(Bloomberg) -- Shares of several large trucking companies plunged on Wednesday after Amazon.com Inc. announced an expansion of its shipping service that has already shaken the transportation and logistics sector and unsettled investors.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’US Launches Strikes Against Iran After Helicopter Shot DownUS Strikes Iran Afte...
(Bloomberg) -- Shares of several large trucking companies plunged on Wednesday after Amazon.com Inc. announced an expansion of its shipping service that has already shaken the transportation and logistics sector and unsettled investors.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’US Launches Strikes Against Iran After Helicopter Shot DownUS Strikes Iran After Helicopter Downed, Testing Peace TalksStocks Pare Tech-Led Drop as Rotation Gains Speed: Markets W
In this article FDXF XPO AMZN SAIA ARCB ODFL Follow your favorite stocks CREATE FREE ACCOUNT Amazon trailers are parked at an Amazon Air gateway at Miami International Airport in Miami, Sept. 26, 2023. Joe Raedle | Getty Images Shares of several large freight carriers slumped on Wednesday after Amazon announced it's opening up its trucking services to companies beyond its own network. The e-retail...
In this article FDXF XPO AMZN SAIA ARCB ODFL Follow your favorite stocks CREATE FREE ACCOUNT Amazon trailers are parked at an Amazon Air gateway at Miami International Airport in Miami, Sept. 26, 2023. Joe Raedle | Getty Images Shares of several large freight carriers slumped on Wednesday after Amazon announced it's opening up its trucking services to companies beyond its own network. The e-retailer said it will offer less-than-truckload shipping to all businesses, not just those who ship goods into its warehouses and fulfillment centers, and deliver to any destination in the U.S., as part of its nascent Amazon Supply Chain Services program. Less-than-truckload refers to a service where companies carry shipments from multiple customers on a single trailer, instead of full truckloads. Old Dominion Freight Line 's stock tumbled more than 6%, while shares of ArcBest sank 4%. Saia and XPO Logistics slid 5% each. Shares of FedEx Freight , which started trading earlier this month after it was spun off by FedEx, fell about 3%. Read more CNBC tech news SpaceX IPO explained: The price is set, but retail allocation still up in the air Beijing ramped up AI cyberattacks to catch up with the U.S., CrowdStrike says Super Micro stock tumbles on $7 billion financing plan to fund hardware purchases Anthropic releases Mythos-like AI model to the public two months after private rollout rocked Wall Street Amazon has built up a logistics empire over the past several years and reduced its reliance on external carriers, largely to service its own needs and meet its increasingly faster shipping speeds. That includes a fleet of Amazon-branded cargo planes , tens of thousands of delivery vans and a growing freight service that includes 80,000 trailers and 24,000 containers. "The feedback from Amazon selling partners using our LTL service was clear: the technology, visibility, and reliability were exactly what they needed — and they wanted to use it more broadly," Jim Ruiz, director of Amazon...
Oscar winner Mikey Madison and Jeremy Strong to star in film focused on fallout from whistleblower Frances Haugen The first trailer for Aaron Sorkin’s eagerly anticipated follow-up to The Social Network has landed. The Social Reckoning has been described as a film that isn’t a “straight sequel” but one that will still revisit Mark Zuckerberg and Facebook. Continue reading...
Oscar winner Mikey Madison and Jeremy Strong to star in film focused on fallout from whistleblower Frances Haugen The first trailer for Aaron Sorkin’s eagerly anticipated follow-up to The Social Network has landed. The Social Reckoning has been described as a film that isn’t a “straight sequel” but one that will still revisit Mark Zuckerberg and Facebook. Continue reading...
asbe/iStock via Getty Images Innodata Inc. ( INOD ) is a stock that I have given a hold rating to on multiple occasions. The stock has been quite the roller coaster, so depending on when you look at the rating, it has been the right decision or wrong decision. When I initially reviewed the stock, I had some concerns; the company has continued to eliminate many of those concerns. It continues to op...
asbe/iStock via Getty Images Innodata Inc. ( INOD ) is a stock that I have given a hold rating to on multiple occasions. The stock has been quite the roller coaster, so depending on when you look at the rating, it has been the right decision or wrong decision. When I initially reviewed the stock, I had some concerns; the company has continued to eliminate many of those concerns. It continues to operate in the high-stakes world of AI and is benefiting from its expertise. I last reviewed the stock to start the year. It had reported Q3 earnings but not yet Q4. The company was showing good progress, but I thought the future growth was priced into the stock at the price. For the next 3 months following my review, the stock traded down consistently, going from around $63 to under $35 a share by the end of March. This was where I missed this opportunity. I thought the stock was trading at a good price point near $60, and the stock was nearly cut in half from that price point. I did not track the stock as well as I should have and missed the value opportunity that presented itself from the sell-off. In hindsight, there was a lot more value than I would have guessed. The stock performance completely changed following the Q1 earnings report. The company reported positives on multiple fronts and raised guidance. The stock rocketed higher based on the news. It closed around $45 a share on May 7, and by May 11 the stock was over $100 a share. It reached a peak of $125.14 a share. Seeking Alpha Many of my lingering concerns showed positives in the report. The company showed stronger growth, improved margins, and diversified revenues. The company beat estimates and raised guidance for the year. I actually estimated that the company would beat estimates when I last covered the stock. The stock was trading at depressed multiples and spiked on the positive earnings. That being said, the increase of over 125% in a month has left the stock trading at a high valuation. Financials The Q1...
JHVEPhoto/iStock Editorial via Getty Images Celestica Inc.’s ( CLS ) been reeling from a steepening selloff over the past week after Broadcom ( AVGO ) reported a weaker-than-expected AI semiconductor revenue outlook on June 3. Specifically, Broadcom’s outlook is of particular relevance to Celestica because both companies are currently key partners of Google’s ( GOOGL / GOOG ) in-house TPU roadmap....
JHVEPhoto/iStock Editorial via Getty Images Celestica Inc.’s ( CLS ) been reeling from a steepening selloff over the past week after Broadcom ( AVGO ) reported a weaker-than-expected AI semiconductor revenue outlook on June 3. Specifically, Broadcom’s outlook is of particular relevance to Celestica because both companies are currently key partners of Google’s ( GOOGL / GOOG ) in-house TPU roadmap. Broadcom’s weaker-than-expect AI semiconductor outlook has raised concerns over the pace of upcoming Google TPU deployments, indirectly implying potential risks to Celestica’s ramp across related server and switching programs that’ve become central to its fundamental prospects. These concerns are further amplified by management’s latest warning of intensifying supply constraints, which are most evident in custom silicon and memory, during the company’s Q1 earnings update. However, recent pullback in Celestica shares likely overstates the underlying fundamental risk. As discussed in my recent coverage , Broadcom’s AI semiconductor outlook remains strong, with management guiding 200% y/y growth towards $16 billion, marking only a modest miss from elevated market expectations. This accordingly highlights robust underlying demand for custom silicon and AI networking in supporting next-generation AI infrastructure deployments. The momentum is further corroborated by Nvidia ( NVDA ) CEO Jensen Huang’s latest endorsement of its key custom and AI networking partner Marvell ( MRVL ) in becoming the next “ trillion-dollar company ,” citing the increasingly mission critical role of efficient scale-up and scale-out fabrics in supporting large-scale AI cluster deployments. More importantly, Celestica’s very own guidance also supports a robust demand backdrop ahead. Specifically, management has recently raised the company’s 2026 revenue and earnings outlook, while expressing confidence in continued momentum through 2027 based on existing programs alone. The company has also confirmed ea...
In this article HMC Follow your favorite stocks CREATE FREE ACCOUNT In an aerial view, the Honda of San Marcos dealership is seen on March 12, 2026 in San Marcos, Texas. Brandon Bell | Getty Images Honda is recalling more than 800,000 vehicles because rear suspension components may fail and cause drivers to lose control, increasing the chances of a crash or injury. American Honda Motor Co. said th...
In this article HMC Follow your favorite stocks CREATE FREE ACCOUNT In an aerial view, the Honda of San Marcos dealership is seen on March 12, 2026 in San Marcos, Texas. Brandon Bell | Getty Images Honda is recalling more than 800,000 vehicles because rear suspension components may fail and cause drivers to lose control, increasing the chances of a crash or injury. American Honda Motor Co. said the recall covers certain 2016-2022 Honda Pilot, 2017-2023 Ridgeline, 2019-2023 Passport and 2014-2020 Acura MDX vehicles. The recall includes 880,514 vehicles that were sold in Connecticut, Delaware, District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, or Wisconsin. The problem centers around the rear subframe, which can corrode at suspension mounting points and cause the rear suspension to fail. Honda estimates that just 1% of the vehicles listed have the defect. Honda has had no warranty claims and no reports of an injury or death related to the problem. As a remedy, Honda and Acura dealers will inspect the rear subframe and install a reinforcement kit if necessary, or repair or replace the rear subframe components at no cost to vehicle owners. Owner notification letters are expected to be mailed July 7. The National Highway Traffic Safety Administration's campaign number for the recall is 26V367000. Honda's numbers for this recall are AOU and AOT. Vehicle Identification Numbers applicable to this recall will be searchable on NHTSA.gov beginning June 10. Owners may contact Honda's customer service at 1-888-234-2138. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
JulieAlexK The Bank of Canada continued to hold its policy rate at 2.25% on Wednesday for a fifth straight meeting as expected. Developing… Check back for updates. More on Canada EWC: Canada In Technical Recession, But Here's Why You Want To Buy (Rating Upgrade) Bank of Canada Neutral Hold (2.25%) - USD/CAD Rallies To 1.3 Dollar Reasserts Itself As Global Tensions Shift Currency Markets Canadian e...
JulieAlexK The Bank of Canada continued to hold its policy rate at 2.25% on Wednesday for a fifth straight meeting as expected. Developing… Check back for updates. More on Canada EWC: Canada In Technical Recession, But Here's Why You Want To Buy (Rating Upgrade) Bank of Canada Neutral Hold (2.25%) - USD/CAD Rallies To 1.3 Dollar Reasserts Itself As Global Tensions Shift Currency Markets Canadian exports rise to C$75.16B, boosting April trade balance Canada's unemployment rate tumbles to 6.6% as May economy adds surprise 88K jobs
The man accused of “maliciously” starting the most destructive wildfire in Los Angeles history last year is set to face a jury over arson charges. Prosecutors allege Jonathan Rinderknecht, 30, hiked around midnight on New Year’s Eve to a hillside in the Pacific Palisades neighborhood filled with multimillion-dollar homes and set a brush fire with a barbecue lighter later found in his car. The blaz...
The man accused of “maliciously” starting the most destructive wildfire in Los Angeles history last year is set to face a jury over arson charges. Prosecutors allege Jonathan Rinderknecht, 30, hiked around midnight on New Year’s Eve to a hillside in the Pacific Palisades neighborhood filled with multimillion-dollar homes and set a brush fire with a barbecue lighter later found in his car. The blaze he’s accused of igniting was contained by firefighters, but was allegedly rekindled on Jan. 7, 2025, by hurricane-force winds , morphing into a massive conflagration that killed at least 12 people, charred more than 23,000 acres and destroyed or damaged almost 8,000 structures. Insured losses from the fire were estimated by Gallagher Re at $23 billion. Rinderknecht, who had lived in the area, was working as an Uber driver and dropped off a passenger near where the fire started, according to the government. GPS data shows he called 911 while standing about 30 feet (nine meters) from where the fire was ignited on Jan. 1, 2025, and then drove away, only to return to the scene as firetrucks arrived, prosecutors said. Rinderknecht’s lawyer claims he is innocent but has been made a “scapegoat” for the failure of firefighters to fully extinguish the Jan. 1 blaze before its embers flared up six days later. Steve Haney, the defense attorney, has argued the government lacks solid proof that Rinderknecht set the initial fire and noted that witnesses heard New Year’s Eve fireworks in the vicinity. “No misguided theory from the government will change the lack of evidence showing my client started or was responsible for either of the fires for which he is charged,” Haney said. “We look forward to proving it at trial.” The challenge for Haney is the circumstantial evidence that the government claims will show that Rinderknecht was bent on destruction. Read More: LA Fire Suspect Angry He Had No Date for New Year’s, US Says Prosecutors in the office of Los Angeles Acting US Attorney Bill ...
Load Balancing leader and the only traffic management tool in the DevOps top 100 becomes the industry standard for Kubernetes and AI routing. NEWTON, Mass., June 10, 2026 (GLOBE NEWSWIRE) -- HAProxy Technologies, the company behind HAProxy One, the world's fastest application delivery and security platform, today announced its G2 Summer 2026 Grid® and Index Report results. The company earned 86 ba...
Load Balancing leader and the only traffic management tool in the DevOps top 100 becomes the industry standard for Kubernetes and AI routing. NEWTON, Mass., June 10, 2026 (GLOBE NEWSWIRE) -- HAProxy Technologies, the company behind HAProxy One, the world's fastest application delivery and security platform, today announced its G2 Summer 2026 Grid® and Index Report results. The company earned 86 badges across eight categories, including 33 Leader and Momentum Leader badges. Key results: #1 in Loa