Shyft soars after Amazon confirms to Reuters 2,200 truck order

Shyft Group (SHYF) shares are soaring after Amazon.com (AMZN) confirmed to Reuters that it ordered more than 2,200 heavy-duty Utilimaster delivery trucks from the company. Shyft Group, formerly known as Spartan Motors, is made up of brands Utilimaster, Royal Truck Body, Strobes-R-Us, Spartan RV Chassis, and Builtmore Contract Manufacturing. Amazon declined to say how many of the vehicles have been sent to Amazon delivery contractors, or where they would be deployed, Lisa Baertlein and P.J. Huffstutter of Reuters report. Amazon.com is launching a new fleet of bigger, boxier trucks like those used by UPS (UPS) and FedEx (FDX), the writers add. Following the report, shares of Shyft Group are up 25%, or $3.64, to $18.44. Reference Link