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

에 대한 최신 뉴스 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

Analyst Color

Equities

Large Cap

News

Price Target

Reiteration

Analyst Ratings

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Trading Ideas

BUYZ

iShares Dow Jones Transportation Average Index Fund

UBER

오펜하이머(Oppenheimer)의 애널리스트가 우버 테크놀로지스(NYSE:UBER)의 목표 주가를 90달러에서 95달러로 상향 조정하고 아웃퍼폼(Outperform) 등급을 유지했다.  

이 분석가는 음식 배달 보급률 증가로 인해 우버의 상승 여력이 25% 이상이라고 예측

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SPDR Dow Jones Industrial Average ETF Trust

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iShares Dow Jones US Broker Dealers Index Fund

iShares Dow Jones US Insurance Index Fund

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iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

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ILIT

iShares Dow Jones US Aerospace & Defense Index Fund

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iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

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Select Sector SPDR-Consumer Discretionary

4월을 마무리하면서, 이번달에 가장 성과가 뛰어난 섹터와 산업 교환 펀드들을 순위화 할 시간이다.



주가를 더 넓은 시각에서 보면, S&amp;P 500 지수는 SPDR S&amp;P 500 ETF 트러스트(NYSE:SPY)로 표현되는 4월에 약 3% 하락하여 4월을 마감했다. 이로써 지난 5개월간 상승 기간이 끝난 셈이다.  



유사하게 Invesco QQQ

월가에 소나기 내린 4월: 우울한 시장에 광업 및 유틸리티 부문이 상승하며 부상

Earnings

Movers

JBHT

QQQN

J.B. 헌트 트랜스포트 서비스(NASDAQ:JBHT)의 주식은 회사가 2024년 1분기 실적을 보고한 이후 하락했다. 영업 수익은 전년 동기 대비 9% 감소한 29억 4천만 달러로 컨센서스인 31억 2천만 달러를 하회했다. 수익 감소는 복합운송(JBI)과 트럭 운송(JBT) 모두에서 부하당 부문 총 수익이 9% 감소하고, 통합 용량 솔루션(ICS)에서 부하가 22% 감소했으며, 전용 계약 서비스(DCS)에서 평균 트럭 및 생산성이 완만하게 감소했기 때문이다.

오늘 J.B. 헌트 트랜스포트 주식이 왜 하락하고 있는지?

BMO Capital Markets analyst Fadi Chamoun upgraded United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) to Outperform from Market Perform and reduced the <a target="_blank" href="https://www.benzinga.com/quote/UPS/analyst-ratings" rel="noreferrer noopener">target price to $150 (from $155)</a>.
The analyst writes that they still have concerns about the trajectory of UPS&#8217;s Domestic operating margins in the medium-to-long term.
Chamoun notes the combination of cyclical tailwinds, moderating unit cost inflation, positive contributions from cost reduction programs, and a low valuation make the near-term risk/reward favorable.
After nearly two years of soft B2B demand, the analyst expects lower interest rates and a recovering industrial economy to drive a return to low single-digit growth in B2B volumes.
Additionally, UPS has implemented more pricing actions on lower-margin B2C customers, particularly in the U.S. Domestic segment, which the analyst notes will improve the volume mix going forward.
Chamoun estimates EPS of $7.49 (vs. $7.52 prior) for 2024 and $8.68 (vs. $8.81 prior) for 2025.
In October, UPS reported consolidated revenue growth of 5.6% year-over-year to $22.2 billion, beating the consensus of $22.14 billion. Adjusted EPS was $1.76, up 12.1% YoY,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41515619/delivery-giant-ups-breaks-revenue-miss-streak-after-10-quarters-stock-soars" rel="noreferrer noopener">above the consensus of $1.63.</a>
Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</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: UPS shares are up 1.05% at $129.88 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/12/42347179/amazon-blasts-lawsuit-over-alleged-slow-deliveries-to-certain-zip-codes-tells-ag-were-protecting-drivers" target="_blank" rel="noreferrer noopener">Amazon Blasts Lawsuit Over Alleged Slow Deliveries To Certain Zip Codes, Tells AG: &#8216;We&#8217;re Protecting Drivers&#8217;</a></li>
</ul>
Photo via Shutterstock.

Upgrades

FTXR

UPS Near-Term Outlook Is Favorable Despite Margin Concerns, Analyst Upgrades Stock

President-elect Donald Trump announced former Congressman Sean Duffy to oversee the Department of Transportation (DOT) on Monday. 
Here's a look at how the latest Trump selection could affect companies in <a href="https://www.benzinga.com/news/24/11/42053292/trump-picks-sean-duffy-as-next-transportation-secretary-says-he-will-usher-in-the-golden-age-of-travel">the transportation sector. </a>
The Details: Duffy, who served in the U.S. House of Representatives from 2011 to 2019, most recently worked as Fox News Media host. He left the position on Monday, according <a href="https://www.nytimes.com/2024/11/18/us/politics/sean-duffy-trump-transportation-dot.html">to</a> the New York Times.
Duffy is the second Fox News employee to be nominated by Trump for a cabinet position. Last week, Trump picked Fox News host Pete Hegseth as Defense Secretary despite <a href="https://www.benzinga.com/news/24/11/41952962/trumps-surprise-defense-secretary-pick-pete-hegseth-jolts-wall-street">lack of government experience</a>.
In 1997, he was a cast member on MTV's "The Real World: Boston.&#8221;
As Transportation Secretary, Duffy would be in charge of major federal agencies, including the Federal Aviation Administration (FAA) and the National Highway Traffic Safety Administration (NHTSA). 
Read More: <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump Appears &#8216;Frustrated&#8217; As Elon Musk Chimes In On Treasury Secretary, Adds More Names To Short List&nbsp;</a>
"He will prioritize Excellence, Competence, Competitiveness and Beauty when rebuilding America's highways, tunnels, bridges and airports. He will ensure our ports and dams serve our Economy without compromising our National Security, and he will make our skies safe again by eliminating DEI for pilots and air traffic controllers," Trump said in his announcement.&nbsp;&nbsp;
<h3 class="wp-block-heading">Air Travel</h3>
If approved by the Senate, Duffy can be expected to address ongoing aviation <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">safety issues</a>. This could include matters relating to Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and air traffic control challenges. As part of Trump's focus on efficiency, Duffy could potentially work to enhance safety measures while streamlining regulations. 
Major airline companies like Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and American Airlines Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) may be affected by potential policy and regulatory changes, as well. 
<h3 class="wp-block-heading">&#8216;Overall Negative For EV Industry&#8217;</h3>
The DOT also oversees the National Highway Traffic Safety Administration (NHTSA) which is expected to focus on regulatory frameworks for electric vehicles and autonomous driving technologies in the near term.  The NHTSA is likely to establish guidelines for emerging technologies like Tesla, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) autonomous driving software. 
Recent reports suggest Trump has plans to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42046316/trump-set-to-hand-musk-golden-path-for-tesla-after-reversing-course-on-autonomous-vehicle-ban">ease restrictions</a> on self-driving vehicles, which could help companies like Tesla expand FSD and bring robotaxis to the market.
Tesla CEO Elon Musk campaigned heavily for Trump and provided millions to his campaign coffers ahead of Election Day.
At the same time, it seems likely that the incoming Trump administration <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">will eliminate </a>or reduce many of the EV purchase incentives included in the Biden administration&#8217;s Inflation Reduction Act (IRA). 
Wedbush analysts said that Tesla&#8217;s rivals, U.S.-based EV startups like Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), could face a major set-back if Trump rolls back current EV tax incentives and rebates, as reports suggest. 
"We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled," Wedbush analysts wrote.&nbsp;
<h3 class="wp-block-heading">Railroads</h3>
If Duffy is confirmed, he will also oversee the Federal Railroad Administration (FRA), which is responsible for safety measures across the rail network. He may address safety concerns following incidents like the East Palestine <a href="https://www.benzinga.com/news/24/04/38240139/norfolk-southern-to-pay-600m-in-ohio-train-derailment-lawsuit">derailment in 2023</a>.
Duffy will also manage billions in federal grants aimed at improving rail infrastructure and upgrading aging rail systems to enhance efficiency and safety. Railroad companies including CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Norfolk Southern Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) and Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) may benefit from such improvement projects. 
Investors can also monitor the broader transportation sector through ETFs which track its performance including the iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and the First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>). 
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a></li>
</ul>
Image: Shutterstock&nbsp;

Politics

Travel

General

LCID

RIVN

TSLA

What Trump's DOT Pick Could Mean For EVs, Airlines, Railroad Stocks

The U.S. Justice Department's Antitrust Division and the Department of Transportation announced on Thursday they have opened a broad public inquiry into the state of competition in air travel on topics including previous airline mergers, aircraft manufacturing, airline ticket sales, <a href="https://www.benzinga.com/government/24/09/40745931/delta-southwest-and-other-airlines-in-hot-waters-with-us-transportation-department-for-unfair-reward">pricing and rewards practices</a>.
The Details: The agencies <a href="https://www.justice.gov/opa/pr/justice-department-and-department-transportation-launch-broad-public-inquiry-state">have issued</a> a Request for Information (RFI) and seek the public's input on anticompetitive conduct, consolidation and issues affecting the availability and affordability of air travel options.&nbsp;
"Competition in air travel is a vehicle for better quality, better fares and better choices for Americans," said Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division.
"With this inquiry, we hope to learn more from the businesses and travelers at the center of this essential industry. Their feedback will ensure the Justice Department can continue to build on its historic efforts to protect competition in air travel," Kanter added.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/10/41546663/fridays-top-5-trending-stocks-whats-the-scoop-on-tesla-sofi-joby">Friday&#8217;s Top 5 Trending Stocks: What&#8217;s The Scoop On Tesla, SoFi, Joby?</a>
The U.S. Travel Association reacted to the DOJ's public inquiry into competition in air travel, which it sees as politically motivated.&nbsp;
"Today's announcement by the Departments of Transportation and Justice that they will launch ‘broad inquiries' into airline business practices is another in a long line of disappointing political stunts," the U.S. Travel Association said <a href="https://www.ustravel.org/press/us-travel-reacts-doj-dot-inquiry-air-travel-competition">in a statement</a>.
DOJ Cracks Down: Under the Biden administration, the DOJ has cracked down on industry consolidation and mergers and successfully blocked <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">the merger</a> of JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) and Spirit Airlines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NASDAQ">SAVE</a>) earlier this year.  
Spirit Airlines continues to face financial trouble and a potential bankruptcy after the deal with JetBlue fell through. Earlier this week, it was reported the<a href="https://www.benzinga.com/m-a/24/10/41496171/whats-going-on-with-spirit-airlines-stock-wednesday"> airline had resumed</a> preliminary merger discussions with Frontier Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). The potential merger of the two airlines would likely coincide with Spirit's restructuring of its debt and other liabilities in bankruptcy and could be affected by actions resulting from the DOJ's latest inquiry. 
Last month, the DOT launched an inquiry into whether the loyalty programs of the four largest U.S. airlines have engaged in unfair, deceptive or noncompetitive practices. Transportation Secretary Pete Buttigieg sent a letter to American Airlines, Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines and Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) requesting records and reports related to the airlines&#8217; loyalty programs, practices and policies.
Federal agencies did allow a merger between Hawaiian Holdings, Inc. and Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) <a href="https://www.benzinga.com/government/24/08/40455513/alaska-airlines-hawaiian-airlines-1-9b-merger-gets-doj-green-light-awaits-transportation-department">to be completed</a> in September. However, the DOT required the companies to agree to a set of consumer protections before giving the deal the green light. 
Why It Matters: Other companies in the airline industry may be affected by the joint inquiry announced Thursday, including planemaker Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and parts supplier Spirit Aerosystems Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>). Investors can monitor the effects on the industry through airline-focused ETFs, including the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and the iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>). 
Read Also:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41551820/flying-taxis-are-almost-here-joby-archer-aviation-applaud-new-faa-regulations-for-evtol-aircraft">Flying Taxis Are Almost Here: Joby, Archer Aviation Applaud New FAA Regulations For eVTOL Aircraft</a></li>
</ul>
Image: Courtesy of&nbsp;United Airlines Holdings, Inc.

Legal

iShares Dow Jones US Financial Sector Index Fund

JBLU

JETS

SAVE

ULCC

DOJ, DOT Open Inquiry Into Airline Competition Amid Rising Concerns

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading lower following <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41483669/old-dominion-freight-line-reports-third-quarter-2024-earnings-per-diluted-share-of-1-43" rel="noreferrer noopener">third-quarter results</a>.
The company reported a revenue decline of&nbsp;3.0%&nbsp;year-over-year to&nbsp;$1.470 billion, missing the consensus of&nbsp;$1.492 billion. EPS was&nbsp;$1.43,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$1.47.</a>
The revenue decrease is primarily due to a&nbsp;4.8% decrease in LTL tons per day, partially offset by a 1.5% increase in LTL revenue per hundredweight.
The decline in LTL tons per day is attributed to a 3.4% drop in LTL shipments per day and a 1.4% reduction in LTL weight per shipment.
LTL revenue per hundredweight, excluding fuel surcharges, rose 4.6% in the quarter.
Operating income fell 9.7%&nbsp;to&nbsp;$401.9 million, with an operating ratio of&nbsp;72.7%, compared to&nbsp;70.6%&nbsp;a year ago.
Old Dominion&#8217;s operating cash flow was&nbsp;$446.5&nbsp;million&nbsp;for the&nbsp;third quarter&nbsp;and&nbsp;$1.3&nbsp;billion&nbsp;for the first nine months.
As of September 30, the company had&nbsp;$74.2&nbsp;million&nbsp;in cash and equivalents. Capital expenditures stood at&nbsp;$242.8&nbsp;million&nbsp;in the&nbsp;third&nbsp;quarter.
For the first nine&nbsp;months of this year, Old Dominion returned capital to shareholders, spending&nbsp;$824.8&nbsp;million&nbsp;on share repurchases, including a&nbsp;$200 million&nbsp;accelerated program, and paying&nbsp;$168.2&nbsp;million&nbsp;in dividends.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, &#8220;Old Dominion&#8217;s third quarter financial results reflect ongoing softness in the domestic economy. The challenging operating environment, and strong comparable results for the third quarter of 2023, resulted in the first year-over-year decrease in our quarterly revenue and earnings per diluted share this year.&#8221;
&#8220;The decrease in revenue had a deleveraging effect on many of our operating expenses, which contributed to the 110 basis point increase in our overhead costs as a percent of revenue. Direct operating costs also increased as a percent of revenue despite our team operating very efficiently during the third quarter.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 5.79% at $187.99 premarket at the last check Wednesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407450/old-dominion-freight-line-faces-sluggish-industrial-demand-analyst-downgrades-stock" target="_blank" rel="noreferrer noopener">Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock</a></li>
</ul>

ODFL

ProShares Trust ProShares Supply Chain Logistics ETF

SUPL

Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading slightly lower on Friday. BMO Capital Markets analyst Fadi Chamoun downgraded the company to Market Perform from Outperform and lowered the price <a target="_blank" href="https://www.benzinga.com/quote/USM/analyst-ratings" rel="noreferrer noopener">target to $210 from $214</a>.
The analyst writes that consensus/BMOe F2025 earnings expectations have decreased by 13%/15%. Demand remains muted, and the timeline for a recovery in freight markets continues to be delayed.
The downgrade reflects anticipation of further negative revisions as the recovery timeline for freight markets extends.
Chamoun says that industrial demand, which represents two-thirds of LTL traffic, remains sluggish.
The analyst writes that although loosening monetary policy is expected to boost volume eventually, the delay between lower rates and a resurgence in demand extends the potential recovery timeline into H2 2025 or beyond.
With multiples at record highs, the near-term margin of safety is limited, adds the analyst.
The analyst reduced the below-consensus forecast for FY25 by 2.5% to $6.00 (versus consensus at $6.27) and for FY26 by 3.3% to $7.06 (compared to consensus of $7.15).
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 0.82% at $199.86 at the last check Friday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a></li>
</ul>

Downgrades

Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock

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.
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ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF

ESGX

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
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</ul>

Contracts

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.
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Photo by yu_photo via Shutterstock

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.
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Photo via Shutterstock

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.
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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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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;
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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>
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Photo: Shutterstock

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>).
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&#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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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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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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<li><a href="https://www.benzinga.com/news/24/07/39581491/whats-going-on-with-cruise-stocks-as-category-4-hurricane-beryl-churns-in-the-caribbean" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Cruise Stocks As Category 4 Hurricane Beryl Churns In the Caribbean?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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
Read Next:
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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

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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What's Going On With Uber Technologies Shares Today?

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iShares Transportation Average: Pivot points

Disruptive Forces In Investing - Solving For 2025

The following are the pivot points for the iShares Transportation Average (IYT). Pivot High: $68.82, Pivot Low: $66.99. These were calculated using...

The following are the pivot points for the iShares Transportation Average (IYT). Pivot High: $68.27, Pivot Low: $67.54. These were calculated using...

The following are the pivot points for the iShares Transportation Average (IYT). Pivot High: $68.91, Pivot Low: $68.01. These were calculated using...

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Russell 2000 IWM, has a few key points of support to hold. $217 is one. The 50-week moving average at around $212.45 is another.

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