Railcar maker view improved to Positive from Mixed at OTR Global » 09:3406/1106/11/21
GATX, GBX, RAIL, TRN
OTR Global has raised its…
OTR Global has raised its view on railcar manufacturers to Positive from Mixed in March, telling investors that its checks with U.S. railcar sources indicate tightening railcar capacity from higher demand and increased scrapping have pushed up lease rates sequentially for the first time since the pandemic began.
Westlake Chemical price target raised to $134 from $98 at JPMorgan » 07:2106/1106/11/21
JPMorgan analyst Jeffrey…
JPMorgan analyst Jeffrey Zekauskas raised the firm's price target on Westlake Chemical to $134 from $98 and keeps an Overweight rating on the shares. A low interest rate environment, favorable demographic trends in the housing markets, and a slow rate of capacity addition in the global vinyls chain "should support more resilient prices" in chlorine and in polyvinyl chloride, Zekauskas tells investors in a research note. He expects Westlake to generate a "good deal more" EBITDA than the consensus expects in Q2.
XPO Logistics CEO sells 202.2K shares of common stock » 21:0406/1006/10/21
In a regulatory filing,…
In a regulatory filing, XPO Logistics disclosed that its CEO Bradley Jacobs sold 202.2K shares of common stock on June 8th in a total transaction size of $29.2M, reducing his stake by about 1%.
Cerence, Sirius XM enter agreement to enhance voice powered experience » 08:1306/1006/10/21
Cerence (CRNC) and Sirius…
Cerence (CRNC) and Sirius XM Holdings (SIRI) announced that they are teaming up to bring Cerence's conversational AI technology together with SiriusXM as part of a packaged offering for automakers. "Together, the two companies will enhance and enrich the driver experience by offering natural, conversational access to SiriusXM, the popular audio entertainment service in the car that offers hundreds of channels of curated, ad-free music, plus sports, news, entertainment, comedy and more. This collaboration between Cerence and SiriusXM will bring better voice technology to more drivers across more OEMs... Drivers using SiriusXM with 360L can use their voice to access all of SiriusXM's live channels plus a library of recorded content, including a wide selection of podcasts, exclusive interviews and unique shows," the company said.
XPO Logistics price target raised to $175 from $170 at KeyBanc » 07:3506/1006/10/21
KeyBanc analyst Todd…
KeyBanc analyst Todd Fowler raised the firm's price target on XPO Logistics to $175 from $170 and keeps an Overweight rating on the shares. The analyst also raised estimates to reflect stronger LTL trends Q2-to-date and a more favorable logistics outlook into 2022. Further, Fowler sees the potential for an improved second half of 2021 outlook based on current fundamentals. Mid- to high-teens 2022 logistics EBITDA growth is ahead of his prior expectations, driving an improved outlook and conservatively supporting the low-double-digit multiple used in his sum-of-the-parts analysis, the analyst contends.
XPO Logistics completes squeeze-out process for XPO Logistics Europe » 07:0906/1006/10/21
XPO Logistics has…
XPO Logistics has completed the previously announced buy-out offer and squeeze-out for the remaining 3% of XPO Logistics Europe, SA shares that it did not already own. The French Autorite des marches financiers set the effective date of the squeeze-out as June 4, 2021. The former minority shareholders of XPO Logistics Europe have and will receive, as part of the buy-out offer and the subsequent squeeze-out, a payment of EUR 315 per share, resulting in a total cash consideration of approximately EUR108 million. The transaction was supported by the Supervisory Board of XPO Logistics Europe and approved by the French Autorite des marches financiers. Trading of XPO Logistics Europe shares on Euronext Paris was discontinued on May 27, 2021.
UBS to hold a virtual conference » 11:3006/0906/09/21
ATS, ARVL, CMI, APG, PLUG, FSTR, INVX, AZZ, GE, GMS, KLAC, VCVC, TRTN, VLDR, MYRG, TRN, OUST, NWHM, CWST, ROAD, CPS, GLOP, GLOG, DAL, GLDD, HEI, CMS, GNRS, DCO
Global Industrials and…
Global Industrials and Transportation Virtual Conference will be held on June 8-9.
XPO Logistics expects to spin off GXO Logistics in Q3 07:0406/0906/09/21
XPO Logistics sees FY22 organic revenue growth of 8%-12% for GXO spinoff » 07:0306/0906/09/21
XPO Logistics has issued…
XPO Logistics has issued the following full year preliminary 2022 guidance for GXO, the planned spinoff of its logistics segment, assuming a 2021 separation: Organic revenue growth of 8% to 12% above pro forma 2021; Adjusted EBITDA of $700M-$735M, reflecting year-over-year growth of 14% to 20% above pro forma 2021; Adjusted EBITDAR of approximately $1.5B.
XPO Logistics raises Q2 adjusted EBITDA view to at least $490M » 07:0206/0906/09/21
XPO has increased its…
XPO has increased its expectation for Q2 2021 adjusted EBITDA to at least $490M, driven by stronger-than-expected performance in its transportation segment. Consequently, the company has increased its outlook for full year 2021 adjusted EBITDA to at least $1.845B-$1.895B, compared with the prior guidance of $1.825B-$1.875B. The new range for 2021 adjusted EBITDA reflects a year-over-year increase of 32% to 36% above 2020, comprised of: 28% to 32% growth in adjusted EBITDA in the logistics segment and 32% to 36% growth in adjusted EBITDA in the transportation segment.