We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Expeditors (EXPD) Buys Fleet Logistics' Digital Platform
Read MoreHide Full Article
In a bid to expand its product portfolio, Expeditors International of Washington, Inc. (EXPD - Free Report) completed the acquisition of Fleet Logistics’ Digital Platform. The buyout is expected to boost Expeditors’ online LTL shipping platform, Koho. The move is in line with the company's focus on Digital Solutions.
Apart from supporting Koho, the investment is also expected to brace small shippers quote, book, manage and track the LTL shipments online.
Amid the coronavirus crisis, the acquisition is expected to expand business and get further investments that are expected to drive the top line in the upcoming quarters. Further details of the deal were not disclosed.
The decision to acquire Fleet Logistics’ Digital Platform comes at a time when the company is struggling due to coronavirus- induced supply chain disruptions. Notably, revenues in the Airfreight Services declined in first-quarter 2020 due to low volumes. Notably, volumes pertaining to airfreight tonnage and ocean container contracted 7% and 10%, respectively, year over year in the March end quarter. Operating income dropped 15% to $159 million in the first quarter of 2020. Apart from factory shutdowns, commercial flight cancellations and reduced ocean sailings led to double-digit fall in operating income.
Expeditors was also in the news when Kelly Blacker was appointed as the senior vice president for Global Air. Kelly has been into several leadership positions during her 25-year career at Expeditors.
The Zacks Consensus Estimate for Scorpio Tankers’ current-year earnings has been revised upward in excess of 100% in the past 60 days.
The Zacks Consensus Estimate for Teekay Tanker’s current-year earnings has been revised upward by 49.4% in the past 60 days.
The Zacks Consensus Estimate for Nordic American Tankers’ current-year earnings has been revised upward by 14.1% in the past 60 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Shutterstock
Expeditors (EXPD) Buys Fleet Logistics' Digital Platform
In a bid to expand its product portfolio, Expeditors International of Washington, Inc. (EXPD - Free Report) completed the acquisition of Fleet Logistics’ Digital Platform. The buyout is expected to boost Expeditors’ online LTL shipping platform, Koho. The move is in line with the company's focus on Digital Solutions.
Apart from supporting Koho, the investment is also expected to brace small shippers quote, book, manage and track the LTL shipments online.
Amid the coronavirus crisis, the acquisition is expected to expand business and get further investments that are expected to drive the top line in the upcoming quarters. Further details of the deal were not disclosed.
The decision to acquire Fleet Logistics’ Digital Platform comes at a time when the company is struggling due to coronavirus- induced supply chain disruptions. Notably, revenues in the Airfreight Services declined in first-quarter 2020 due to low volumes. Notably, volumes pertaining to airfreight tonnage and ocean container contracted 7% and 10%, respectively, year over year in the March end quarter. Operating income dropped 15% to $159 million in the first quarter of 2020. Apart from factory shutdowns, commercial flight cancellations and reduced ocean sailings led to double-digit fall in operating income.
Expeditors was also in the news when Kelly Blacker was appointed as the senior vice president for Global Air. Kelly has been into several leadership positions during her 25-year career at Expeditors.
Zacks Rank & Key Picks
Expeditors carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the Zacks Transportation sector are Scorpio Tankers Inc. (STNG - Free Report) , Teekay Tankers Ltd. (TNK - Free Report) and Nordic American Tankers Limited (NAT - Free Report) . Scorpio Tankers sports a Zacks Rank #1 (Strong Buy), while Nordic American Tankers and Teekay Tankers carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Scorpio Tankers’ current-year earnings has been revised upward in excess of 100% in the past 60 days.
The Zacks Consensus Estimate for Teekay Tanker’s current-year earnings has been revised upward by 49.4% in the past 60 days.
The Zacks Consensus Estimate for Nordic American Tankers’ current-year earnings has been revised upward by 14.1% in the past 60 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>