Tennessee State

UPS customers are trading down, another signal from the second-quarter earnings season about the search for value options across the U.S. economy. CFO Brian Dykes said on a conference call that UPS "saw customers shift from air to ground and from ground to SurePost." A range of companies have highlighted...

UPS Customers Are Trading Down

[Stay on top of transportation news: Get TTNews in your inbox.]. UPS boosted its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street expectations, partly due to a hefty charge. Shares dropped more than 7% before...

UPS Boosts Volume in US for First Time Since 2022

Heartland Express reported a net loss for the second quarter on Tuesday, pointing to weak freight demand, excess capacity and higher expenses as the culprits. The North Liberty, Iowa-based truckload carrier reported a $3.5 million net loss, or 4 cents per share. That was slightly better than the consensus estimate for a 5-cent-per-share loss but well off earnings per share of 10 cents in the 2023 second quarter. Lower gains on the sale of used equipment presented a 7-cent hurdle (assuming a normalized tax rate) versus the year-ago quarter.

Heartland Express says recovery likely in 2025

United Parcel Service on Tuesday reported profit and revenue for the second quarter that came in below expectations. It also cut its 2024 revenue guidance to approximately $93 billion, revised from a previous forecast for as much as $94.5 billion. Weak freight demand and soft pricing in the shipping sector...

UPS shares fall 12%, post worst day on record after earnings miss and guidance cut

Keurig Dr Pepper's second-quarter earnings and revenue met Wall Street's expectations. The company's U.S. coffee division struggled, while its domestic refreshment division saw higher sales, thanks to price increases. The beverage giant also reiterated its full-year outlook. Shares of the company rose 2% in premarket trading. Here's what the company...

Keurig Dr Pepper earnings meet estimates as higher prices fuel U.S. soda sales

California State

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Lancaster County, PA

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NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

Miami, FL

Two Miami-based trucking companies have filed for Chapter 11 bankruptcy protection. A1 Transport Network and AB Brothers USA both filed petitions Saturday in the U.S. Bankruptcy Court for the Southern District of Florida. According to the trucking companies’ petitions, Ivan Antigua Escobar is listed as president of A1 Transport Network...

2 Miami trucking companies file for bankruptcy protection

Business Times

AT&T, one of the largest telecom operators in the United States, reported second-quarter results on Wednesday that exceeded Wall Street's expectations for wireless subscriber additions, driven by strong demand for its higher-tier unlimited plans. This news sent the company's shares up by 4% in premarket trading.

AT&T Beats Expectations with Subscriber Surge, But Faces Challenges

(Reuters) - United Parcel Service lowered its 2024 operating margin target on Tuesday, after new e-commerce customers - identified by industry experts and shoppers as Shein and Temu - flooded its network with slower, lower-profit shipments. Shares of the world's biggest package delivery firm tumbled 13% in midday trading and...

Cheap Deliveries Swamp UPS Earnings, Sending Shares Reeling

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

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J. Souza

Royal Caribbean’s Utopia of the Seas, a $1.35 billion behemoth of the sea, has recently been introduced to the world since its maiden voyage on July 19th. The ship, boasting nearly 5,700 passengers and a crew of over 2,200, offers an array of amenities designed to cater to multi-generational families on shorter 3- and 4-day itineraries.

Cruise Passengers Not Happy About Feature on World's Newest Mega Ship

Kentucky State

Northern Kentucky Tribune

Kentucky’s medical cannabis program has taken significant steps toward ensuring those with qualifying conditions have access to medical cannabis as soon as possible, said Gov. Andy Beshear this week.

State to open licensing applications for medical cannabis businesses beginning July 1

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

The Motley Fool

UPS earnings call for the period ending June 30, 2024.

United Parcel Service (UPS) Q2 2024 Earnings Call Transcript

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

Iowa State

Moline, IL

The Associated Press

Deere & Co. is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand. Deere confirmed Monday that the production positions being cut are concentrated at two factories in Iowa and one at its home base in Moline, Illinois, where 280 employees will be laid off effective Aug. 30. A combined 310 workers will be let go at the Iowa locations.

Struggling with falling demand for farm equipment, Deere & Co. announces nearly 600 layoffs

Reuters

(Reuters) -U.S. railroad operator Union Pacific reported its second-quarter profit above Wall Street estimates on Thursday, as strong pricing and increased volumes more than offset reduced fuel surcharge and business-mix headwinds.

Union Pacific reports quarterly profit above estimates on higher pricing, volumes

After hitting the jackpot in the cruise ship's casino, one man was shocked by the prize he won. A recent TikTok video has gotten a lot of attention, showcasing a couple's unexpected windfall during a cruise vacation.

Cruise Passenger Wins Jackpot on Cruise and Gets $50k Cabin Upgrade

Georgia State

Savannah, GA

China-based electric truck startup Windrose Technology Inc. plans to build a manufacturing plant in Savannah, Georgia, for its line of semi-trucks, according to Reuters. Officials for Windrose said they have 6,400 existing orders for Class 8 EV trucks, with the majority of orders coming from U.S. companies. “The U.S. market...

Chinese Class 8 EV truck maker plans to build factory in Georgia

In the most recent State of Freight webinar, CEO and Founder of FreightWaves SONAR, Craig Fuller, discussed the topic of a potential Trump presidency and a freight boom. Are the two related?

Would a Trump Presidency Stimulate a Freight Boom?

NewsBreak

Covenant Logistics sees 4.7% rise in Q2 earnings amid ‘weak’ freight market

Covenant Logistics Group reported revenue of $287.5 million in the second quarter after the market closed Wednesday, an increase of 4.7% year-over-year compared to 2023. The...

Covenant Logistics sees 4.7% rise in Q2 earnings amid ‘weak’ freight market

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