Old Dominion Freight Line: Valuation More Attractive, But Additional Downside Could Be Near
- Old Dominion Freight Line faces near-term headwinds from high interest rates, lower freight volumes, and rising costs, but fundamentals remain solid for long-term investors. Despite recent declines, ODFL's dividend is well-covered, free cash flow is strong, and reduced CAPEX enhances future flexibility for buybacks or debt reduction. Valuation remains elevated with a forward P/E above 30x, so I recommend waiting for a further 10-20% price drop before adding shares.
- 06/20/2025
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How Is Mission Produce Managing Input & Freight Inflation?
- AVO offsets cost pressures with its own farms and global logistics, aiming for growth beyond avocados.
- 06/17/2025
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Old Dominion Freight Lines - If You Own Only One Trucking Company, Make It This One
- Old Dominion Freight Lines (ODFL) is my top trucking stock pick, offering unmatched quality and long-term value in the LTL segment. ODFL's premium service focus and superior network create high barriers to entry and sustainable competitive advantages over truckload peers and other LTL carriers. ODFL consistently gains market share and delivers industry-leading returns on capital, justifying its premium valuation versus competitors like SAIA.
- 06/04/2025
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Old Dominion Freight Line Provides Update for Second Quarter 2025
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for May 2025. Revenue per day decreased 5.8% as compared to May 2024 due to an 8.4% decrease in LTL tons per day that was partially offset by an increase in LTL revenue per hundredweight. The decrease in LTL tons per day was attributable to a 6.8% decrease in LTL shipments per day and a 1.9% decrease in LTL weight per shipment. For the quarter-t.
- 06/04/2025
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Diana Shipping: Cheap For A Reason In A Weak Freight Market
- Diana Shipping Inc. appears undervalued with strong charter coverage, but faces declining revenues, earnings, and EBITDA amid sector headwinds and oversupply. The company's breakeven charter rates exceed current market rates, signaling likely losses unless the spot market improves significantly. Despite a high dividend yield historically, DSX payouts have been slashed by 76% year-over-year, eroding the value thesis.
- 06/02/2025
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Freight Technologies Exchanges Senior Convertible Notes for Series A4 Preferred Shares under the $20 Million Facility
- Notes now convertible into series A4 preferred shares | $1.5 million of notes converted Notes now convertible into series A4 preferred shares | $1.5 million of notes converted
- 05/27/2025
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Freight Technologies Announces 1-for-4 Reverse Share Split
- HOUSTON, May 22, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company offering a diverse portfolio of technology-driven solutions, announced today that the board of directors of the Company approved a one (1) for four (4) reverse share split (“reverse split”) of its issued and outstanding ordinary shares, no par value (the “Ordinary Shares”). The Ordinary Shares will begin trading on a split adjusted basis on May 27, 2025.
- 05/22/2025
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Old Dominion Freight Line Announces $0.28 Per Share Quarterly Cash Dividend
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced that its Board of Directors has declared a quarterly cash dividend of $0.28 per share of common stock, payable on June 18, 2025, to shareholders of record at the close of business on June 4, 2025. This dividend payment represents a 7.7% increase to the quarterly cash dividend paid in June 2024. Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the P.
- 05/22/2025
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Freight Technologies Announces First Quarter 2025 Results
- HOUSTON, May 20, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT; “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions, released its results for the first quarter ended March 31, 2025, on May 16, 2025. “In the first quarter of 2025, the Company continued to build on the transformative progress of 2024.
- 05/20/2025
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Aurora Begins Commercial Driverless Trucking in Texas, Ushering in a New Era of Freight
- DALLAS--(BUSINESS WIRE)---- $AUR #autonomoustrucking--Aurora Innovation, Inc. (NASDAQ: AUR) has successfully launched its commercial self-driving trucking service in Texas. Following the closure of its safety case, Aurora began regular driverless customer deliveries between Dallas and Houston this week. To date, the Aurora Driver has completed over 1,200 miles without a driver. The milestone makes Aurora the first company to operate a commercial self-driving service with heavy-duty trucks on public roads. Aurora plans to e.
- 05/01/2025
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Freight Technologies Secures up to USD $20 Million to Create an Official Trump Token ($TRUMP) Treasury
- -Capital dedicated for the strategic accumulation of Official Trump ($TRUMP) cryptocurrency- -Creates diversified crypto treasury strategy alongside recent purchase of FET tokens-
- 04/30/2025
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Why Old Dominion Freight Line Stock Was Sliding Today
- Shares of Old Dominion Freight Line (ODFL -7.35%) were falling today in sympathy with a disappointing report from rival Saia, another top less-than-truckload (LTL) carrier.
- 04/25/2025
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Old Dominion Freight Line Reports First Quarter 2025 Earnings Per Diluted Share of $1.19
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced financial results for the three-month period ended March 31, 2025. Three Months Ended March 31, (In thousands, except per share amounts) 2025 2024 % Chg. Total revenue $ 1,374,858 $ 1,460,073 (5.8)% LTL services revenue $ 1,360,839 $ 1,446,733 (5.9)% Other services revenue $ 14,019 $ 13,340 5.1% Operating income $ 338,055 $ 386,426 (12.5)% Operating ratio 75.4 % .
- 04/23/2025
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J.B. Hunt Profit Falls as Weak Freight Demand Persists
- Trucking company is first major freight operator to report results since Trump began rolling out new tariffs.
- 04/15/2025
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Freight Technologies Announces Full Year 2024 Results and Outlook for 2025
- HOUSTON, April 14, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT; “Fr8Tech” or the “Company”), a logistics management innovation company offering a diverse portfolio of technology-driven solutions, today announced its results for the full year ended December 31, 2024. “2024 was a transformative year for Fr8Tech, highlighted by improvements across several key metrics including gross margins and cash flow from operations.
- 04/14/2025
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Freight Technologies Announces AI Lab to Enhance Cross-Border Freight Logistics
- AI Lab to enable smarter freight operations for customers by developing and integrating cognitive AI solutions
- 04/11/2025
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Knight-Swift Faces Pressure With Lack Of Freight Flows Amid Tariffs, Analyst Downgrades Stock
- BofA Securities analyst Ken Hoexter downgraded the shares of Knight-Swift Transportation Holdings Inc KNX on Tuesday from Buy to Neutral and lowered the price forecast from $66.00 to $46.00.
- 04/01/2025
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Skypace Enhances Speed and Accuracy of Freight Bookings with Descartes Rate Management Solution
- ATLANTA, March 31, 2025 (GLOBE NEWSWIRE) -- Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that international freight forwarder Skypace is using the Descartes Global Price Management™ (GPM) solution to populate its self-service quote-to-book platform with accurate shipping rates and provide a digital-first experience for its growing customer base.
- 03/31/2025
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Old Dominion Freight Line to Webcast First Quarter 2025 Conference Call
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) announced today that it plans to release its first quarter 2025 financial results before opening of trading on Wednesday, April 23, 2025. The Company will also hold a conference call to discuss its financial results and outlook at 10:00 a.m. (Eastern Time) on Wednesday, April 23, 2025. An online, real-time webcast of Old Dominion's quarterly conference call will be available at ir.odfl.com on Wednesday, April 23,.
- 03/26/2025
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Landstar System Continues to Grapple With Weak Freight Market
- Weakness in overall volumes due to headwinds, such as weak freight demand, supply-chain woes and slower network velocity, are hurting LSTR's top line.
- 03/24/2025
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Union Pacific Strong on Dividends Despite Freight Downturn
- UNP aims to cut costs to combat weak revenues. A high debt load is a concern.
- 03/24/2025
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Old Dominion Freight Line: A Strong Player in a Competitive Trucking Market
- Explore the exciting world of Old Dominion Freight Line (ODFL -6.15%) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!
- 03/11/2025
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Freight Technologies Launches AI Tendering Bot to Revolutionize and Streamline Load Tendering Process
- AI-Driven Innovation to Automate, Optimize, and Accelerate Load Tendering for Shippers and Brokers AI-Driven Innovation to Automate, Optimize, and Accelerate Load Tendering for Shippers and Brokers
- 03/04/2025
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Toppoint Holdings Expands Import Drayage Operations Through Strategic Collaboration with Leading New Jersey Freight Broker and Warehousing Provider
- 200 Monthly Loads to Start, with Potential for Four-fold Growth by Year-End; Projected to Generate More than $1M in Additional Revenue in 2025 200 Monthly Loads to Start, with Potential for Four-fold Growth by Year-End; Projected to Generate More than $1M in Additional Revenue in 2025
- 03/04/2025
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Old Dominion Freight Line Provides Update for First Quarter 2025
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for February 2025. Revenue per day decreased 5.0% as compared to February 2024 due to a 7.1% decrease in LTL tons per day that was partially offset by an increase in LTL revenue per hundredweight. The decrease in LTL tons per day was attributable to a 5.9% decrease in LTL shipments per day and a 1.3% decrease in LTL weight per shipment. For the.
- 03/04/2025
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Old Dominion Freight Line: Just Getting Started
- Warren Buffett highlighted Enterprise Rent-A-Car's success through exceptional customer service, I suggest a similar moat for Old Dominion Freight Lines in the LTL trucking industry. ODFL's superior service quality, evidenced by a 99% on-time performance and low claim ratio, has driven significant market share gains and industry recognition. ODFL's strategic investments in service centers, fleet, and employee training have created a robust, profitable network, enabling sustained growth and high returns.
- 02/28/2025
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2 Air-Freight & Cargo Stocks in Focus Despite Industry Hurdles
- Headwinds like weak demand, high inflation and geopolitical woes hurt the Zacks Transportation Air Freight & Cargo industry. FDX and ATSG are likely to stand out.
- 02/27/2025
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Freight stocks lower due to fears Amazon may be entering space, says Barclays' Brandon Oglenski
- Brandon Oglenski, Barclays senior airlines and transportation analyst, joins 'Money Movers' to discuss why there's selling in the freight space, if tariffs are inherently negative for the industrial sector, and much more.
- 02/21/2025
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Freight Technologies Announces Updates to its Board of Directors
- HOUSTON, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions, announced today that its board of directors (the “Board”) has approved the appointment of two new independent Board directors, Leilei Nie and Andres Gonzalez, effective February 14, 2025. These appointments follow the resignations of Paul Freudenthaler and William Samuels who recently notified the Board of their intentions to resign. Their resignations were not the result of any dispute or disagreement with either the Company or the Board. Mr. Freudenthaler will continue to serve as secretary of the Board.
- 02/21/2025
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Freightos® Introduces Index Linking for Freight Contracts, Bringing Global Trade to the Digital Age
- BARCELONA, Spain , Feb. 18, 2025 /PRNewswire/ -- Freightos (Nasdaq: CRGO), the world's leading digital freight booking and payment platform, today announced the launch of the Freightos Index Linking Toolkit in its Freightos Terminal market intelligence solution. This innovative toolkit enables dynamic contract pricing that automatically adjusts to market fluctuations, providing a seamless and resilient approach to freight rate management.
- 02/18/2025
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Freight Technologies Launches Transportation Management System for USMCA Region
- Freight Technologies launched a transportation management system (TMS) designed for brokers, shippers and other logistics operators working across the United States-Mexico-Canada Agreement (USMCA) region. The new Fleet Rocket is designed to help these businesses handle both domestic and cross-border logistics and optimize supply chain management, the logistics management technology company said in a Monday (Feb.
- 02/14/2025
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Freight Technologies Announces Commercial Launch of Fleet Rocket
- Fleet Rocket is a new Transportation Management System (TMS) that redefines freight operations management across the USMCA region Fleet Rocket is a new Transportation Management System (TMS) that redefines freight operations management across the USMCA region
- 02/10/2025
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Freight Technologies Advances Transformation to Accelerate Innovation, Reduce Costs, and Drive Growth
- -Fr8Tech's Transportation Management System (TMS) to formally launch in February -Company announces workforce reduction to create operational efficiencies and align resources HOUSTON, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech'' or “Freight Technologies'' or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced significant updates in its strategic evolution as a technology-centric enterprise. Fr8Tech continues to advance its transformational focus on technological innovation to enhance and expand current operations with its valued customers, as it builds upon the commercialization of its Transportation Management System (TMS) software, scheduled to formally launch later this month.
- 02/07/2025
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Old Dominion Freight Line Reports Fourth Quarter 2024 Earnings Per Diluted Share of $1.23
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced financial results for the three-month and twelve-month periods ended December 31, 2024. All prior-period share and per share data in this release have been adjusted to reflect the Company's March 2024 two-for-one stock split. Three Months Ended Twelve Months Ended December 31, December 31, (In thousands, except per share amounts) 2024 2023 % Chg. 2024 2023 % Chg.
- 02/05/2025
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Freight Technologies Completes $3 Million Private Placement Offering of Convertible Preferred Stock
- HOUSTON, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech'' or “Freight Technologies'' or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced the gross sale of $3.0 million (“the Offering”) consisting of 1,540,832 Series A4 preferred shares of the Company, par value $0.0001 per share ("Preferred Shares") to certain accredited investors in a non-brokered private placement.
- 02/03/2025
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Freight Technologies Renews Multi-Year Logistics Services Agreement with Kimberly-Clark de México
- HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, announced today the renewal of its logistics services contract with Kimberly-Clark de México, S.A.B. de C.V. The renewed agreement extends the relationship for an additional two years and encompasses the transportation of products and goods throughout Mexico.
- 01/13/2025
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Freight Technologies Announces Unaudited Financial Results for the Six Months Ended June 30, 2024
- HOUSTON , Jan. 10, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech'' or “Freight Technologies'' or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today reported financial and operating results for the six months ended June 30, 2024.
- 01/10/2025
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Freight Technologies Announces Change of Auditor
- HOUSTON, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech'' or “Freight Technologies'' or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced that it has changed its independent registered public accounting and auditing firm from Marcum LLP (“Marcum” or “Former Auditor”) to TAAD LLP (“TAAD” or Successor Auditor”), effective immediately.
- 01/10/2025
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Rail Vision Receives Purchase Order from One of the Leading Central America Freight Rail Operators
- Ra'anana, Israel, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Rail Vision Ltd. (Nasdaq: RVSN) (the “Company”), a technology company at the forefront of revolutionizing railway safety and the data-related market, has received a purchase order for its MainLine product from one of the leading Central America freight operators. This purchase order will support a proof of concept (POC) aimed at demonstrating the MainLine's advanced capabilities in enhancing rail safety and operational efficiency.
- 01/10/2025
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Old Dominion Freight Line to Webcast Fourth Quarter and Year-End 2024 Conference Call
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) announced today that it plans to release its fourth quarter and year-end 2024 financial results before opening of trading on Wednesday, February 5, 2025. The Company will also hold a conference call to discuss its financial results and outlook at 10:00 a.m. (Eastern Time) on Wednesday, February 5, 2025. An online, real-time webcast of Old Dominion's quarterly conference call will be available at ir.odfl.com on We.
- 01/08/2025
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Werner Grapples With Weak Freight Market and Rising Expenses
- WERN is grappling with supply-chain disruptions and escalated operating expenses.
- 12/24/2024
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Landstar Continues to Grapple With Weakness in Freight Market
- Weakness in overall volumes due to headwinds like weak freight demand, supply-chain woes and slower network velocity are hurting LSTR's top line.
- 12/20/2024
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Old Dominion Freight Line: A Dividend Grower That Should Benefit From Lower Interest Rates
- Old Dominion Freight Line faces headwinds from high interest rates, but resilient financials and expected earnings growth in 2025 and beyond make it a strong long-term investment. Despite higher operating costs, ODFL's solid dividend growth, low debt, and strong cash flow highlight its financial strength and astute capital allocation. The stock appears overvalued with a forward P/E of 37.01x, suggesting investors should consider adding on market corrections or crashes.
- 12/20/2024
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Freight Technologies Announces Adjournment of Annual Meeting of Stockholders
- HOUSTON, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced that the Company has adjourned its 2024 Annual Meeting of Stockholders (the "Annual Meeting"), originally scheduled to be held on December 12, 2024, to Friday, December 13, 2024 at 1pm, Monterrey, Mexico time, in order to provide stockholders additional time within which to vote on all proposals.
- 12/12/2024
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Freight Technologies Selected by Nestlé Mexico to Provide Domestic Logistics Services
- HOUSTON, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced that global food and beverage leader, Nestlé Mexico, has selected Fr8App to support its domestic logistics operations.
- 12/09/2024
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Freight Technologies Provides Update on its Public Filings Procedures
- HOUSTON, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced updates to its public filing procedures.
- 12/06/2024
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Old Dominion Freight Line Provides Update for Fourth Quarter 2024
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for November 2024. Revenue per day decreased 8.2% as compared to November 2023 due to an 8.0% decrease in LTL tons per day and a slight decrease in LTL revenue per hundredweight. The decrease in LTL tons per day was attributable to a 6.8% decrease in LTL shipments per day and a 1.2% decrease in LTL weight per shipment. For the quarter-to-date pe.
- 12/03/2024
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3 Air-Freight & Cargo Stocks to Keep an Eye On Amid Demand Woes
- Headwinds like weak demand, high inflation and geopolitical woes hurt the Zacks Transportation-Air Freight and Cargo industry. UPS, GXO and ATSG are likely to stand out.
- 11/29/2024
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Freight Technologies' Waavely Platform Sees Early Adoption Following Successful Launch
- HOUSTON, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, is pleased to announce that since its launch in July 2024, its digital ocean freight platform, Waavely, has already secured four active customers, demonstrating promising early demand, adoption and traction for this innovative solution.
- 11/11/2024
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Old Dominion Sets Freight Standard As Rivals Trail Behind
- Old Dominion Freight Line Inc ODFL just reaffirmed its status as the gold standard in less-than-truckload (LTL) freight, according to JPMorgan analyst Brian Ossenbeck, who recently pored over insights from the 2024 Mastio Survey.
- 11/08/2024
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Old Dominion Freight Line Announces Partnership with Folds of Honor
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line (OD) is proud to announce its partnership with Folds of Honor, a non-profit organization dedicated to providing educational scholarships to families of fallen or disabled US service members and first responders. OD's corporate donation will be directed to providing scholarship funding for students pursuing education in supply chain management, operations, transportation, or obtaining their commercial driver's license (CDL). In aligni.
- 11/08/2024
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Qantas Freight Joins Freightos, Expanding Trans-Pacific Capacity on Key US, Australia and New Zealand Routes
- BARCELONA, Spain , Nov. 5, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO) a leading, vendor-neutral booking and payment platform for the international freight industry, is proud to announce that Qantas Freight, the cargo division of Australia's national carrier Qantas, has joined its air cargo booking platform. This will enable freight forwarders to search, compare and book capacity across Freightos' WebCargo and 7LFreight by WebCargo platforms for all Qantas and Jetstar services between the US, Australia and New Zealand.
- 11/05/2024
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South Africa Freight Forwarding Industry Report 2024, with Profiles of 22 Players Including DHL, DSV South Africa, Megafreight Services, Rohlig-Grindrod, Safcor Freight and Santova Logistics
- Dublin, Nov. 05, 2024 (GLOBE NEWSWIRE) -- The "Freight Forwarding Industry in South Africa 2024" report has been added to ResearchAndMarkets.com's offering.
- 11/05/2024
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Titanium Transportation Opens its 8th US Freight Brokerage Office in Virginia
- Addition of Virginia office expands Titanium's North American network to 11 locations – eight (8) in the United States and 3 in Canada – enhancing its customer base and supporting continued growth Addition of Virginia office expands Titanium's North American network to 11 locations – eight (8) in the United States and 3 in Canada – enhancing its customer base and supporting continued growth
- 11/04/2024
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Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock
- Old Dominion Freight Line, Inc. ODFL shares are trading slightly lower on Friday. BMO Capital Markets analyst Fadi Chamoun downgraded the company to Market Perform from Outperform and lowered the price target to $210 from $214.
- 10/18/2024
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Old Dominion Freight Line Named #1 National LTL Carrier for Quality by Mastio & Company for 15th Consecutive Year
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (OD), a leading less-than-truckload (LTL) motor carrier, has been named the #1 National LTL Carrier for Quality by Mastio & Company for an unprecedented 15th consecutive year. The comprehensive industry study of LTL carriers ranked OD as the top carrier for quality according to logistics professionals surveyed on carrier performance for 15 straight years, dating back to 2010. Mastio & Company conducts an annual independ.
- 10/16/2024
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Union Pacific Banks on Dividends Amid Freight Challenges
- Union Pacific's efforts toward innovation and technology are boosting the company's prospects. However, the freight downturn represents a major headwind.
- 10/11/2024
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Freight Technologies Regains Compliance with Nasdaq Listing Requirements
- HOUSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, today announced that on October 9, 2024 it received written notice from the Listing Qualifications Staff of the Nasdaq Stock Market (“Nasdaq”) stating that the Company regained compliance with the minimum bid price requirement (“Minimum Bid Price Requirement”) set forth in Nasdaq Listing Rule 5550(a)(2) and that the matter is now closed.
- 10/10/2024
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J.B. Hunt and UP.Labs Unite to Establish Logistics Venture Lab to Fuel the Next Wave of Innovation in Logistics and Freight
- BENTONVILLE, Ark.--(BUSINESS WIRE)--At the UP.Summit, J.B. Hunt Transport Inc., one of the largest supply chain solutions providers in North America, and UP.Labs, a first-of-its-kind venture lab unlocking the future of transportation and mobility, announced their establishment of the Logistics Venture Lab (LVL). The logistics and freight-focused lab will aim to launch as many as six startups over the next three years to solve core strategic challenges within the industry. The startups, the firs.
- 10/02/2024
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Cass Information Systems Receives GSA Multiple Award Schedule Contract for Freight Audit and Payment
- ST. LOUIS--(BUSINESS WIRE)--Cass Information Systems, Inc. (Nasdaq: CASS) (Cass), a leading provider of global payment solutions, has received a Multiple Award Schedule contract with the General Services Administration (GSA). This pre-approved contract enables government and federal agencies to efficiently award business to Cass for freight audit and payment services for all transportation modes. Cass, a provider of payment solutions for diverse spend categories, processed $90B in payables in 2.
- 10/02/2024
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InnoTrans 2024: CRRC Showcases Next-Gen Freight Technologies
- Leading the Charge in Efficient, Sustainable Heavy Haulage BERLIN , Sept. 26, 2024 /PRNewswire/ -- At this year's InnoTrans, CRRC Corporation Limited ("CRRC", SHA: 601766) took center stage with its On Track for A Low Carbon Future theme, introducing a suite of heavy-haul fast and eco-friendly freight transportation solutions at its booth, located at Stand 210, Hall 4.2 of Messe Berlin in Berlin, Germany.
- 09/26/2024
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Covenant Logistics Receives U.S. EPA 2024 SmartWay Excellence Award
- Award Recipients are Top Environmental Performers and Leaders for Freight Supply Chain Efficiency Award Recipients are Top Environmental Performers and Leaders for Freight Supply Chain Efficiency
- 09/26/2024
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Old Dominion Freight Line to Webcast Third Quarter 2024 Conference Call
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) announced today that it plans to release its third quarter 2024 financial results before opening of trading on Wednesday, October 23, 2024. The Company will also hold a conference call to discuss its financial results and outlook at 10:00 a.m. (Eastern Time) on Wednesday, October 23, 2024. An online, real-time webcast of Old Dominion's quarterly conference call will be available at ir.odfl.com on Wednesday, Octob.
- 09/25/2024
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Freight Technologies Announces 1-for-25 Reverse Stock Split
- HOUSTON, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, announced today that the board of directors of the Company approved a one (1) for twenty-five (25) reverse split of its issued and outstanding ordinary shares, no par value (the “Ordinary Shares”). The Company's Ordinary Shares will begin trading on a split adjusted basis on September 25, 2024.
- 09/23/2024
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Reysaş Logistics: A Way To Capitalize On Freight Hub Development In Turkey
- Reysaş Logistics has shown a 50% gain, outperforming the S&P 500's 19%, and is currently undervalued by around 23% based on EV/EBITDA metrics. Challenges include poor investor relations website functionality and liquidity issues on OTC markets, but higher liquidity is available on Borsa Istanbul. Currency fluctuations and inflation in Turkey pose risks, but Reysaş's dollar/euro-denominated contracts offer some protection against Turkish Lira depreciation.
- 09/19/2024
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Freight Technologies Secures Win with Bayer
- Fr8App expands cross-border truckload services with several lanes awarded by Bayer CropScience LP Fr8App expands cross-border truckload services with several lanes awarded by Bayer CropScience LP
- 09/11/2024
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Landstar Grapples With Weak Freight Market and Operating Expenses
- LSTR is affected by reduced demand for freight services and increased truck capacity.
- 09/06/2024
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Freight Technologies Reports Strong Preliminary 2024 Mid-Year Results and Announces Exciting Advances in its Product Offerings
- Revenue Growth, Enhanced Profit Margins, and Strategic Software Innovations Highlight Mid-Year Performance Revenue Growth, Enhanced Profit Margins, and Strategic Software Innovations Highlight Mid-Year Performance
- 09/05/2024
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Old Dominion Freight Line Provides Update for Third Quarter 2024
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for August 2024. Revenue per day decreased 5.2% as compared to August 2023 due to a 6.1% decrease in LTL tons per day that was partially offset by an increase in LTL revenue per hundredweight. The change in LTL tons per day was attributable to a 5.0% decrease in LTL shipments per day and a 1.1% decrease in LTL weight per shipment. For the quarte.
- 09/04/2024
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Freight Technologies Announces Extinguishment of $1.1M of Outstanding Debt and Convertible Notes
- HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a technology company offering its custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning that offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, today announced that it has reached an agreement with Freight Opportunities LLC to extinguish $906K of outstanding promissory notes and accumulated interest and the remaining balance of Convertible Notes held on Freight Technologies' June 30, 2024 balance sheet at $220K. Freight Opportunities remains an equity investor in the Company.
- 09/03/2024
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3 Air-Freight & Cargo Stocks to Watch in a Thriving Industry
- Shareholder-friendly moves and cost-cutting initiatives bode well for the Zacks Transportation-Air Freight and Cargo industry. FDX, GXO and ATSG are well-poised to capitalize on the bullishness.
- 09/02/2024
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Vertical Farming Market Forecast Report 2024-2029, Featuring Profiles of AeroFarms, Grow Pod Solutions, Grodan, Koninklijke Philips, Sky Greens, UrbanKisaan, Kroptek and Freight Farms
- Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Vertical Farming Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering. The vertical farming market is estimated to grow from US$9.742 billion in 2024 to US$18.690 billion in 2029 at 13.92% (CAGR). The increasing need for food to feed the population will increase the demand for vertical farming since it is possible to grow fruits and vegetables all year given in different weather & climates at lower labor and raw material costs. Major economies globally are investing in such technology, which has led to the implementation of various vertical farming projects.
- 09/02/2024
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Freightos Acquires Shipsta, Expanding Comprehensive Digital Freight Procurement Solution
- Strategic acquisition broadens Freightos' digital freight-booking vision by pairing Freightos' spot offering with Shipsta's best-of-breed tender management platform. Deal accelerates revenue growth and reaching breakeven with cash on hand.
- 08/19/2024
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Why Old Dominion Freight Line Stock Hit the Accelerator in July
- Old Dominion topped quarterly earnings expectations despite a continued soft operating environment. It could take a while for the trucking slump to end, but Old Dominion is well positioned to survive and thrive when demand improves.
- 08/02/2024
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C.H. Robinson Stock Soars as Cost Controls Lift Freight Transporter's Earnings
- C.H. Robinson Worldwide (CHRW) shares delivered major gains after the freight transportation and logistics firm posted better-than-expected quarterly profits, boosted by the implementation of a new, cost-efficient operating model. The second quarter of 2024 marked the second consecutive period that the supply chain specialist has exceeded earnings forecasts.
- 08/01/2024
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Freight demand is weak, but cost cuts help C.H. Robinson boost profits.
- Shares of shipping logistics provider C.H. Robinson Worldwide Inc. rallied on Wednesday after the company reported a second-quarter adjusted profit that topped Wall Street's estimates, helped by tighter operations in its key North American transportation services.
- 07/31/2024
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Vita Coco: Freight Issues Create Expected Q2 Profitability Hiccup
- The Vita Coco Company, Inc.'s Q2 results are expected to show moderate growth once again, but pressured margins due to temporarily high and turbulent freight costs. The 2024 hiccup in growth created by a private label deal's ending, and the freight cost hiccup, don't disturb Vita Coco's underlying strong demand momentum over the long term. The stock's valuation remains balanced ahead of Q2 earnings.
- 07/24/2024
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Old Dominion Freight Line Reports Second Quarter 2024 Earnings Per Diluted Share of $1.48
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced financial results for the three-month and six-month periods ended June 30, 2024. All prior-period share and per share data in this release have been adjusted to reflect the Company's March 2024 two-for-one stock split. Three Months Ended Six Months Ended June 30, June 30, (In thousands, except per share amounts) 2024 2023 % Chg. 2024 2023 % Chg. Total revenue $ 1,.
- 07/24/2024
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Marten Transport: On A Road To Recovery Navigating A Freight Recession
- Marten Transport is a transportation and logistics company specializing in long-haul trucking and refrigerated transport services across North America. Over the last few quarters, the company has been navigating through challenging market conditions with a commitment to improving profitability. The company is well-positioned with a solid balance sheet and ample liquidity, which should bode well if the freight recession lasts longer than expected.
- 07/15/2024
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Freight Technologies Launches Waavely, a Revolutionary Digital Ocean Freight Platform
- HOUSTON, July 08, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech” or “Freight Technologies”),a technology-driven logistics company offering Fr8App, its proprietary and industry-leading freight-matching platform powered by AI and machine-learning that provides a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, announced today the official launch of Waavely, a state-of-the-art platform designed to revolutionize ocean freight booking and management for companies shipping containers between North America and ports around the world. Waavely is live and currently available with the platform already successfully handling ocean freight.
- 07/08/2024
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Old Dominion Freight Line: One Of My Favorite Dividend Growth Stocks Could Take Off
- Old Dominion Freight Line, Inc. is a standout in the trucking industry with unique strengths in the less-than-truckload segment. Impressive growth, efficient operations, and strong financials have positioned Old Dominion Freight Line for continued success despite the recent stock price dip. Potential demand recovery could lead to strong returns and dividend growth, making Old Dominion Freight Line stock a promising investment opportunity.
- 07/02/2024
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Old Dominion Freight Line to Webcast Second Quarter 2024 Conference Call
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) announced today that it plans to release its second quarter 2024 financial results before opening of trading on Wednesday, July 24, 2024. The Company will also hold a conference call to discuss its financial results and outlook at 10:00 a.m. (Eastern Time) on Wednesday, July 24, 2024. An online, real-time webcast of Old Dominion's quarterly conference call will be available at ir.odfl.com on Wednesday, July 24, 2.
- 06/26/2024
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Freight Technologies, Inc. Expands Business Relationship with Amazon Mexico
- HOUSTON, June 20, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT), (“Fr8Tech”), a technology driven logistics company powered by its proprietary AI and machine learning Fr8App platform that uniquely provides a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, today announces the expansion of its relationship with Amazon Mexico to include cross-border logistics operations. As a result of the expansion, Fr8App now provides dual logistic services for Amazon Mexico.
- 06/20/2024
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Freight Technologies Inc. Participates in Chardan's Transport Platform Tech Series
- Our platform makes the process of delivering goods more efficient by bringing intuitive technology to handle operations in a more streamlined way Our platform makes the process of delivering goods more efficient by bringing intuitive technology to handle operations in a more streamlined way
- 06/14/2024
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Golden Triangle Ventures Announces Launch of Its Freight Brokerage Division with Full Financial Support
- LAS VEGAS, June 14, 2024 (GLOBE NEWSWIRE) -- via IBN -- Golden Triangle Ventures, Inc. (OTC PINK: GTVH) (“GTV” or the “Company”) is excited to announce it has received financial commitment to launch an internal, full-service freight brokerage business which aims to significantly expand its logistics capabilities. This initiative follows the successful acquisition of Cargo Management Group from TK Zarro, LLC which included a logistics operation, brokerage business, licenses, and all associated assets. Management is working to complete the full transition of Cargo Management Group and its logistics brokerage operation that can provide an additional income stream with a strong growth potential.
- 06/14/2024
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3 Air-Freight & Cargo Stocks to Watch in a Promising Industry
- Shareholder-friendly moves and cost-cutting initiatives bode well for the Zacks Transportation-Air Freight and Cargo industry. UPS, FDX and GXO are well-poised to capitalize on the bullishness.
- 06/12/2024
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Why Is Freight Technologies (FRGT) Stock Up 86% Today?
- Freight Technologies (NASDAQ: FRGT ) stock is rocketing higher on Thursday after the transportation logistics technology company provided an update to its customers and carriers in 2024. According to a press release from Freight Technologies, it has added 26 new customers and 149 new carriers to its platform since the start of the year.
- 06/06/2024
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Freight Technologies Adds 26 New Customers and 149 New Carriers in 2024
- HOUSTON, June 06, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (“Freight Technologies”, “Fr8Tech” or the “Company”) (NASDAQ: FRGT), an innovative logistics technology solutions company offering its custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine learning that offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, is proud to announce it has on-boarded 26 new customers and 149 new carriers to its platform year-to-date. Javier Selgas, Chief Executive Officer of Freight Technologies, commented, “The addition of new customers to our platform further demonstrates the need for greater efficiency and transparency in the freight, over-the-road (OTR) marketplace.
- 06/06/2024
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Old Dominion Freight Line Provides Update for Second Quarter 2024
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for May 2024. Revenue per day increased 5.6% as compared to May 2023 due to a 1.5% increase in LTL tons per day and an increase in LTL revenue per hundredweight. The change in LTL tons per day was attributable to a 2.3% increase in LTL shipments per day that was partially offset by a 0.7% decrease in LTL weight per shipment. For the quarter-to-d.
- 06/05/2024
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Polestar Reduces Supply Chain Emissions Through Integration of Renewable Fuels for Ocean Freight
- GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) is taking the next steps in reducing its supply chain emissions by integrating renewable fuels on its ocean freight routes, which account for around 75% of Polestar's total transportation emissions. Polestar is now also operating its Vehicle Processing Center (VPC) in Belgium on 100% renewable electricity. The VPC acts as a finishing and preparation point for vehicles before delivery to European customers, including charging them with.
- 06/05/2024
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Jacobs Selected to Design Critical Freight Corridor in Washington State
- Project will ease travel congestion and improve access to Sea-Tac Airport and Port of Seattle DALLAS , June 4, 2024 /PRNewswire/ -- Jacobs (NYSE:J) was selected by the Washington State Department of Transportation as lead designer for the SR 509 Stage 2 Completion Project. This project, part of the Puget Sound Gateway Program, will complete a crucial part of the state's transportation network between I-5 and SR 509, creating vital links between the Port of Seattle and manufacturing and distribution centers in the Kent Valley, ending near Sea-Tac Airport.
- 06/04/2024
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Freight Technologies, Inc., receives notification from NASDAQ
- HOUSTON, May 24, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, Fr8Tech or Company), a technology company developing solutions to optimize and automate the supply chain process and providing its Fr8App platform for B2B cross-border shipping in the USMCA region, announced that it received written notification on May 22, 2024, from The Nasdaq Stock Market LLC that it no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Capital Market pursuant to the Nasdaq Listing Rule 5550(a)(2).
- 05/24/2024
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Forward Air Announces Leadership Transition
- GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or the “Company”) today announced the appointment of Jamie G. Pierson as interim Chief Financial Officer effective May 20, 2024. Mr. Pierson succeeds Rebecca Garbrick, who is departing the Company. Ms. Garbrick will remain with the Company to assist with the transition. “On behalf of the Board of Directors, I want to thank Rebecca for her commitment and significant contributions over the last several years. Since taking the CFO role in 2020, Rebecca has been a valuable member of our management team, and we wish her much success in her future endeavors,” stated Shawn Stewart, CEO. He continued, “We are excited to have Jamie step in to lead, and provide strategic insight, to the finance team during this critical time. Jamie is a seasoned executive with extensive experience in transportation and logistics, which coupled with his demonstrated track record in several financial leadership positions, make him a valuable addition to the Forward team.” Mr. Pierson joins Forward having most recently served as Chief Financial Officer of MV Transportation, a privately-owned passenger transportation contracting services firm in North America, until January 2024. Prior to joining MV Transportation, Mr. Pierson held various senior leadership positions including Executive Vice President and Chief Financial Officer of Ecobat Technologies and YRC Worldwide, Inc. Forward has initiated a search for a CFO with the assistance of an executive search firm. About Forward Air Corporation Forward Air is a leading asset-light provider of transportation services across the United States, Canada and Mexico. We provide expedited less-than-truckload services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals. In addition, we offer truckload brokerage services, including dedicated fleet services, and intermodal, first- and last-mile, high-value drayage services, both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services. Forward also operates a full portfolio of multimodal solutions, both domestically and internationally, via Omni Logistics. Omni Logistics is a global provider of air, ocean and ground services for mission-critical freight. We are more than a transportation company. Forward is a single resource for your shipping needs. For more information, visit our website at www.forwardaircorp.com. Note Regarding Forward-Looking Statements This press release may contain statements that might be considered as forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate”, “expect”, “intend”, “plan”, “goal”, “target”, “project”, “believe”, “may”, “should”, “will”, “aim”, “would”, “seek”, “estimate”, “strategy”, “future”, “likely” and similar references to future periods. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties including the Company’s expectations regarding the appointment of senior management positions. Actual events may also differ from these expectations as a result of the risks identified from time to time in our filings with the Securities and Exchange Commission. You should consider the forward-looking statements contained herein in light of such risks. We assume no duty to update these statements as of any future date.
- 05/20/2024
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ConMet Unveils Latest Freight Efficiency Technologies at ACT Expo 2024
- LAS VEGAS, NV / ACCESSWIRE / May 20, 2024 / ConMet, a leader in sustainable solutions for the transportation industry, is proud to showcase its latest freight efficiency technologies at ACT Expo 2024. From May 20-23, attendees can visit ConMet's booth, number 1220, at the Las Vegas Convention Center to explore these cutting-edge advancements. ConMet booth at ACT Expo 2024Among the impressive technologies on display are the Nmotion™ in-wheel power generators, TruckWings® active aerodynamics, PreSet Plus® wheel ends, interior and exterior plastic systems, and lightweight cast components. These technologies highlight ConMet's commitment to revolutionizing the freight industry by increasing efficiency and reducing environmental impact.The Nmotion TR series of power generators for refrigerated trailers is a game-changer for improving freight efficiency in commercial vehicles. Utilizing in-wheel electric motors, this technology generates power that can be used to operate an electric transport refrigeration unit (eTRU). As a result, refrigerated trailers can achieve zero emissions, eliminating fuel costs and CO2 output. A complete Nmotion system will be on display at ACT Expo on a Carrier Transicold Vector eCool trailer.TruckWings technology, another standout product on display, enhances freight efficiency by automatically closing the gap between the tractor and trailer at highway speeds. This innovative solution improves aerodynamics, resulting in an average 3-6% increase in vehicle efficiency, no matter the fuel source. With TruckWings, ConMet empowers fleets to achieve significant fuel savings and reduce their carbon footprint or extend the mileage range on EV trucks.A Freightliner eCascadia, provided by Knight-Swift Transportation, will be on display in the ConMet booth during ACT Expo showcasing the TruckWings product on an electric truck. ACT Expo attendees are invited to stop by and see the device in action.In addition to these groundbreaking advancements, ConMet's PreSet Plus wheel ends offer a range of benefits for the freight industry. Constructed with lightweight aluminum, these wheel ends reduce the overall weight of the vehicle, leading to increased fuel efficiency. ConMet is also taking the next step in wheel end technology, with reengineered seals and bearings to further reduce rolling resistance, enhancing vehicle efficiency even more.ConMet's commitment to sustainability is further exemplified by the use of interior and exterior plastic systems, which can replace metal components in some cases for weight reduction. Non-structural plastic parts can also be made with sustainable fillers for additional carbon offset in production.Visit booth 1220 at the Las Vegas Convention Center from May 20-23 to discover how ConMet is revolutionizing freight efficiency through its commitment to providing transformative and sustainable solutions to the commercial vehicle industry.About ConMet ConMet, a division of Amsted Industries, is a leading global provider to original equipment manufacturers and aftermarket channels in the commercial vehicle industry. From wheel ends, cast metal components, and plastic systems to zero-emission technologies, automated aerodynamic devices, and IoT solutions, ConMet helps move the industry forward. Today, ConMet products are standard equipment on most heavy-duty vehicles in North America and have a growing footprint worldwide. Contact InformationDavid Brierley Media Relations Manager marketing@conmet.com 360 409 6570 SOURCE: ConMetView the original press release on newswire.com.
- 05/20/2024
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April Cass Data Shows No Improvement in Freight Demand
- The shipments component of the Cass Freight Index fell again in the month, down 1.6% seasonally adjusted from March and 4% lower year over year (y/y). The Tuesday data showed volumes were hovering around the late 2023-January 2024 cycle trough. The April reading was the lowest since January, which is typically the slowest part of the year and weaker than normal this year due to severe winter storms. A later Lunar New Year and the Baltimore bridge collapse were cited as detractors to demand during the month. The report also said additions to private fleets are negatively impacting results at the for-hire fleets. "Private fleets are now more actively competing for spot freight to fill empty backhauls, lengthening below-trend for-hire demand levels" the report said. The y/y comparisons for the shipments index get easier in the coming months. The forecast is for the data set to decline 3% y/y in May. A prior forecast called for the index to turn positive by June, but that appears in jeopardy now. Table: Cass Information Systems (SA – seasonally adjusted) Cass' expenditures index, which measures all dollars spent on freight including fuel surcharges and accessorial charges, fell 16.8% y/y in April and 1.9% from March on a seasonally adjusted basis. Backing out the decline in shipments implies rates were off 13% y/y in the month, which was the smallest decline in implied rates since last May. The y/y comps also get easier this summer. The index is expected to decline 16% y/y in the first half of 2024 and 10% for the full year. The Truckload Linehaul Index, which excludes changes in fuel and accessorial charges, declined 3.8% y/y but ticked 0.1% higher than the March reading. The TL rate index includes both spot and contract freight. It has largely been flat for the past year. "With spot rates steady over the past several months, downward pressure on the larger contract market is lessening, with some instances of contract rate increases bucking the downtrend recently" the report said. The linehaul index's two-year-stacked comp (to April 2022) was down more than 15%, which was the biggest decline ever recorded in the data set. "Goldilocks economic conditions of strong growth and disinflation are largely holding, a rising tide which eventually should lift all boats" the report said. "But at the moment, the freight growth being generated by the economy is being handled by railroads and private fleets." Data used in the indexes is derived from freight bills paid by Chart: (SONAR - NTIL.USA). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. The post April Cass data shows no improvement in freight demand appeared first on FreightWaves.
- 05/20/2024
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Nearshoring to Continue Boosting Cross-Border Trucking in 2024
- Nearshoring to continue boosting cross-border trucking in 2024 With ongoing economic tensions between the United States and China, companies looking to relocate parts or all of their supply chains continue to look to Mexico, according to data compiled by Uber Freight. The managed transportation and freight technology provider recently released its "Q2 Market Update & Outlook Report" which discusses the biggest economic trends impacting supply chains. The report sees continued resilience in cross-border trade between the U.S. and Mexico, boosted by nearshoring. "The nearshoring continues to bring new companies to Mexico" Ben Enriquez, Uber Freight's head of Mexico logistics and customs, told FreightWaves. "What we're seeing right now is that there are a lot of companies that are still being established in Mexico. Many companies that last year confirmed that they were going to come to Mexico and establish themselves are settling in, and they are building factories, they are building warehouses." According to Mexico's secretary of the economy (SE), there were 378 foreign direct investment (FDI) announcements last year, totaling over $6.4 billion. Private sector businesses from the U.S. were the top investors in Mexico, accounting for 38% of FDI. China was ranked second at 12%, followed by Denmark (9%), Australia (7%) and South Korea (6%). Mexico hit a new record for FDI in the first quarter of 2024, increasing 9% year over year to $20.3 billion, according to SE. Enriquez said while nearshoring continues to flourish in Mexico, many factories and facilities are still under construction, which could play a large role in cross-border capacity down the road. "Now, we have not seen the full effect of nearshoring, because there are many companies that are in the process of expanding or in the process of opening new facilities" Enriquez said. "That means that they have to get the land, build and hire people, and bring the machinery. It's a two-to-three-year process. In the U.S., commercial transportation is soft. But we're starting to see new customers that are shipping to the U.S. We're going to continue seeing that." Last year, Mexico replaced China as the top U.S. trading partner. Trade between the U.S. and Mexico totaled $798 billion in 2023. In the first quarter of 2024, trade between Mexico and the U.S. totaled $200.1 billion, a 1.7% year-over-year increase. Enriquez said while Uber Freight expects to see more exports from Mexico to the U.S. this year, headwinds to cross-border freight movements include driver shortages in Mexico, as well as continued cargo theft across the country's roadways. "Historically, Mexico did not have driver shortages, but three or four years ago, the shortage started and was even more pronounced because many of the domestic Mexico drivers started to get their B-1 visa permits" Enriquez said. "They started driving for B-1 carriers, and the B-1 carriers started ramping up operations at U.S.-Mexico border crossing points. Many of the drivers that were driving in from Mexico are now driving for U.S. companies." Mexico's trucking industry currently has as many as 56,000 unfilled driver positions, a 9% year-over-year increase compared to the same period in 2023, according to a recent report from the International Road Transport Union. "Mexican trucking companies are losing drivers to the U.S. because they are getting paid three to four times more than what they get paid for domestic driving" Enriquez said. "Mexican carriers have had to increase salaries to try to keep their drivers. We continue to see that as a problem. Some states like Nuevo Leon and cities like Monterrey that in the past didn't have those issues, now they have them. We talked to our carrier partners, and we know that they're struggling with drivers." Cargo security also continues to be a major issue for the freight transport industry in Mexico. In April, Mexico averaged about five cargo truck thefts per day, totaling 153 incidents across the country's roadways, according to the National Association of Vehicle Tracking and Protection Companies (ANERPV). Tractor-trailer thefts in April increased 7.7% from the same month last year. ANERPV reported a total of 546 tractor-trailer thefts from January through April, a 5% year-over-year increase. Enriquez noted that while cargo security is a problem in the U.S. and Mexico, the key distinction is the use of violence. "The big difference between the U.S. and Mexico is that in the U.S. there's identity theft; it's more technological" Enriquez said. "In Mexico, they hijack the trucks. They are stopped by two or three cars by people with guns. They jam the GPS, they take the truck. We're seeing some gangs that are dedicated to getting some specific goods from factories and reselling them." To secure cross-border capacity as demand increases over the next several quarters, Uber Freight recommends shippers form long-term commitments with carriers. "I would say there is still capacity available and there are good carriers out there that can provide capacity service" Enriquez said. "This is a good time to negotiate long-term rates that are decent rates for carriers. I have always recommended diversified modes of transportation, like intermodal." Mexico's trucking industry currently has as many as 56,000 unfilled driver positions, according to the International Road Transport Union. (Photo - Jim Allen/FreightWaves) Careismatic Brands to close two Dallas distribution hubs, lay off 404 employees Careismatic Brands is permanently closing two distribution centers in Dallas and laying off 404 workers, according to a filing with the Texas Workforce Commission. The company cited "changing business needs" for the closure of the two facilities. The distribution hub's closure comes just over a year after the medical apparel seller consolidated its shipping operations in Dallas. The facility was intended to centralize the manufacturer's distribution in the U.S., Mexico, parts of Canada and Latin America. California-based Careismatic Brands is one of the largest makers of medical apparel and school uniforms and employs over 700 people in six countries. ITS Logistics to open office in Fort Worth ITS Logistics will open an office in Fort Worth, Texas, for its newly released ContainerAI container management and visibility platform. The Fort Worth City Council recently voted to approve a three-year grant of up to $847,500 to ITS Logistics, according to Forth Worth Report. In return for the grant, ITS Logistics is required to lease at least 15,000 square feet of office space by June 30 and invest $1 million in the facility. The company also must create between 250 and 339 full-time jobs by Dec. 31, 2027. ContainerAI is an AI-driven offering aimed at providing network engineering, specialized industrial services, drayage, intermodal, cross dock and container management solutions to customers in every major port and rail market across North America. Reno, Nevada-based ITS Logistics is a 3PL providing supply chain solutions across the U.S. Aztema begins construction of $240M tire plant in Mexico Aztema Rubber and Tire Manufacturing recently began construction of a $240 million tire manufacturing facility in the Mexican city of Irapuato, according to Cluster Industrial. The factory will create a total of 1,400 direct and indirect jobs. The facility will have an annual production capacity of 6 million semi-steel radial tires. Construction is scheduled to be completed by the end of the year. Aztema is a joint venture between China-based Sailun Tire and Mexico-based Tire Direct. The joint venture was announced in December. Sailun Tire is based in Qingdao, China, and manufactures tires for passenger and commercial vehicles. Tire Direct is based in Leon, Mexico. The company is one of Mexico's largest tire distributors. The post Borderlands Mexico: Nearshoring to continue boosting cross-border trucking in 2024 appeared first on FreightWaves.
- 05/20/2024
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Old Dominion Freight Line Announces $0.26 Per Share Quarterly Cash Dividend
- THOMASVILLE, N.C.--(BUSINESS WIRE)--Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced that its Board of Directors has declared a quarterly cash dividend of $0.26 per share of common stock, payable on June 19, 2024, to shareholders of record at the close of business on June 5, 2024. After giving effect to the Company's March 2024 two-for-one stock split, this dividend payment represents a 30% increase to the quarterly cash dividend paid in June 2023. Forward-looking statements in th.
- 05/20/2024
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Freight Technologies, Inc. Reports Financial Results for Fiscal Year 2023
- Annual revenue of $17.1 million with 48% year-over-year growth for Fr8Fleet Annual revenue of $17.1 million with 48% year-over-year growth for Fr8Fleet
- 05/09/2024
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Freight Technologies, Inc. Reports 30% Year-over-Year Revenue Growth and Strong Fr8Fleet Volumes for Q1 2024
- 30% Year-over-Year Total Revenue Growth and 278% Year-over-Year Volume Growth in Fr8Fleet 30% Year-over-Year Total Revenue Growth and 278% Year-over-Year Volume Growth in Fr8Fleet
- 04/22/2024
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Fr8App Selected by Grupo Solave for Cross-Border Logistics Services
- HOUSTON, April 17, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed, industry-leading Fr8App freight-matching platform offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, announces its appointment as Solave's logistics solutions provider for cross-border operations. Solave, recognized for its leadership in the Blue Agave market with achievements such as becoming a global leader in Agave Syrup production, a frontrunner in cultivating Blue Agave plants in Mexico, and a reputable Tequila producer for notable brands, aims to benefit from optimized logistics and supply chain efficiency through Fr8App's platform.
- 04/17/2024
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Freight Technologies, Inc. Preliminary Results for Q4 2023 Show Strong Revenue Growth
- Results include 16% Year-over-Year Revenue Growth and Year-over-Year YTD Margin Improvement Results include 16% Year-over-Year Revenue Growth and Year-over-Year YTD Margin Improvement
- 03/25/2024
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Fr8App's Innovative Platform Transforms Cross-Border Shipping for Riisa
- Freight Technologies streamlines logistics for timely and flawless deliveries, saving time and costs Freight Technologies streamlines logistics for timely and flawless deliveries, saving time and costs
- 03/20/2024
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2 Air-Freight & Cargo Stocks to Watch Despite Industry Woes
- The Zacks Industry Rank for the Transportation-Air Freight and Cargo industry paints a poor picture. Braving the headwinds, UPS and GXO are worth being on investors' radar.
- 03/19/2024
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This Freight Stock Just Got an Upgrade and Institutional Buyers
- Investment houses like The Goldman Sachs Group Inc. NYSE: GS have an average winning ratio of over 85% in their trading business. You can wonder how they achieve these results, or you can rest assured that their idea-generation process relies heavily on a “top-down” analysis.
- 03/13/2024
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Why Is Freight Technologies (FRGT) Stock Up 25% Today?
- Freight Technologies (NASDAQ: FRGT ) stock is rising higher on Monday after the transportation logistics technology company announced a collaboration with packaging company Envases Universales. A press release from Freight Technologies notes that its freight-matching platform Fr8App was granted several key routes by Envases Universales.
- 02/26/2024
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Fr8App Awarded Key Routes with Envases Universales
- Fr8App Secures Strategic Routes with Envases Universales for Logistics Services, Valued at More Than $5 Million Dollars Fr8App Secures Strategic Routes with Envases Universales for Logistics Services, Valued at More Than $5 Million Dollars
- 02/26/2024
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Fr8Tech Regains Compliance with Nasdaq's Minimum Bid Price Listing Rule
- HOUSTON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed, industry-leading Fr8App freight-matching platform offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, previously announced that it received written notification on August 21, 2023, from The Nasdaq Stock Market LLC that it did not comply with the minimum bid price requirement for continued listing on the Nasdaq Capital Market pursuant to the Nasdaq Listing Rule 5550(a)(2) because the closing bid price for the Company's ordinary shares had fallen below $1.00 per share for 30 consecutive business days.
- 02/21/2024
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Fr8App Showcased at Geotab Connect 2024
- HOUSTON, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by artificial intelligence (“AI”) and machine-learning and offering a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, received a special invitation to participate in the prestigious Geotab Connect 2024 event. Geotab, a global leader in connected transportation solutions, is hosting its 7th annual event from February 14 to 16, 2024, taking place at Resorts World in Las Vegas.
- 02/15/2024
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Freight Technologies, Inc. Announces Key Leadership Changes
- Embarking on a New Chapter: Freight Technologies Inc. elevates former CFO Paul Freudenthaler to Board Director and welcomes Don Quinby as the new CFO, setting the stage for continued success and growth Embarking on a New Chapter: Freight Technologies Inc. elevates former CFO Paul Freudenthaler to Board Director and welcomes Don Quinby as the new CFO, setting the stage for continued success and growth
- 01/24/2024
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Freight Technologies Inc. Secures Contract with Kawasaki
- HOUSTON, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech''), a technology company specializing in the development of innovative solutions to optimize and automate the supply chain process through its custom-developed F8App platform, proudly announces the execution of a contract with Kawasaki Motores de Mexico for cross-border logistics services.
- 01/16/2024
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2 Air-Freight & Cargo Stocks to Watch in a Challenging Industry
- The Zacks Industry Rank for the Transportation-Air Freight and Cargo industry paints a sorry picture. Braving these headwinds are UPS and FDX, which investors might consider keeping on their radar.
- 01/02/2024
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Freight Technologies, Inc. Announces Conversion of $3.55M Convertible Debt to Equity
- Investor converts $3.55 million of convertible debt into preferred share equity Investor converts $3.55 million of convertible debt into preferred share equity
- 12/27/2023
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5 Investors Betting Big on Freight Technologies (FRGT) Stock
- Freight Technologies (NASDAQ: FRGT ) stock is up by about 200% today after the company announced that Amazon (NASDAQ: AMZN ) had chosen to renew its selection to use the Fr8App in Mexico. The app, powered by Freight's proprietary artificial intelligence (AI), provides business-to-business shipping services, such as route planning, live tracking and data analysis, within the U.S., Mexico and Canada.
- 12/14/2023
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Amazon Sends Freight Technologies (FRGT) Stock Soaring
- Freight Technologies (NASDAQ: FRGT ) stock is trending on social media, and its shares are jumping over 370% in pre-market trading after Amazon (NASDAQ: AMZN ) again selected the company to be its partner in Mexico. Freight Technologies describes itself as “a technology driven logistics company.
- 12/14/2023
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Why Is Freight Technologies (FRGT) Stock Up 120% Today?
- Freight Technologies (NASDAQ: FRGT ) stock is on the rise Thursday after the logistics company announced an agreement with Amazon (NASDAQ: AMZN ). That agreement will see Amazon Mexico making use of the company's Fr8App platform for its logistics needs.
- 12/14/2023
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Freight Technologies, Inc. Selected for Amazon Mexico Business
- Amazon Selects Fr8App Technology for Logistics Solutions in High-Demand Season Amazon Selects Fr8App Technology for Logistics Solutions in High-Demand Season
- 12/14/2023
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Freight Technologies, Inc. Announces Strong Q3 Preliminary Earnings
- Results include 27% Annualized Revenue Growth and 27% Year-over-Year YTD Margin Increase Results include 27% Annualized Revenue Growth and 27% Year-over-Year YTD Margin Increase
- 11/14/2023
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Best Penny Stocks To Buy? 5 With Big News This Week
- Are you searching for some of the best penny stocks to buy now? I'm sure that if you're reading this article, that's something at the top of your mind.
- 06/07/2023
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Why Is Freight Technologies (FRGT) Stock Up 25% Today?
- Freight Technologies (NASDAQ: FRGT ) stock is heading higher on Wednesday after announcing a record number of new clients in March. Freight Technologies says that its new shipping clients for March 2023 came after a challenge first quarter of the year.
- 04/05/2023
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FRGT Stock Alert: Why Is Freight Technologies Up 20% Today?
- Freight Technologies (NASDAQ: FRGT ) is trending, and FRGT stock is soaring over 20% today. The company signed a deal with Whirlpool's (NYSE: WHR ) Mexico division.
- 03/30/2023
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Don't Invest in Penny Stocks Until You've Learned These Tips
- Are you trading penny stocks with these tips? The post Don't Invest in Penny Stocks Until You've Learned These Tips appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.
- 11/15/2022
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5 Investors Betting Big on Freight Technologies (FRGT) Stock
- Freight Technologies (NASDAQ: FRGT ) stock is flying higher by more than 120% today after receiving a $2.25 price target from Chardan Capital Markets analyst Brian Dobson. This price target implies 300%-plus upside.
- 11/14/2022
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Freight Technologies, Inc., to Participate in H.C. Wainwright 24th Annual Global Investment Conference
- Chief Financial Officer Paul Freudenthaler and President Mike Flinker will present company's latest updates Chief Financial Officer Paul Freudenthaler and President Mike Flinker will present company's latest updates
- 09/14/2022
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