Swift Suffers in First Quarter as Profits Plunge 84%
Swift Transportation reported profits plunged 84% in the first quarter compared with 2016 as truckload carriers suffered from continued excess capacity and lower contract prices than they had hoped for this year.
April 25, 2017New-Home Sales Unexpectedly Rise to Highest Since July
Purchases of new U.S. homes unexpectedly increased in March to an eight-month high, indicating housing demand remained strong at the start of the spring buying season, Commerce Department data showed April 25.
April 25, 2017Profits at Ryder Fall 32%, Miss Analyst Estimates by 2¢
Ryder System Inc. reported profits fell 32% in the first quarter compared with 2016 after a drop in demand to rent trucks and an overall weak used truck sales market continued into 2017.
April 25, 2017Home Prices in 20 US Cities Accelerate for a Fifth Month
Home prices in 20 U.S. cities accelerated in the year through February for a fifth month, while nationwide property values also picked up, according to S&P CoreLogic Case-Shiller data reported April 25.
April 25, 2017Cost-Cutting Efforts Raise Income at Rush Enterprises
Truck dealership Rush Enterprises Inc. saw first-quarter net income climb and revenues dip, as truck sales industrywide, plummeted nearly 30% year-over-year amid challenging market conditions, according to the company.
April 24, 2017Platinum Equity to Buy American Traffic Solutions
Platinum Equity has agreed to buy American Traffic Solutions, a company that provides red-light and speed safety cameras along with automated toll-payment and violation-management systems in the United States and Canada.
April 24, 2017Diesel Dips 0.2¢ to $2.595 a Gallon
The U.S. average retail price of diesel slipped 0.2 cent to $2.595 a gallon as oil prices dropped below $50 a gallon and U.S. rig counts continued to rise.
April 24, 2017UPS Appoints Juan Perez to Lead Reorganized Unit
UPS Inc. announced the alignment of all technology and engineering functions into one organization and reassigned Juan Perez to chief information and engineering officer.
April 24, 2017FMCSA Officials Get an Earful at Automated CMV Listening Session
Federal trucking regulators got a lot of questions at a public “listening session” on highly automated commercial vehicles, but they were quick to admit they have yet to come up with the answers to many of them.
April 24, 2017Mack, SAF Holland Roll Out Extra-Heavy-Duty Options
MONTREAL — Equipment manufacturers Mack Trucks and SAF Holland rolled out extra-heavy-duty options here at the ExpoCam truck show, while an executive with trailer maker Manac Inc. pointed out that his customers often have to heat their dry vans.
April 24, 2017