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Crude Oil Closes at Two-Week Low of $53.81
The price of crude oil on the New York Mercantile Exchange fell roughly 4% in trading Wednesday before closing down $2.22 at a two-week low of $53.81, news services reported.
March 23, 2005
TT's Seth Clevenger and Mike Senatore unpack the trends, surprises and shake-ups that define this year's Top 100 for-hire carriers..
Yellow Roadway Says First-Quarter Profits Will Be Strong
Less-than-truckload giant Yellow Roadway Corp. said Wednesday it expected its first-quarter earnings to be “at or above the high end of its previously provided guidance of 80 cents to 90 cents per share.â€
March 23, 2005Covenant Transport Predicts Lower First-Quarter Earnings
Truckload carrier Covenant Transport Inc. said Wednesday its first-quarter earnings would be between breakeven and a loss of 6 cents per share.
March 23, 2005Universal Truckload Services Posts Higher Profits
Truckload carrier Universal Truckload Services said it posted higher profits for the 2004 fourth quarter and year as freight demand remained strong and because the company expanded its network of owner-operators and brokers.
March 22, 2005Union Pacific Updates Earnings Outlook
Union Pacific Corp., the nation's largest railroad, said Tuesday that it increased its 2005 first-quarter earnings guidance to 43 cents to 48 cents per share because revenue was higher than expected.
March 22, 2005Gasoline Price Increase May Cut SUV Sales
Rising gasoline prices could further cut into U.S. sales of sport utility vehicles because they are economically inefficient, according to Bloomberg News..
March 22, 2005Postal Service Asks Permission to Increase Rates
The U.S. Postal Service asked its governing board for permission to increase all rates between 5% and 6%, Bloomberg News reported..
March 22, 2005Fed Raises Interest Rates Quarter-Point
The Federal Reserve on Tuesday unanimously raised the benchmark U.S. interest rate a quarter-point to 2.75%, the highest since October 2001, and again said it would carry out additional increases at a "measured" pace.
March 22, 2005Hub Renames Logistics Unit
Third-party logistics provider Hub Group Inc. said Tuesday that it would rename its Hub Logistics unit to more clearly delineate its logistics products and services from other divisions within Hub Group, including intermodal and highway services..
March 22, 2005Producer Price Index Rises 0.4% in February
The Labor Department said Tuesday its producer price index rose 0.4% in February, while the prices excluding food and energy only rose 0.1%..
March 22, 2005