Trucking Business News

Eastern freight railroad CSX Corp. reported fourth-quarter earnings of $347 million or 75 cents a share, up from $237 million or 52 cents a year earlier.

Analysts expect mostly lackluster fourth-quarter earnings from trucking companies, since the industry's annual peak season never materialized and demand further waned amid a general economic slowdown, the Associated Press reported.

Freight railroads Union Pacific Railroad and Norfolk Southern Railway said Tuesday that they will launch a new intermodal train service in February that will add rail capacity and expand intermodal rail service between Los Angeles and the Southeast.

Truckload carrier Covenant Transport said it expects to report a net loss between 5 cents and 10 cents a share for the fourth quarter.

Vehicle parts manufacturer Eaton Corp. said Monday that its fourth-quarter earnings rose nearly 15% from a year ago.

Swift Transportation Co. agreed late Friday to be acquired by company founder Jerry Moyes for $31.55 a share, or about $2.74 billion, the company said.

Navistar International Corp. said Monday that it signed its previously announced $1.5 billion loan agreement.

Average U.S. retail gasoline prices fell 14 cents over the past two weeks to $2.18 a gallon, according to the latest Lundberg survey of gasoline prices released Sunday.

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WASHINGTON — Volvo AB and Mack Trucks Inc. last week unveiled a hybrid prototype of a heavy-duty Mack construction truck and company officials said their diesel-electric power supply will cut fuel costs 30% for stop-and-go trucks and buses while running much cleaner.