prize, founded by HRH Prince William, and will support the climate solutions.
Last month, Uber partnered with Spirit Halloween for on-demand delivery, offering discounts and perks for Uber One <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41070711/uber-secures-5b-revolving-credit-facility-also-teams-up-with-spirit-halloween-for-delivery" rel="noreferrer noopener">members during Halloween season</a>.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are down 0.4% at $72.58 at the last check Thursday.
Photo by yu_photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41157836/teslas-cybercabs-could-be-a-potential-ride-sharing-disruptor-says-analyst-heres-wha" target="_blank" rel="noreferrer noopener">Tesla&#8217;s &#8216;Cybercabs&#8217; Could Be A Potential Ride-Sharing Disruptor, Says Analyst: Here&#8217;s What Investors Can Expect At Oct 10 Robotaxi Event</a></li>
</ul>

Large Cap

Contracts

General

BUYZ

UBER

Uber & Avride Join Forces for Autonomous Delivery; Partners With ENSO For Low-Emission EV Tires

Oppenheimer analyst raised the price target at Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) to $95 (from $90) and <a target="_blank" href="https://www.benzinga.com/quote/UBER/analyst-ratings" rel="noreferrer noopener">maintained an Outperform rating</a>.&nbsp;&nbsp;
The analyst performed a survey that indicates a significant opportunity for restaurant delivery.
The analyst writes that despite economic pressures, 71% of non-users are unaware of savings from monthly subscriptions, highlighting the potential for new user acquisition through better marketing.
Grocery delivery lags behind restaurant delivery by ten percentage points (57% vs. 67%), with 73% preferring in-person shopping.
Based on favorable restaurant delivery trends, the analyst raised the 2025 estimated delivery share gains to 58 basis points, up from the previous 46 basis points.
Consequently, the analyst increased Uber Delivery gross transaction value (GTV) by 2% for 2025 and 2026 to account for greater frequency opportunities and anticipated consumer tailwinds from expected rate cuts in 2025.
Friday, Uber partnered with Spirit Halloween for on-demand delivery, offering discounts and perks for Uber One <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41070711/uber-secures-5b-revolving-credit-facility-also-teams-up-with-spirit-halloween-for-delivery" rel="noreferrer noopener">members during Halloween season</a>.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares closed lower by 1.73% to $75.75 on Friday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41059652/boeing-737-max-jets-face-new-safety-concerns-over-jamming-pedals-as-investigators-point-out-mois" target="_blank" rel="noreferrer noopener">Boeing 737 Max Jets Face New Safety Concerns Over Jamming Pedals As Investigators Point Out Moisture Leakage Risks</a></li>
</ul>
Photo by yu_photo via Shutterstock

Analyst Color

Price Target

Reiteration

Analyst Ratings

Tech

Trading Ideas

This Analyst Sees More Than 25% Upside In Uber Thanks To Increased Food Delivery Penetration

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading slightly higher on Friday following the announcement of the addition of 20 Nikola Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) Tre fuel cell electric vehicles (FCEVs) to enhance sustainability solutions for customers<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41068791/j-b-hunt-adds-20-additional-nikola-fcevs-to-expand-sustainability-solutions-for-customers" rel="noreferrer noopener"> with freight needs along the West Coast.</a>
The Nikola FCEVs will complement the more than 200 alternative-powered vehicles that J.B. Hunt currently operates for its customers, including battery-electric, hydrogen-electric, and renewable natural gas (RNG) vehicles.
&#8220;Zero-emission vehicles such as these will help along the path to generate viable, sustainable options that help customers advance their efforts to reduce carbon emissions,&#8221; &nbsp;said Greer Woodruff, executive vice president of safety, sustainability, and maintenance at J.B. Hunt.
Nikola will provide fueling and infrastructure support through its HYLA brand. According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NKLA stock has lost over 90% in the past year.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40310274/nikola-ceo-steve-girsky-is-not-worried-about-competition-from-tesla-battery-trucks-dont-work-everywh" rel="noreferrer noopener">Nikola CEO Steve Girsky Is Not Worried About Competition From Tesla: &#8216;&#8230;Battery Trucks Don&#8217;t Work Everywhere&#8217;</a>
Earlier, in 2023, J.B. Hunt acquired three Nikola FCEVs that are now supporting dedicated customer operations.
Recently, the company launched a pilot program with Clean Energy featuring the new Cummins X15N engine, which represents the latest advancements in RNG-powered vehicles.
Additionally, J.B. Hunt has helped customers like Daimler Truck North America and Electrolux incorporate alternative-powered vehicles into their operations.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, JBHT stock has lost over 6% in the past year. Investors can gain exposure to the stock via&nbsp;Vesper US Large Cap Short-Term Reversal Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTRN#NYSE">UTRN</a>) and iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Price Action: JBHT shares are trading higher by 1.25% to $173.65 at last check Friday. NKLA shares were up 2.39% to $4.28.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/41068397/tesla-cranks-up-the-heat-in-china-extends-5-year-0-interest-loan-offer-to-oct-31" target="_blank" rel="noreferrer noopener">Tesla Cranks Up The Heat In China, Extends 5-Year, 0% Interest Loan Offer to Oct 31</a></li>
</ul>
Photo via Shutterstock

Markets

NKLA

Vesper US Large Cap Short-Term Reversal Strategy ETF

UTRN

J.B. Hunt Expands Fleet with 20 Nikola EVs: What's Going On?

On Friday, Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) announced it has partnered with Spirit Halloween to enhance<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41065750/uber-eats-partners-with-spirit-halloween-across-north-america" rel="noreferrer noopener"> its on-demand delivery services</a>.
The Spirit Halloween catalog will be accessible on Uber at the same in-store prices.
Uber One members will get a $0 delivery fee and a 5% discount on Spirit Halloween orders over $35. Additionally, all consumers can receive up to 40% off their next Spirit Halloween purchase of $50 or more through Halloween.
Beryl Sanders, Director of U.S. Grocery &amp; Retail partnerships at Uber said, "The holiday season officially kicks off this time of year, and households across the country are looking to on-demand delivery to get what's needed—now,"
"That's one of the reasons we're most excited to bring Spirit Halloween to Uber Eats and our other Uber apps to make costumes and other Halloween must-haves a cinch."
Also, Uber entered into a new $5 billion Credit Agreement with Bank of America, replacing its previous <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1543151/000155278124000539/e24397_uber-8k.htm" target="_blank" rel="noreferrer noopener">2015</a> agreement.
The unsecured revolving loans mature in 2029 and can be drawn in U.S. dollars or other currencies for general corporate purposes.
The loans offer interest options tied to either the term SOFR rate plus a 1% margin or a base rate with no margin.
The commitment fee starts at 0.125% annually, with interest rates and fees fluctuating based on Uber's debt ratings.
The agreement includes standard covenants and default conditions, requiring a minimum EBITDA-to-interest ratio of 3:1. At closing, $413 million in letters of credit were transitioned from the previous agreement, but no funds were borrowed.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are down 1.03% at $75.90 at the last check on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41028705/doordash-positioned-as-clear-market-share-gainer-with-growth-in-grocery-and-ads-ana" target="_blank" rel="noreferrer noopener">DoorDash Positioned As Clear Market Share Gainer With Growth In Grocery And Ads, Analyst Says, Upgrades Stock</a></li>
</ul>
Image Courtesy of Dutchmen Photography via Shutterstock

Financing

Uber Secures $5B Revolving Credit Facility, Also Teams Up With Spirit Halloween for Delivery

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading marginally higher on Wednesday <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">in the premarket session.</a>
Today, the company has finalized a partnership with WeRide, an autonomous driving technology firm, to integrate WeRide&#8217;s self-driving vehicles into the Uber platform, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41020151/weride-and-uber-partner-to-bring-autonomous-vehicles-to-the-uber-platform-beginning-in-the-united-" rel="noreferrer noopener">starting in the United Arab Emirates</a>.
The partnership is gearing up for an exciting launch in Abu Dhabi later this year, featuring a fleet of WeRide&#8217;s autonomous vehicles ready to roll through the Uber app. WeRide currently operates the largest robotaxi fleet in the UAE, where residents can access its robotaxi services through the TXAI app.
However, this bold venture won&#8217;t be expanding to the U.S. or China.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/41020937/us-stocks-may-stall-after-s-p-500-hits-another-record-micron-earnings-meta-connect-on-traders-radar" rel="noreferrer noopener">US Stocks May Stall After S&amp;P 500 Hits Another Record; Micron Earnings, Meta Connect On Traders&#8217; Radar: Why This Strategist Is Optimistic About Q4</a>
Additionally, in July 2023, WeRide received the UAE&#8217;s first and only national license for self-driving vehicles, which permits the testing and operation of its autonomous vehicles on public roads throughout the country.
Earlier this month, Uber inked a multi-year delivery partnership with Darden Restaurants, Inc., <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40935338/darden-and-uber-partner-to-introduce-on-demand-delivery-with-olive-garden-the-first-to-pilot" rel="noreferrer noopener">set to begin with Olive Garden in late 2024.</a>
The agreement will enable restaurant guests to order on-demand delivery via Darden restaurant channels, with delivery handled by Uber Direct, through Uber&#8217;s national delivery network.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBER stock has gained over 72% in the past year. Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are trading higher by 0.59% to $77.90 premarket at last check Wednesday.
Photo by Daniel Fung on Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41018183/did-aping-warren-buffett-and-hedge-fund-managers-bring-success-to-this-ai-powered-etf-that-launc" target="_blank" rel="noreferrer noopener">Did Aping Warren Buffett And Hedge Fund Managers Bring Success To This AI-Powered ETF That Launched Last Week?</a></li>
</ul>

Uber Teams With WeRide For UAE Robotaxi Rollout: Details

A possible strike by thousands of dockworkers at <a href="https://www.benzinga.com/government/24/09/40713418/retailers-plea-for-deal-us-ports-union-start-two-day-talk-in-effort-to-prevent-disruptive-strike">East and Gulf coast ports</a> in October could result in major disruptions in the supply chain of goods coming in and out of the U.S., according to an export on container trade.
The International Longshoremen's Association (ILA), representing more than 85,000 dockworkers, may go on strike on Oct. 1 as the union&#8217;s contract expires on Sept. 30 and negotiations between the ILA and U.S. Maritime Alliance of terminal operators show signs of breaking down, said Christian Roeloffs, CEO of online container leasing platform Container xChange.
&#8220;A strike now appears increasingly likely, threatening to disrupt nearly half of the nation&#8217;s ocean trade,&#8221; he said on Tuesday.
&#8220;The uncertainty is compounded by the fact that the duration of these strikes is unclear — it could be resolved within weeks or drag on for months, as seen with the West Coast strike last year.
&#8220;September is traditionally one of the busiest months for U.S. containerized imports, driven by the peak shipping season as businesses prepare for the holiday rush.&#8221;
Read Also: <a href="https://www.benzinga.com/news/global/24/08/40451543/transatlantic-container-shipping-volumes-rise-as-possible-strike-at-u-s-ports-hovers">Transatlantic Container Shipping Volumes Rise As Possible Strike At U.S. Ports Hovers</a>
But it isn&#8217;t just a strike that threatens to disrupt the shipment of goods for the retail, automotive and other sectors, he said.
&#8220;This year presents an unprecedented combination of challenges that could heavily impact supply chains. Potential labor strikes, natural disasters, and tariff uncertainties are converging, creating a highly volatile environment for global trade,&#8221; he said. 
&#8220;This also led to the pulling forward of orders by retailers, which led to strong inventories in the U.S.&#8221;
A strike could also cause havoc for container leasing and trading companies by causing major delays, port congestion and rerouted cargo, Roeloffs said.
"Companies should anticipate short-term spikes in demand for leased containers as retailers rush to secure goods ahead of potential disruptions, particularly for seasonal inventory and industrial shipments," he said.
&#8220;While the threat of strikes looms large, it's important to note that U.S. inventories are currently strong due to the pulling forward of orders earlier this year to avoid existing disruptions. 
The retail, automotive and semiconductor industries, all of which could be impacted by a port strike, saw gains and losses into Tuesday&#8217;s mid-day trading.
<h1 class="wp-block-heading">Retail</h1>
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) fell 1.18% to $79.61</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) slipped 0.26% to $152.45</li>
<li>Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) gained 0.89% to $385.42</li>
</ul>
<h1 class="wp-block-heading">Automotive</h1>
<ul>
<li>Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) gained 1.30% to $10.94</li>
<li>General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) picked up 1.59% to $47.62</li>
<li>Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) slipped 0.18% to $15.16</li>
</ul>
<h1 class="wp-block-heading">Semiconductor</h1>
<ul>
<li>Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) fell 0.43% to $168.35</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) declined 0.87% to $162.59</li>
<li>Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) rose 1.13% to $68.50</li>
</ul>
<h1 class="wp-block-heading">Indexes that follow the retail and automotive sectors trended upward</h1>
<ul>
<li>Dow Jones Transportation Average, which is tracked by the iShares Transportation Average ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>), rose 1.2% to 16,032.91 points</li>
<li>S&amp;P Retail Select Industry Index, which is tracked by the SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>), gained 1.4% to 10,375.45 points</li>
<li>S&amp;P 500 Automobiles &amp; Components Index&nbsp;rose 2.7% to 130.02 points. There is no exchanmge-traded fund that closely follows this index, but First Trust S-Network Future Vehicles &amp; Tech ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARZ#NASDAQ">CARZ</a>) provides broad exposure to global automobile manufacturers and related companies, including those in the S&amp;P 500 Automobiles &amp; Components Index.</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/news/global/24/08/40497103/strikes-at-us-ports-canadas-railways-may-cause-container-freight-rate-volatility">Strikes At US Ports, Canada&#8217;s Railways May Cause Container Freight Rate Volatility</a></li>
</ul>
Photo: Shutterstock

ETFs

AVGO

CARZ

QCOM

STLA

US Port Strike In October Could Lead To Major Supply-Chain Disruptions, Says Container Trade Expert

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading higher after the company and Waymo announced an expansion of their partnership, bringing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40853393/uber-and-waymo-expand-partnership-to-bring-autonomous-ride-hailing-to-austin-and-atlanta" rel="noreferrer noopener">autonomous ride-hailing to Austin and Atlanta.</a>
Starting early in 2025, Waymo and Uber will exclusively introduce autonomous ride-hailing services in Austin and Atlanta through the Uber app. This collaboration will see Uber managing and dispatching a fleet of Waymo&#8217;s fully autonomous, all-electric Jaguar I-PACE vehicles, which will eventually number in the hundreds.
Waymo is an autonomous driving technology company serving over two million rider-only trips across 13+ U.S. states.
Uber riders requesting services like UberX, Uber Green, Uber Comfort, or Uber Comfort Electric may be matched with a Waymo vehicle for eligible trips.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBER stock has gained over 41% in the past year. Investors can gain exposure to the stock via&nbsp;iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40651094/uber-reaffirms-commitment-to-south-korean-market-report" rel="noreferrer noopener">Uber Reaffirms Commitment To South Korean Market: Report</a>
&#8220;We&#8217;re thrilled to build on our successful partnership with Waymo, which has already powered fully autonomous trips for tens of thousands of riders in Phoenix,&#8221; said Uber CEO Dara Khosrowshahi.
As part of this expanded partnership, Uber will handle fleet management tasks such as vehicle cleaning, repairs, and general depot operations. Meanwhile, Waymo will remain in charge of testing and operating the Waymo Driver, as well as providing roadside assistance and specific rider support functions.
&#8220;We&#8217;ve been delighted at the positive feedback from our Waymo One riders to date, and we can&#8217;t wait to bring the comfort, convenience, and safety of the Waymo Driver to these cities in partnership with Uber,&#8221; said Tekedra Mawakana, co-CEO, Waymo.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Price Action: UBER shares are trading higher by 5.76% to $72.01 at last check Friday.
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</ul>
Image: Shutterstock

Uber Stock Spikes As CEO Praises Waymo's 'Fully Autonomous Trips'

BofA Securities analyst Ken Hoexter reiterated the Buy rating on Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>),<a target="_blank" href="https://www.benzinga.com/quote/NSC/analyst-ratings" rel="noreferrer noopener"> with a price objective of $259.</a>
Norfolk Southern has appointed Mark George as President &amp; CEO, replacing Alan Shaw, who was terminated for violating company policies. The board&#8217;s decision follows an investigation revealing Shaw&#8217;s inappropriate relationship with the <a target="_blank" href="https://www.benzinga.com//node/40771818" rel="noreferrer noopener">company&#8217;s Chief Legal Officer.</a>
Norfolk Southern has reaffirmed its 2024 targets, aiming for a 66% full-year operating ratio with a 64% &#8211; 65% target for the second half. New CEO Mark George, alongside COO John Orr, will focus on enhancing operational efficiency and closing the margin gap with peers, the analyst writes.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40791962/norfolk-southern-ceo-alan-shaws-controversial-tenure-close-to-end-amid-ethics-scandal-wsj" rel="noreferrer noopener">Norfolk Southern CEO Alan Shaw&#8217;s Controversial Tenure Close To End Amid Ethics Scandal: WSJ</a>
Hoexter&#8217;s price objective is based on 19x the FY25 EPS estimate. The target multiple is above its 12x-18x range as it moves past its 2023- 2024 earnings trough.
Per the analyst, the company is set to accelerate earnings gains given its productivity improvements and focuses on volume gains and accelerating yields.
The analyst notes that the management transition will be seamless as COO Orr continues the operational overhaul and new CEO George provides continuity and highlights the firm&#8217;s management depth. The analyst&#8217;s estimate for FY25 EPS stands at $13.60 per share.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NSC stock has gained over 28% in the past year. Investors can gain exposure to the stock via&nbsp;iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Tidal ETF Trust Aztlan North America Nearshoring Stock Selection ETF (NRSH).
Price Action: NSC shares are trading higher by 0.31% to $254.55 on Thursday.
Photo via Shutterstock
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</ul>

Norfolk Southern To See Volume Gains Amid Productivity Improvements Despite Management Churn: Analyst

On Wednesday, United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) announced that its pickup and delivery services in the southern U.S., particularly Louisiana, may be affected due to Hurricane Francine.
The company <a target="_blank" href="https://www.ups.com/us/en/service-alerts.page" rel="noreferrer noopener">stated</a>, &#8220;Contingency plans are in place to help ensure that shipments arrive at their final destinations as quickly as possible.&#8221;
On Tuesday night, Francine intensified into a hurricane, leading Louisiana <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40814667/exxon-other-us-oil-majors-brace-for-tropical-storm-francine-report" rel="noreferrer noopener">residents to evacuate inland</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39941461/ups-analysts-cut-outlook-after-parcel-giant-misses-revenue-estimate" rel="noreferrer noopener">UPS Analysts Cut Outlook After Parcel Giant Misses Revenue Estimate: &#8216;Market Still In Recovery Mode&#8217;</a>
On Wednesday, the storm&#8217;s northern eyewall was about 95 miles southwest of Morgan City, Louisiana, at 2 p.m. ET. NBC News reported sustained wind speeds of 90 miles per hour as it <a target="_blank" href="https://www.benzinga.com/government/24/09/40822108/hurricane-francine-approaches-louisiana-coast-may-become-category-2-storm" rel="noreferrer noopener">moves northeast at 16 miles per hour</a>.
President&nbsp;Joe Biden approved an emergency declaration for Louisiana, making federal disaster assistance available to the state, the Federal Emergency Management Agency said Wednesday.
Several oil companies shut down their refineries on the Louisiana coast this week.
This week, UPS agreed to acquire Frigo-Trans and its sister company BPL to boost end-to-end capabilities for temperature-sensitive and time-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40788641/ups-bolsters-healthcare-logistics-capabilities-with-cold-chain-acquisitions" rel="noreferrer noopener">critical healthcare logistics across Europe</a>.
Investors can gain exposure to the stock via&nbsp;iShares Trust iShares U.S. Transportation ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>)&nbsp;and First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>).
Price Action: UPS shares are down 0.36% at $128.04 at the last check Thursday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

FTXR

Hurricane Disrupts UPS Deliveries In Southern US: Details

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading slightly higher premarket today. The company&#8217;s CEO reportedly reaffirmed the company&#8217;s commitment to the South Korean market, which trails behind local tech group Kakao.
He emphasized that Uber will focus on attracting more taxi drivers to fuel growth in the region, reported Reuters.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40625596/uber-pumps-capital-into-nvidia-backed-wayves-series-c-funding-round" rel="noreferrer noopener">Uber Pumps Capital Into Nvidia-Backed Wayve&#8217;s Series C Funding Round</a>
Kakao holds over 90% of the taxi-hailing market in South Korea, based on app usage data.
Uber CEO Dara Khosrowshahi told reporters in Seoul, &#8220;The fact is that a taxi driver who uses the Uber app will make more money, will be more busy.&#8221;
&#8220;We are growing significantly faster than the market, and we&#8217;re confident that our market share will only grow from here.&#8221;
Uber initially entered the South Korean market in 2013 but withdrew due to regulations permitting only taxi-licensed companies to offer ride services.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40621232/uber-ceo-dara-khosrowshahi-visits-byd-hq-in-china-to-discuss-onboarding-100k-byd-evs-on-the-ride-hai" rel="noreferrer noopener">Uber CEO Dara Khosrowshahi Visits BYD HQ In China To Discuss Onboarding 100K BYD EVs On The Ride-Hailing Platform</a>
In 2021, Uber re-entered the market by forming a joint venture with South Korea&#8217;s second-largest conglomerate, SK Group, named UT. In March this year, UT&#8217;s taxi-hailing service was rebranded as Uber Taxi.
This month, Uber and Cruise stated that it will begin offering autonomous rides next year in the U.S. using<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40533011/ubers-partnership-with-gms-cruise-shines-light-on-future-business-model-for-autonom" rel="noreferrer noopener"> part of Cruise&#8217;s 1,200 unit fleet</a>.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are up 0.50% at $72.59 premarket at the last check Friday.
Image via Shutterstock
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

Uber Reaffirms Commitment To South Korean Market: Report

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)&nbsp;has reportedly employed former Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Rebecca Tinucci to supervise the<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> ride-hailing platform&#8217;s transition to electric vehicles.</a>
Tinucci will begin on September 16 as the global head of sustainability, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-20/uber-hires-ex-tesla-charger-executive-to-oversee-shift-to-evs?sref=TBDibEcD" rel="noreferrer noopener">reported</a> Bloomberg, citing an internal company announcement.
At Tesla, Tinucci supervised the 500-person Supercharging team — a division that Chief Executive Officer&nbsp;Elon Musk slashed&nbsp;as part of broader job cuts after a dull first quarter.
In the new role, Tinucci will lead Uber&#8217;s shift to a zero-emissions platform. The company aims to make all rides and deliveries worldwide zero-emission by 2040 and is also focused on reducing plastic waste from restaurant deliveries and adopting more sustainable packaging.
Tinucci will report to Andrew Macdonald, the senior executive overseeing the company&#8217;s ride-hailing business.
Tinucci&#8217;s experience &#8220;will be an incredible asset to our team at Uber,&#8221; Macdonald said in the email to employees, Bloomberg added.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40447709/ubers-cost-cuts-may-be-working-s-p-global-upgrades-credit-rating-as-stock-soars-25-in-2-weeks" rel="noreferrer noopener">Uber&#8217;s Cost Cuts May Be Working: S&amp;P Global Upgrades Credit Rating As Stock Soars 25% In 2 Weeks</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBER stock has gained over 64% in the past year. Investors can gain exposure to the stock via&nbsp;iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
At Tesla, Tinucci played a key role in securing charging-station agreements with automakers like Rivian Automotive, Ford Motor Company, and General Motors Company, per the report.
These partnerships enabled thousands of drivers to access Tesla&#8217;s previously exclusive Supercharger network, broadening the company&#8217;s revenue stream.
Price Action: UBER shares are trading lower by 0.73% to $73.64 at last check Tuesday.
Image via Shutterstock
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</ul>

Management

RIVN

TSLA

Uber Hires Tesla Veteran Who Was Previously Laid Off By Elon Musk: Report

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) announced a multi-year strategic partnership to add 100,000 new BYD electric vehicles to the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40063539/uber-and-byd-partner-to-accelerate-global-ev-transition" rel="noreferrer noopener">Uber platform in key global markets</a>.
Starting in Europe and Latin America, the partnership will provide drivers with competitive pricing and financing for BYD vehicles on the Uber platform and will later expand to the Middle East, Canada, Australia, and New Zealand.
The companies aim to lower the total cost of EV ownership for Uber drivers, boost global EV adoption on the Uber platform, and provide millions of riders with greener transportation options.
The partnership may include discounts on charging, maintenance, and insurance to aid Uber drivers in switching to electric vehicles and offer tailored financing and lease options based on market needs. The companies will also work together on future BYD autonomous-capable vehicles for the Uber platform.
Dara Khosrowshahi, CEO of Uber, said, &#8220;When an Uber driver makes the switch to an EV, they can deliver up to four times the emissions benefits compared to a regular motorist, simply because they are on the road more. Many riders also tell us their first experience with an EV is on an Uber trip, and we&#8217;re excited to help demonstrate the benefits of EVs to more people around the world.&#8221;
Last week, the California Supreme Court&nbsp;upheld&nbsp;Proposition 22, affirming the decision for the rideshare companies to consider drivers <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39989086/whats-going-on-with-uber-technologies-shares-today" rel="noreferrer noopener">as independent contractors</a>.
UBER stock rose over&nbsp;30%&nbsp;in the last twelve months. Investors can gain exposure to the stock via&nbsp;IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are up 2.69% at $64.79 at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

BYDDY

Uber And BYD Team Up For Electric Future,100K EVs To Hit The Road

Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) shares are trading higher after the company reported second-quarter financial results yesterday, and several <a target="_blank" href="https://www.benzinga.com/quote/NSC/analyst-ratings" rel="noreferrer noopener">analysts revised their price target</a>.
On Thursday, the company reported railway operating revenue of $3 billion, up 2% Y/Y, and delivered adjusted earnings of $3.06 per share, beating <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39971341/norfolk-southern-stock-surges-on-q2-earnings-the-details" rel="noreferrer noopener">analyst&nbsp;estimates&nbsp;of $2.86 per share</a>.
RBC Capital Markets analyst Walter Spracklin lowered the price target to $267 (from $270) and reiterated the Outperform rating.
Building on John Orr and the operating team&#8217;s progress, NSC has reaffirmed its 2024 guidance of a 66% Operating Ratio, aligning with the consensus estimate of 66.4%.
The analyst expects the company to reach an industry-average O/R of the mid-to-high 50s by 2027, which is crucial to their positive investment outlook.
While management hasn&#8217;t set a specific 2027 target, their guidance indicates $250 million in productivity savings within the first six months of productivity drive, $400 million in 1-2 years, and $550 million in 2-3 years, writes the analyst.
The management anticipates progress toward a sub-60% O/R in the first 1-2 years. Although this does not explicitly confirm a sub-60% O/R by 2026 or 57.5% by 2027, Spracklin says these targets are achievable and are not yet reflected in consensus estimates. The analyst reaffirmed the 2024 EPS estimate at $11.83.
Goldman Sachs analyst Jordan Alliger raised the price target to $292 from $280 while maintaining the Buy rating.
The analyst increased the EPS estimates for FY24, FY25, and FY26 due to higher-than-expected EPS results and greater confidence in management&#8217;s ability to drive productivity gains and significant margin improvements.
The analyst expects significant OR improvement in H2 2024, with the potential for up to 400 basis points of margin gains.
The likelihood that the projected 100-150 basis points annual OR improvement may be conservative, particularly if economic recovery boosts growth beyond typical forecasts, writes the analyst.
GS economists anticipate industrial production will rise from +0.6% YoY in 2024 to +3.8% YoY in 2025.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38992144/norfolk-southerns-operational-turnaround-to-drive-over-20-eps-growth-through-2027-a" rel="noreferrer noopener">Norfolk Southern&#8217;s Operational Turnaround To Drive Over 20% EPS Growth Through 2027, Analyst Says</a>
Stifel raised the price target to $241 from $239 and maintained a Hold rating.
Wells Fargo increased the price target to $270 from $260 and reiterated an Overweight rating.
Investors can gain exposure to the stock via IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and Tidal ETF Trust Aztlan North America Nearshoring Stock Selection ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRSH#NYSE">NRSH</a>).
Price Action: NSC shares are trading higher by 11.2% to $247.91 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

NRSH

Norfolk Southern Poised for Long-Term Efficiency, Analyst Projects Improved Operating Ratios

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading lower today. On Thursday, the California Supreme Court <a href="https://www.uber.com/newsroom/prop-22-upheld/" target="_blank" rel="noreferrer noopener">upheld </a>Proposition 22, affirming the decision for the rideshare companies to consider drivers as independent contractors.
In November 2020, California voters approved Proposition 22, a statewide ballot measure that protected the ability of app-based rideshare and food delivery drivers to work as independent contractors with access to guaranteed earnings and new benefits. As independent contractors, drivers maintain control over when, where and how long they work.
Since its enactment, Prop 22 has benefitted millions of drivers and couriers on platforms like Uber, which has provided over $1 billion in direct benefits.
The California Supreme Court&#8217;s ruling is a significant win for the ride-hailing industry, which argued that requiring companies to classify drivers as employees could lead to service cutbacks or termination in the state, reported Reuters.
Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39681081/ubers-hong-kong-operations-in-limbo-as-government-plans-regulation-for-ride-hailing-services" rel="noreferrer noopener">Uber&#8217;s Hong Kong Operations In Limbo As Government Plans Regulation For Ride-Hailing Services</a>
The court rejected a lawsuit from the Service Employees International Union (SEIU) and four drivers challenging the constitutionality of Proposition 22. This 2020 measure maintains drivers&#8217; contractor status while offering some benefits.
Uber said the ruling upheld &#8220;the will of the nearly 10 million Californians who voted to deliver historic benefits and protections to drivers, while protecting their independence.&#8221;
Earlier in the month, Uber introduced&nbsp;new nautical experiences designed to enhance tourists&#8217; adventures across Europe. Among these offerings is&nbsp;Uber Yacht, which will debut in Ibiza this August and provide an <a target="_blank" href="https://www.benzinga.com/news/24/07/39602700/ubers-latest-wave-launches-luxury-yacht-and-boat-rides-across-european-destinations" rel="noreferrer noopener">affordable luxury yacht experience</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39779775/uber-loses-vat-lawsuit-for-rivals-outside-london" rel="noreferrer noopener">Uber Loses VAT Lawsuit For Rivals Outside London</a>
UBER stock rose around 38% in the last twelve months. Investors can gain exposure to the stock via IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are down 0.89% at $65.16 at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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</ul>

Legal

What's Going On With Uber Technologies Shares Today?

FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) shares are trading lower after the company experienced <a target="_blank" href="https://www.fedex.com/en-us/service-alerts.html?cmp=EMC-1002168-1-1-200-1111110-GLBL-US-EN-SRDISRUPT071924" rel="noreferrer noopener">disruptions </a>across its networks due to a global IT outage caused by a software vendor on Friday.
This widespread tech outage has affected multiple industries, including airlines, broadcasters, banking, and healthcare, creating substantial operational challenges.
It remains unclear if FedEx's network disruptions are linked to the outages at Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), reported Reuters.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat" rel="noreferrer noopener">Windows PCs Crash Worldwide With Users Experiencing Blue Screen Of Death Issue, CrowdStrike Confirms Defect: &#8216;Fix Has Been Deployed&#8217; (UPDATED)</a>
FedEx said it &#8220;has activated contingency plans to mitigate impacts from a global IT outage experienced by a third party software vendor. However, potential delays are possible for package deliveries with a commitment of July 19, 2024.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39579791/is-fedex-spying-on-you-civil-rights-analyst-calls-ai-surveillance-program-profoundly-disconcerting" rel="noreferrer noopener">Is FedEx Spying On You? Civil Rights Analyst Calls AI Surveillance Program &#8216;Profoundly Disconcerting&#8217;</a>
FedEx is not the only logistics company facing challenges. Peer company United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) also warned of possible delivery delays, citing contingency plans to address the issues, the report added.
Additionally, railroad operator Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) <a target="_blank" href="https://www.up.com/index.htm" rel="noreferrer noopener">reported </a>that the CrowdStrike software outage had &#8220;varying levels of impact&#8221; across its network, though backup protocols have assisted in maintaining communication with teams and dispatchers.
The global tech outage on Friday disrupted operations in various sectors, causing airlines to halt flights, broadcasters to go off-air, and impacting banking and healthcare systems.
Also See: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39853528/microsoft-cloud-outage-grounds-flights-disrupts-operations-of-frontier-allegiant-and-sun-country" rel="noreferrer noopener">Microsoft Outage Wreaks Havoc On World As 911, International Airlines, Banks And Airport Services Disrupted (UPDATED)</a>
FedEx stock has gained about 17% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>).
Price Action: FDX shares are trading lower by 0.54% at $304.95 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/39509568" target="_blank" rel="noreferrer noopener">FedEx Q4 Results &#8216;Solid,&#8217; 2025 Guidance &#8216;Appropriate,&#8217; Freight Spinoff &#8216;Tantalizing Opportunity For Investors&#8217;: 7 Analysts Size Up Results, What&#8217;s Next</a></li>
</ul>

CRWD

MSFT

Why Is Logistics Giant FedEx's Stock Trading Lower Today?

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading lower after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39803406/j-b-hunt-transport-services-inc-reports-u-s-gaap-revenues-net-earnings-and-earnings-per-share-for-" rel="noreferrer noopener">second-quarter&nbsp;2024 results</a>.
Operating revenue fell&nbsp;7%&nbsp;Y/Y to&nbsp;$2.93 billion, missing the consensus of&nbsp;$3.05 billion.
Revenue declined mainly due to a 5% drop in gross revenue per load in Intermodal (JBI), coupled with decreased load volumes: 25% in Integrated Capacity Solutions (ICS), 9% in Truckload (JBT), and 9% in Dedicated Contract Services (DCS).
Meanwhile, the Final Mile Services (FMS) segment saw a 5% revenue growth, driven by new contracts implemented over the past year, alongside a 5% increase in revenue per load in ICS.
Total operating revenue, excluding fuel surcharge revenue, decreased by around&nbsp;6%&nbsp;Y/Y in the quarter.
Operating income decreased 24% Y/Y to $205.7 million&nbsp;due to reduced revenue and increased expenses in insurance and claims, equipment, and certain personnel costs.
EPS of&nbsp;$1.32&nbsp;missed&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.57</a>.
As of June 30, 2024, the company had cash and cash equivalents of&nbsp;about $54 million.
In the&nbsp;second quarter&nbsp;of 2024, the company repurchased shares worth&nbsp;$203 million. As of June-end, J.B. Hunt had around&nbsp;$163 million&nbsp;remaining under its share repurchase authorization.
Investors can gain exposure to the stock via&nbsp;IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>).
Price Action: JBHT shares are down&nbsp;3.41%&nbsp;at&nbsp;$170.00&nbsp;premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Why J.B. Hunt Transport Services Shares Are Falling Today

In June, a Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39553077/southwest-airlines-faces-scrutiny-over-recent-closed-runway-takeoff-report" rel="noreferrer noopener">flight took off from a closed runway</a>, prompting investigations from U.S. safety officials.
The crew overlooked a crucial notice about the runway closure, as stated in a preliminary report by the National Transportation Safety Board (NTSB), Bloomberg reports.
The incident occurred on June 25, when Flight 4805 departed from the closed runway at Portland International Jetport in Maine just before 5:45 a.m.
The crew had reviewed an electronic weather packet containing 32 notices to air missions (NOTAMs) before the flight.
While they noticed a warning about runway 29 closures on weekends, they missed a separate notice about closures on other days.
They also failed to see a message detailing procedures for all flights departing before 5:45 a.m., reported <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-15/southwest-pilots-missed-key-notice-before-closed-runway-takeoff?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
Despite the oversight, the plane, carrying 136 passengers and crew, arrived safely in Baltimore.
However, the serious nature of the incident caught the attention of both the NTSB and the Federal Aviation Administration (FAA), which are investigating the event.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39503499/faa-issues-new-safety-directive-for-boeing-757-200-over-cracking-concerns" rel="noreferrer noopener">FAA Issues New Safety Directive For Boeing 757-200 Over Cracking Concerns</a>
The crew reported receiving information from software applications that indicated the runway was open. The first officer announced their intention to use runway 29 multiple times on the universal communication frequency.
Portland&#8217;s air traffic control tower was closed at the time of departure, so the pilots communicated with the Boston Air Route Traffic Control Center.
They received clearance and flight instructions from Boston. Before takeoff, the pilots saw a truck exit the runway and ensured it was clear before applying power.
A spokesperson for Southwest Airlines told Bloomberg, &#8220;We are addressing the matter through our safety management system and continuing to participate in the ongoing investigation.&#8221; The airline is working closely with investigators to understand how the oversight occurred and to prevent future incidents.
Southwest&nbsp;stock has lost more than 19% in the last 12 months. Investors can gain exposure to the stock via&nbsp;U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39333229/southwest-airlines-boeing-737-max-encounters-dutch-roll-mid-flight-prompting-faa-investigation" target="_blank" rel="noreferrer noopener">Southwest Airlines Boeing 737 Max Encounters &#8216;Dutch Roll&#8217; Mid-Flight, Prompting FAA Investigation</a></li>
</ul>
Price Action: LUV shares were trading higher by 2.67% at $28.45 at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Regulations

JETS

Southwest Pilots Failed To Review Runway Closure Notice Before Takeoff, Preliminary Investigation Report Says

Uber Technologies Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) competitors in the taxi industry will not face a 20% VAT charge on their profit margins outside of London following a court ruling on Monday that overturned a previous decision.
The Court of Appeal reversed the ruling that private-hire operators enter into a contract with passengers, sparing them from the value-added tax (VAT) obligations.
The original case was initiated by Uber after a 2021 Supreme Court decision classified its drivers as workers, affecting Uber's tax obligations, Reuters reports.
Uber sought to establish that private-hire taxi operators enter into contracts with passengers, which London's High Court affirmed last year.
This decision imposed a 20% VAT on operators. However, the Court of Appeal's reversal came after challenges from Delta Taxis and Veezu, who argued against the tax imposition.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39681081/ubers-hong-kong-operations-in-limbo-as-government-plans-regulation-for-ride-hailing-services" rel="noreferrer noopener">Uber's Hong Kong Operations In Limbo As Government Plans Regulation For Ride-Hailing Services</a>
Delta's lawyer, Layla Barke-Jones from Aaron &amp; Partners, hailed the ruling as "a victory for the taxi industry and all those who depend on it."
She emphasized that avoiding the VAT imposition would protect passengers and taxi firms outside London from additional financial burdens.
An Uber spokesperson said the company would review the judgment and consider further steps. The spokesperson also highlighted the inconsistency in requirements for operators between London and the rest of England and Wales.
UBER stock has gained more than 58% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and Fidelity Electric Vehicles And Future Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FDRV#BATS">FDRV</a>).
Price Action: UBER shares are trading lower by 0.39% at $72.15 at the last check on Monday.
Read Next:
<a target="_blank" href="https://www.benzinga.com/news/24/07/39602700/ubers-latest-wave-launches-luxury-yacht-and-boat-rides-across-european-destinations" rel="noreferrer noopener">Uber's Latest Wave: Launches Luxury Yacht And Boat Rides Across European Destinations</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Eurozone

Fidelity Electric Vehicles and Future Transportation ETF

FDRV

Uber Loses VAT Lawsuit For Rivals Outside London

United Airlines Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) shares are <a href="https://www.benzinga.com/quote/UAL">trading higher today</a>.
The air carrier has introduced a new feature to enhance customer communication during weather delays by texting customers links to local, live radar maps, to provide travelers with <a href="https://www.benzinga.com/pressreleases/24/07/n39615502/united-now-texts-live-radar-maps-and-uses-ai-to-keep-travelers-informed-during-weather-delays">real-time information about their trips</a>. 
For the past few years, United has used dedicated teams to send near-instantaneous flight details, now enhanced with generative artificial intelligence (gen AI) tools to improve real-time updates during flight delays.
United&#8217;s latest innovation helps customers understand how weather in one part of the country can impact flights elsewhere. 
United is the first U.S. airline to provide these specific messages, utilizing gen AI tools to send them. 
&#8220;With more people traveling this summer than ever, we wanted to give our customers an easier way to stay connected to real-time information about their flight and texting was the simplest solution,&#8221; said Jason Birnbaum, United&#8217;s Chief Information Officer.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/06/39429641/united-airlines-flight-emergency-landing-adds-to-string-of-safety-incidents-report">United Airlines Flight Emergency Landing Adds To String Of Safety Incidents: Report</a>
The real-time radar maps feature allows customers to stay informed on weather-related delays, showing weather details across flight paths. 
Customers can access these maps through links in text messages or the United app under flight status updates. A
These efforts aim to improve the travel experience and provide customers with more control and information about their flights.
United anticipates its busiest Fourth of July weekend on record, with over five million passengers flying between June 28 and July 8, a 7% increase compared to last year. 
United Airlines stock has lost over 12% in the last 12 months.&nbsp;Investors can&nbsp;gain access to&nbsp;the stock via&nbsp;U.S.&nbsp;Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Price Action: UAL shares are trading higher by 0.29% at $48.31 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39597632/spirit-aerosystems-ceo-a-candidate-to-lead-boeing-investors-focus-on-top-post">Spirit AeroSystems CEO A Candidate To Lead Boeing? Investors Focus On Top Post</a></li>
</ul>

What's Going On With United Airlines' Shares On Wednesday?

IYT: Industrials Dashboard For September

Resilient U.S. Retail Sales Suggests Fed Decision Will Be A Coin Toss

U.S. weekly rail traffic rises 6.8% year-over-year

FedEx sends a shiver throughout the transportation and logistics sectors with soft guidance

iShares Transportation Average ETF declares quarterly distribution of $0.4401

U.S. weekly rail traffic rises 6% year-over-year

Stocks to watch amid the threat of a major East Coast port strike this week

Port strikes are expected to affect almost half a percentage point of GDP in 4Q

U.S. weekly rail traffic falls 2.5% year-over-year

The ultimate technical pattern that represents indecision is when by midweek, the price range remains stuck inside the trading pattern of the week prior.

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