Oil is set to eke out a monthly gain, yet futures lost steam on July 31 amid threats that the market will soon become oversupplied.
July 31, 2020Logistics 100 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Oil Pares Monthly Gain With Global Supply Onslaught Looming
Amazon Plows Through Pandemic With Record Profit
Amazon .com Inc. justified its big investments to keep operating through the COVID-19 pandemic with sales growth and a record profit that far exceeded analysts’ estimates, showing that staying open when so many businesses were forced to close was a rare opportunity.
XPO Reports Net Loss in Q2; Revenue Slides
XPO Logistics swung to a loss as revenue declined sharply in the second quarter because of the COVID-19 pandemic.
Schneider Reports Profit Rises, Revenue Dips
Schneider National saw net income increase while revenue fell during the second quarter, the truckload, intermodal and logistics services company reported July 30.
United Air Warns Outlook Threatens One-Third of Pilot Jobs
United Airlines Holdings Inc. warned that it’s considering furloughs for as many as one-third of its nearly 12,000 pilots, citing a resurgence in U.S. coronavirus cases that’s weakened sales.
UPS Reports Strong Q2 Earnings as Deliveries Surge
UPS Inc. reported strong results in the second quarter, as a surge in deliveries to homes and businesses has helped lift the company through the COVID-19 pandemic.
Walmart Is Eliminating Hundreds of Corporate Jobs
Walmart Inc. has eliminated hundreds of corporate positions, according to people familiar with the matter, as retailers around the country slim down at the back-office level.
Ryder Steps in as Amazon Restricts Third-Party Sellers
Ryder System Inc. is positioning itself to fill a major void left by Amazon.com Inc. after the online retail giant announced it will restrict warehouse space for third-party sellers.
Werner Reports Q2 Revenue of $569 Million
Werner Enterprises reported declines in second-quarter revenue and net income during what the company’s leader said was one of the toughest business environments it has ever confronted.
U.S. Xpress Reports Profit, Revenue Gains for Q2
U.S. Xpress Enterprises’ net income and revenue increased during the second quarter, the Chattanooga, Tenn.-based carrier reported July 28.