A class-action suit filed Tuesday against Yellow Corp. said the company failed to provide a required 60 days’ layoff notice to its 30,000 employees. The complaint was filed on behalf of California dockworker and union steward Armando Rivera and other “similarly situated former employees” in the U.S. District Court for the District of Delaware. Approximately…
The C.H. Robinson second-quarter earnings report and call with analysts was a time to review another three months of weak performance and also introduce new CEO Dave Bozeman to the analyst and investor community. Similar to the performance at 3PL rival RXO, C.H. Robinson (NASDAQ: CHRW) recorded a second quarter that was significantly worse than…
Murray Droescher TransAm Trucking has named Murray Droescher as the new president of TransAm Trucking and executive vice president of Jacobson Holdings. In this role, Droescher will lead the strategic operations of the refrigerated freight company, according to a Tuesday news release. “Murray’s deep understanding of our organization and his proven track record of driving…
Contract logistics provider GXO Logistics Inc. (NYSE: GXO) reported better-than-expected second-quarter results late Wednesday and raised its full-year outlook for earnings per share and earnings before interest, taxes, depreciation and amortization. Second-quarter revenue grew 11% year over year to $2.4 billion, with organic revenue increasing 3%. Net income rose 27% to $65 million. Operating income…
A handful of shipping stocks have left the rest in the dust this year. Dorian LPG (NYSE: LPG) is at the forefront. Its adjusted closing price, accounting for dividends, is up 63% year to date. On Monday, its share price hit its highest level since the company went public in 2014. Dorian operates a fleet…