iShares Trust iShares U.S. Transportation ETF (BATS: IYT)

Últimas noticias sobre iShares Trust iShares U.S. Transportation ETF (BATS:IYT)

iShares Trust iShares U.S. Transportation ETF

iShares Transportation AverageETF

Industrials

The fund seeks to track the investment results of the Dow Jones Transportation Average Index (the Underlying Index), which measures the performance of large, well-known companies within the transportation sector of the U.S. equity market. The Underlying Index includes large-, mid- and small-capitalization companies and may change over time.

Union Pacific Corp

Uber Technologies Inc

United Parcel Service Inc

Fedex Corp.

Old Dominion Freight Line Inc.

Norfolk Southern Corp.

Csx Corp.

Delta Air Lines Inc.

Expeditors International Of Washington Inc.

Southwest Airlines Co.

United Airlines Holdings Inc.

iShares US Transportation ETF

Equities

News

Markets

Movers

Tech

General

BUYZ

iShares Dow Jones Transportation Average Index Fund

UBER

Las acciones de Uber suben tras la expansión de su asociación con Waymo. Nuevos servicios autónomos en Austin y Atlanta a partir de 2025.

Acciones de Uber suben tras expansión de asociación con Waymo

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading relatively flat on Thursday. Uber announced it has partnered with peer-to-peer car-sharing company Turo to upgrade the <a href="https://www.benzinga.com/pressreleases/25/05/n45442500/turo-and-uber-bring-peer-to-peer-car-sharing-to-uber-rent" target="_blank" rel="noreferrer noopener">Uber Rent experience for users in the U.S.</a>
This collaboration allows riders to access Turo's wide-ranging vehicle fleet, featuring over 1,600 makes and models, directly within the Uber app, offering more tailored and flexible rental options nationwide.
The integration supports both companies' efforts to modernize vehicle access and reduce dependence on traditional car ownership.
Also Read:<a target="_blank" href="https://www.benzinga.com/markets/25/05/45430250/tesla-rival-baidu-expands-apollo-go-robotaxi-to-europe-sets-sights-on-turkey-amid-rising-competition-report" rel="noreferrer noopener"> Tesla Rival Baidu Expands Apollo Go Robotaxi To Europe, Sets Sights On Turkey Amid Rising Competition: Report</a>
Andro Vrdoljak, Turo's Vice President of Business and Corporate Development, said the partnership reflects a "shared vision to unlock better car access for everyone."
Niraj Patel, Uber's Global Head of Consumer Vehicles, noted that adding Turo's carsharing options to the Uber app aligns with the company's mission to expand how people move.
He described it as a significant step forward in offering reliable and convenient travel alternatives.
On Wednesday, Uber disclosed a strategic partnership with iFood to enhance&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/25/05/45434327/uber-ifood-unite-in-brazil-to-offer-one-stop-app-convenience" rel="noreferrer noopener">convenience for millions of Brazilian consumers.</a>
This collaboration will enable iFood users to book Uber rides directly through the iFood application, while Uber users will gain access to iFood's delivery services for food, groceries, pharmacy items, and convenience goods within the Uber app.
This collaboration intends to make everyday tasks easier for Brazilians by providing access to both transportation and delivery services within two of their most frequently used apps.
JMP Securities analyst Andrew Boone reiterated the <a target="_blank" href="https://www.benzinga.com/quote/UBER/analyst-ratings" rel="noreferrer noopener">Market Perform</a> rating on Uber.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, UBER stock has gained over 35% in the past year. Investors can gain exposure to the stock via&nbsp;iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Price Action: UBER shares are trading lower by 0.19% to $90.24&nbsp;at the last check on Thursday.
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Photo by JHVEPhoto via Shutterstock

What's Going On With Uber Stock On Thursday?

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) on Wednesday disclosed a strategic partnership with iFood to enhance <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/b45418279/uber-and-ifood-announce-strategic-partnership-in-brazil" rel="noreferrer noopener">convenience for millions of Brazilian consumers</a>.
This collaboration will enable iFood users to book Uber rides directly through the iFood application, while Uber users will gain access to iFood&#8217;s delivery services for food, groceries, pharmacy items, and convenience goods within the Uber app.
This collaboration intends to make everyday tasks easier for Brazilians by providing access to both transportation and delivery services within two of their most frequently used apps.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/downgrades/25/05/45298819/uber-downgraded-as-analyst-sees-fewer-near-term-catalysts-after-strong-run" rel="noreferrer noopener">Uber Downgraded As Analyst Sees Fewer Near-Term Catalysts After Strong Run</a>
The rollout of integrated Uber and iFood services will begin in selected Brazilian cities in the second half of 2025, with a country-wide expansion to follow.
Uber&#8217;s current delivery options for businesses (Uber Direct) and parcels (Uber Flash) will continue to operate as they do now through the Uber app, utilizing Uber&#8217;s drivers and couriers.
Likewise, iFood&#8217;s delivery support for its restaurant and other partners, along with its &#8216;Sob Demanda&#8217; service for deliveries initiated outside the iFood app, will not undergo any changes due to this partnership.
Dara Khosrowshahi, CEO of Uber, said, &#8220;Today, only around half of iFood and Uber customers in Brazil use both platforms. So this partnership represents a big milestone in our mission to help people go anywhere and get anything at the tap of a button.&#8221;
&#8220;Now, this integration represents a major step forward, with both companies innovating to offer a new way to access everyday services. We believe this partnership will drive more orders for restaurants, grocery stores, pharmacies, and convenience retailers; generate more income for couriers and drivers; and make consumers&#8217; everyday lives even easier,&#8221; added Diego Barreto, CEO of iFood.
Earlier in May, Uber reported&nbsp;fiscal first-quarter 2025 revenue growth of 14% year-on-year to $11.53 billion, missing the&nbsp;analyst consensus estimate of $11.62 billion and adjusted EPS of 83 cents, which beat the&nbsp;analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/25/05/45252907/uber-sees-strong-trip-growth-but-warns-on-us-rideshare-pressure-in-2025-outlook" rel="noreferrer noopener">consensus estimate&nbsp;of 50 cents.</a>
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;The Advisors Inner Circle Fund Cambiar Aggressive Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAMX#NYSE">CAMX</a>).
Price Action: UBER shares are down 1.28% at $89.25 premarket at the last check on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45414625/aurora-innovation-shares-fall-as-uber-announces-1b-note-offering-whats-going-on" target="_blank" rel="noreferrer noopener">Aurora Innovation Shares Fall As Uber Announces $1B Note Offering: What&#8217;s Going On?</a></li>
</ul>
Image by DenPhotos via Shutterstock

Large Cap

CAMX

Uber, iFood Unite In Brazil To Offer One-Stop App Convenience

The airline industry is back in the headlines, though not in a way that would make investors cheer. Another batch of earnings releases from large U.S. carriers—American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>), and Alaska Air (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>)—has brought a somber message: the skies are cloudy for forward-looking guidance. As these airlines take back their 2025 outlooks in response to escalating macroeconomic uncertainty, investors holding <a href="https://www.benzinga.com/etfs">airline-themed ETFs</a> are replanning their altitude.
ETFs In Focus
These are the three most susceptible ETFs most exposed to the turbulence shaking up the skies:
U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>)
This is the most widely held airline ETF among most investors, providing access to a portfolio of global airline shares, with a heavy U.S. bias. JETS has large stakes in Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>), American, and Southwest—all of which have watched their share prices spiral downward more than 20% on an average so far into 2025. Needless to say, JETS has declined sharply year to date, almost 23%, both as a result of weaker domestic demand and increasing economic headwinds.
Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44993378/schd-is-down-but-its-dividend-is-up-and-these-2-etfs-are-quietly-catching-up">SCHD Is Down, But Its Dividend Is Up And These 2 ETFs Are Quietly Catching Up</a>
iShares Transportation Average ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>)
Although not airline-centric, IYT does have high exposure to airlines, along with freight and logistics stocks. The fund has been stressed by weakness within the passenger air travel component, as air travel demand between the U.S. and other countries especially Canada, has been affected due to tariffs and is susceptible to additional challenges if the slowdown permeates to cargo and global travel.
SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>)
XTN provides equal-weighted exposure to the wider transportation space, including regional carriers. It&#8217;s more attuned to under-the-radar participants such as Alaska Air, which have fallen harder than their big-cap peers because they&#8217;ve been more dependent on domestic routes—now the weakest part of the market.
Guidance Cuts
Although first-quarter results were largely better than projected, the actual theater of action is in the empty forecast columns.
American Airlines topped revenue expectations and reported a smaller-than-expected Q1 loss, but <a href="https://www.benzinga.com/25/04/44982328/american-airlines-flies-into-uncertainty-q1-revenue-miss-2025-outlook-pulled-but-debt-plan-on-track">withdrew its full-year forecast</a>, stating visibility is limited and clouds are dense.
Southwest seconded that view, regardless of record Q1 revenue, <a href="https://www.benzinga.com/general/travel/25/04/44968055/southwest-airlines-tosses-out-profit-guidance-amid-macroeconomic-uncertainty-shares-slide-despite-better-than-expected-q1-results">withdrawing earnings guidance for 2025 and 2026</a> after experiencing demand weaken over the course of the quarter.
Alaska Air fell <a href="https://www.benzinga.com/25/04/44976464/alaska-air-hit-by-demand-dip-in-q1-loss-skips-fy25-guidance-update-amid-uncertainty">short on revenue and sharply reduced Q2 expectations</a>, stating it is anticipating a 6 percentage point revenue hit from soft demand.
If investors were expecting clarity, they received fog instead.
Macro Headwinds And Tariff Crosswinds
Aside from consumer demand, geopolitics and trade tensions are also blowing fiercely. Tariffs imposed by President Donald Trump have contributed to growing economic uncertainty, with spillovers affecting airline sentiment. 
Boeing, meanwhile, is seeking to reroute dozens of undeliverable planes originally destined for Chinese customers. &#8220;We have many customers who want near-term deliveries, so we plan to redirect the supply to the stable demand. And we are not going to continue to build aircraft (and ship it) to customers who will not take them,&#8221; Boeing CEO Kelly Ortberg explained <a href="https://www.benzinga.com/markets/equities/25/04/44970516/boeing-adjusts-strategy-amid-trump-tariff-fallout-ceo-kelly-ortberg-says-wont-build-aircraft-for-customers-who-will-not-take-them-as-china-halts-deliveries">in the earnings call.</a>
So far this year, American Airlines has fallen 43%, Southwest is down 22%, Delta and United have slid 30% and 28%, respectively.
The domestic demand drag is evident across the board. Airlines are hoping that international and premium segments, currently holding up, don't catch the same cold, as expressed by TD Cowen analyst Tom Fitzgerald, <a href="https://www.barrons.com/articles/american-southwest-airlines-earnings-stock-price-498f8b9c">cited </a>by Barron&#8217;s. But that's a risky bet in a macro environment where clarity is more elusive than a free in-flight upgrade.
What's Next For Airline ETFs?
Investors are struggling with mixed signals: strong near-term performance in certain segments vs. gigantic uncertainty to come. Fitzgerald warned that airline stocks are likely to remain range-bound until more definitive economic data are available, citing risks to second-half 2025 and 2026 earnings estimates.
While airline ETFs might still be a long-term bargain—currently, investors are in a holding pattern. Until economic skies brighten, it may be best to have that seatbelt tightly buckled.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44947467/voo-vs-vti-buffett-approves-this-battle-for-your-portfolio">VOO Vs. VTI: Buffett Approves This Battle For Your Portfolio</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

ETFs

JETS

Airline Stocks Hit Headwinds As Carriers Cut Guidance, ETFs Enter Turbulence

Goldman Sachs analyst Jordan Alliger reiterated a Neutral Rating on Old Dominion Freight Line, Inc. (NASDAQ: <a href="https://www.benzinga.com/stock/ODFL#NASDAQ" target="_blank" rel="noreferrer noopener">ODFL</a>) with a price forecast of $192 <a href="https://www.benzinga.com/news/earnings/25/04/44954335/old-dominion-earnings-shine-despite-revenue-slide" target="_blank" rel="noreferrer noopener">following first quarter FY25 results</a>.
The company reported a revenue decline of&nbsp;5.8%&nbsp;year-over-year (Y/Y) to&nbsp;$1.375 billion, slightly beating the consensus of&nbsp;$1.37 billion and EPS of $1.19,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">&nbsp;beat the consensus of&nbsp;$1.14.</a>
Old Dominion CEO&nbsp;Marty Freeman&nbsp;said the company's financial results for the&nbsp;first quarter&nbsp;reflect "ongoing softness in the domestic economy."
The analyst writes that during the conference call, he anticipates management to offer <a target="_blank" href="https://www.benzinga.com/quote/ODFL/analyst-ratings" rel="noreferrer noopener">updates on April revenue trends</a>.
Goldman Sachs and consensus estimates for second-quarter revenue per day showed a Y/Y decline of 1% and 2%, respectively, adds the analyst.
Alliger says tonnage growth is expected to be down 4% and 5%, respectively, and revenue per hundredweight, excluding fuel, is projected to grow by approximately 4%-5% Y/Y. He also expects insights into the sequential margin performance. 
Historically, Old Dominion Freight Line management commentary suggests an average operating ratio improvement of around 350-400 basis points from the first to the second quarter, with analyst&#8217;s pre-COVID calculation yielding an average of roughly 400-450 basis points.
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are up 1.74% at $154.71&nbsp;at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/04/44697177/marjorie-taylor-greene-buys-the-dip-congresswoman-purchases-shares-of-apple-amazon-nike-and-more-following-tariff-related-sell-off" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Buys The Dip: Congresswoman Purchases Shares Of Apple, Amazon, Nike And More Following Tariff-Related Sell-Off</a></li>
</ul>
Photo: Shutterstock

ODFL

ProShares Trust ProShares Supply Chain Logistics ETF

SUPL

Goldman Sachs Sticks To Neutral On Old Dominion, Eyes April Revenue, Tonnage Trends, Q2 Margin Improvement

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading higher <a href="https://www.benzinga.com/pressreleases/25/04/b44945180/old-dominion-freight-line-reports-first-quarter-2025-earnings-per-diluted-share-of-1-19" target="_blank" rel="noreferrer noopener">following first-quarter results</a>.
Here's a breakdown of what the company reported:
<ul>
<li>Revenue declined&nbsp;5.8%&nbsp;year-over-year (Y/Y) to&nbsp;$1.375 billion, slighly beating the consensus of&nbsp;$1.37 billion.</li>
<li>There was a 6.3% Y/Y decrease in LTL tons per day, a 5% Y/Y drop in LTL shipments per day and, a 1.4% Y/Y reduction in LTL weight per shipment.</li>
<li>LTL revenue per hundredweight, excluding fuel surcharges, rose&nbsp;4.1% Y/Y in the quarter.</li>
<li>EPS was&nbsp;$1.19,<a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener"> beating the consensus of&nbsp;$1.14.</a></li>
<li>Operating income fell&nbsp;12.5%&nbsp;to&nbsp;$338 million, with an operating ratio of&nbsp;75.4%, compared to&nbsp;73.5%&nbsp;a year ago.</li>
<li>Old Dominion&#8217;s operating cash flow was&nbsp;$336.5&nbsp;million&nbsp;for the&nbsp;first quarter.</li>
<li>As of March 31, the company had&nbsp;$97.2&nbsp;million&nbsp;in cash and equivalents.</li>
<li>Capital expenditures stood at&nbsp;$88.1&nbsp;million&nbsp;in the&nbsp;quarter.</li>
<li>Roughly&nbsp;$201.1&nbsp;million&nbsp;was spent on share repurchases and&nbsp;$59.5&nbsp;million&nbsp;in dividends.</li>
</ul>
Old Dominion CEO Marty Freeman said the company&#8217;s financial results for the first quarter reflect &#8220;ongoing softness in the domestic economy.&#8221; 
&#8220;While we were encouraged to see signs of improving demand during the first quarter, there continues to be uncertainty with the economy,&#8221; he added.
The company brass insists they are &#8220;uniquely positioned to respond to an improving economy.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: Old Dominion shares are up&nbsp;5.46%&nbsp;at&nbsp;$160.37 premarket at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/04/44697177/marjorie-taylor-greene-buys-the-dip-congresswoman-purchases-shares-of-apple-amazon-nike-and-more-following-tariff-related-sell-off" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Buys The Dip: Congresswoman Purchases Shares Of Apple, Amazon, Nike And More Following Tariff-Related Sell-Off</a></li>
</ul>
Image: Shutterstock

Earnings

Old Dominion Earnings Shine Despite Revenue Slide, CEO Blames 'Ongoing Softness' In Economy

We might see Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) riding the next wave of the autonomous revolution with a revolutionary tie-up between General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). With GM leveraging Nvidia&#8217;s AI brawn to create autonomous driving technology, <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44399929/how-the-nvidia-gm-partnership-could-challenge-tesla-boost-uber">Uber stands to gain significantly </a>as the ride-hailing sector moves closer to an autonomous future. And for investors looking to cash in on this trend, certain <a href="https://www.benzinga.com/etfs">ETFs could be the way to go</a>.
ETFs That Could Benefit
If you're looking to play the Uber angle in this self-driving shake-up, here are some ETFs that offer solid exposure:
iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>)
Why It Matters: Puts emphasis on leading transportation and logistics companies and Uber&#8217;s AV aspirations may accelerate its long-term growth. Holds Uber as one of its core holdings, allocating over 19% to it currently.
Cambiar Aggressive Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NYSE">FTXR</a>)
Why It Matters: Seeks long-term capital appreciation by way of an alpha-generating strategy. The firm suggests this fund for investors with higher risk tolerance. 5.85% of the fund is allocated to Uber.
Pacer US Cash Cows Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUL#NYSE">BUL</a>)
Why It Matters: Targets capital appreciation by mirroring the S&amp;P 900 Pure Growth Index for the top 50 companies based on free cash flow yield. 6.54% of the fund is dedicated to Uber.
Also Read: <a href="https://www.benzinga.com/insights/news/25/03/44342158/100-invested-in-uber-technologies-5-years-ago-would-be-worth-this-much-today">$100 Invested In Uber Technologies 5 Years Ago Would Be Worth This Much Today</a>
The Uber Connection
GM&#8217;s recent partnership with Nvidia is a big bet on AI-powered automation, leveraging Nvidia&#8217;s AI know-how to speed up its autonomous push. The automaker previously deployed Nvidia&#8217;s chips in its Cruise robotaxis, and now it&#8217;s turning to driver-assistance technology for consumer vehicles. GM estimated that its Super Cruise technology would bring in $2 billion a year within five years, thus upping its competitive presence.
Uber&#8217;s not sitting on its hands, either. The ride-hailing company has already partnered with GM&#8217;s Cruise unit, seeing a future where Uber passengers might order up self-driving Chevys run by Nvidia&#8217;s AI. CEO Dara Khosrowshahi has indicated clearly enough -Uber views self-driving technology as a tremendous core of its long-term plan.
With Uber, GM and Nvidia pushing the boundaries of AI-driven transportation, the investment opportunities are hard to ignore. If you're looking for a way to ride this wave, these Uber-focused ETFs might be your best bet.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/25/03/44401175/oil-prices-ease-what-it-means-for-energy-etfs-investors">Oil Prices Ease: What It Means For Energy ETFs, Investors</a></li>
</ul>
Photo: Shutterstock

Specialty ETFs

Topics

ARKK

DRIV

FTXR

NVDA

Betting On Uber's Driverless Future? These ETFs Could Pay Off

Goldman Sachs analyst Jordan Alliger lowered estimates for FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) ahead of its third-quarter FY25 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">earnings release on March 20</a>.
The analyst has rated the company Buy <a target="_blank" href="https://www.benzinga.com/quote/fdx/analyst-ratings" rel="noreferrer noopener">with a price forecast of $315, down from $328</a>.
Alliger reduced third-quarter EPS estimates from $4.65 to $4.40 due to ongoing transportation challenges, particularly in industrial-exposed LTL.
The analyst also reduced FY25 EPS estimates from $18.85 to $18.65, citing volume declines in B2B parcel services like U.S. Priority and Ground Commercial.
For FY26, Alliger lowered EPS estimates from $23.30 to $22.20, with B2B parcel volumes expected to remain negative in early FY26 before improving in the second half. Also, for FY27, the analyst slashed EPS estimate from $26.30 to $25.50.
The analyst says that the lowered estimates for the remainder of the year reflect uncertainty surrounding tariffs and the recovery timeline for the manufacturing and B2B sectors.
This adjustment aligns with the broader estimate reductions made across the transportation sector following the fourth quarter earnings season, adds the analyst.
Meanwhile, Alliger says that he remains optimistic about FDX&#8217;s ongoing cost-cutting efforts and investments in its LTL business.
These initiatives boost confidence in the company&#8217;s ability to achieve significant operational leverage when the industrial economy rebounds, adds the analyst.
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: FDX shares are down 0.71% at $241.77 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44305160/revolutionizing-gaming-nvidia-and-microsofts-neural-shading-brings-ai-to-graphics" target="_blank" rel="noreferrer noopener">NVIDIA &amp; Microsoft Unlock RTX Neural Shaders For Next-Gen Graphics: Details</a></li>
</ul>
Photo via Shutterstock.

Analyst Color

Price Target

Reiteration

Analyst Ratings

Trading Ideas

Goldman Sachs Trims FedEx Forecast, Cites B2B Weakness, Tariffs And Industrial Slowdown

The aviation sector has been flying in turbulent skies recently, thanks to heightened oil price volatility. With Brent crude oil prices slipping below $70 per barrel on March 6, followed by a sharp rebound on March 7, airline stocks and <a href="https://www.benzinga.com/etfs">sector-focused ETFs </a>have been on a rollercoaster ride. Investors are keeping a close watch on energy costs, a key component of airline operations, and how they impact the broader aviation market. 
Also Read: <a href="https://www.benzinga.com/news/global/25/03/44176027/geopolitics-tariffs-supply-glut-whats-next-for-oil-etfs">Geopolitics, Tariffs, Supply Glut: What&#8217;s Next For Oil ETFs?</a>
<h3 class="wp-block-heading">Three Aviation-Focused ETFs to Watch</h3>
U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) &#8211; Down 1.05% at the time of publication Friday. The fund is one of the most popular aviation ETFs, offering exposure to major airlines, aircraft manufacturers, and airport operators. The fund holds stocks from global carriers such as Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), and Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>). While JETS has struggled amid oil price fluctuations, its diversified approach provides investors with broad exposure to the airline industry.
iShares Transportation Average ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) &#8211; Up 0.66% at the time of publication Friday. While not solely focused on airlines, the iShares Transportation Average ETF includes a significant allocation to aviation stocks alongside railroads, trucking, and logistics firms. Given the importance of fuel costs across the transportation sector, IYT's performance is closely linked to oil price movements, making it an interesting choice for investors looking for a broader transportation play.
SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>) &#8211; Up 0.08% at the time of publication Friday. This fund tracks an equal-weighted index of U.S. transportation stocks, including airlines, railroads, and shipping companies. This ETF offers a more balanced approach compared to JETS, which is heavily weighted toward major airlines. As a result, XTN may offer a smoother ride for investors during periods of oil price volatility.
Also Read: <a href="https://www.benzinga.com/news/25/03/44150023/why-exxon-mobil-xom-stock-hit-a-new-52-week-low-today">Why Exxon Mobil (XOM) Stock Hit A New 52-Week Low Today</a>
What's Driving Oil Prices?
Oil prices have been gyrating lately, largely due to geopolitical and economic factors. 
U.S. airline stocks tumbled again on Tuesday, hitting their lowest levels since late last year following data indicating economic concerns. United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), which has the highest exposure to China among U.S. airlines, fell about 6%, along with Delta Air Lines. American Airlines dropped close to 4%, while domestic-focused carriers such as JetBlue Airways lost nearly 6% on Tuesday.
Airlines, particularly full-service carriers with extensive international networks, had been performing well due to strong demand and moderating domestic flight growth. However, some analysts now anticipate potential demand impacts, particularly for price-sensitive customers ahead of the crucial spring travel season, <a href="https://www.cnbc.com/2025/03/04/airline-stocks-tumble-amid-economic-concerns.html#:~:text=Airline%20stocks%20fall%20as%20possible%20economic%20'soft%20patch'%20raises%20demand%20concerns,-Published%20Tue%2C%20Mar&amp;text=U.S.%20airline%20stocks%20tumbled%20to,to%20recent%20Commerce%20Department%20data.">according </a>to CNBC. Adding to the concerns, <a href="https://www.benzinga.com/content/44139359/consumer-spending-is-slowing-but-these-stocks-will-still-thrive">U.S. consumer spending fell in January </a>for the first time in nearly two years, as per the U.S. Commerce Department.
However, by Friday, oil futures rebounded as reports emerged that the U.S. planned to refill its Strategic Petroleum Reserve (SPR) to full capacity, tightening global supply, <a href="https://www.bnnbloomberg.ca/investing/2025/03/07/us-energy-chief-plans-to-seek-20b-to-refill-oil-reserve/">according </a>to BNN Bloomberg.
Despite this temporary bounce, crude prices remained weak for the week, with the U.S. benchmark poised for a seventh consecutive weekly decline.
Aviation Stocks React
The S&amp;P 500 Airlines Industry Index felt the impact of these price swings, dipping around 5% by midday on Friday, while the Nasdaq Global Smart Airlines Index dipped around 1.7%.
Higher oil prices typically translate to increased fuel costs for airlines, squeezing margins and impacting profitability. However, despite the weakness in oil prices this week, ETFs exposed to the aviation sector have remained under pressure, signaling the other factors at play that weighed heavily on the stocks. If oil prices remain weak, it can boost airline earnings, making aviation ETFs an interesting play for investors looking to capitalize on these trends.
Read Next: 
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Photo: Shutterstock

Aviation ETFs Face Turbulence As Oil Prices Fluctuate, Airline Stocks Slide

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43490369/old-dominion-freight-line-reports-fourth-quarter-2024-earnings-per-diluted-share-of-1-23" rel="noreferrer noopener">higher following&nbsp;fourth-quarter&nbsp;results</a>.
Here&#8217;s a breakdown of what the company reported: 
<ul>
<li>Revenue declined 7.3% year-over-year (Y/Y) to $1.386 billion, beating the consensus of $1.379 billion.</li>
<li>There was an 8.2% decrease in LTL tons per day, a 7.6% drop in LTL shipments per day and a 0.7% reduction in LTL weight per shipment.</li>
<li>LTL revenue per hundredweight, excluding fuel surcharges, rose&nbsp;3.8%&nbsp;in the quarter.</li>
<li>EPS was&nbsp;$1.23,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">&nbsp;beating the consensus of&nbsp;$1.18.</a></li>
<li>Operating income fell 20.7% to $334 million, with an operating ratio of 75.9%, compared to 71.8% a year ago.</li>
<li>Old Dominion's operating cash flow was&nbsp;$401.1&nbsp;million for the&nbsp;fourth quarter and&nbsp;$1.7&nbsp;billion for the year.</li>
<li>As of Dec. 31, the company had $108.7 million in cash and equivalents. </li>
<li>Capital expenditures stood at $170.9 million in the quarter.</li>
<li>Roughly $967.3 million was spent on share repurchases, including a $200 million accelerated program, and $223.6 million in dividends.</li>
</ul>
Dividend Raise: The Old Dominion board declared a first-quarter dividend of $0.28 per share, payable on March 19, 2025, to shareholders on record as of March 5.
Adjusted for the March 2024 stock split, this marks a 7.7% increase from the first quarter of 2024.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, &#8220;The challenging macroeconomic environment over the past couple of years has created persistent demand headwinds for our business. &#8221;
&#8221;&#8230;..we are confident that Old Dominion&#8217;s unmatched value proposition makes us the best-positioned carrier to win market share once a positive inflection in industry demand occurs.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Pacer Funds Pacer Industrials and Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHPP#NYSE">SHPP</a>).
Price Action: Old Dominion shares are up 7.17% at $196.85 at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/25/02/43442219/why-beer-tequila-avocados-cars-iphone-prices-could-rise-trumps-tariffs-on-canada-mexico-china-to-hurt-several-sectors" target="_blank" rel="noreferrer noopener">Why Beer, Tequila, Avocados, Cars, iPhone Prices Could Rise: Trump&#8217;s Tariffs On Canada, Mexico, China To Hurt Several Sectors</a></li>
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Image: Shutterstock

Dividends

SHPP

Old Dominion Q4 Earnings: Strong Pricing Offsets Volume Decline, Dividend Raised 7.7%

President Donald Trump's <a href="https://www.benzinga.com/topic/tariffs">latest tariff moves</a> are shaking up global trade, but China may have a familiar counterstrike in mind. 
According to JPMorgan analyst Brian P. Ossenbeck, agricultural exports—particularly corn, wheat, and soybeans—are prime targets for Chinese retaliation. 
Any new developments on this front could be relevant to investors in the Teucrium Corn Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CORN#NYSE">CORN</a>), the Teucrium Wheat Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEAT#NYSE">WEAT</a>) and the Teucrium Soybean Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOYB#NYSE">SOYB</a>).
With a history of leveraging tariffs to disrupt U.S. farm exports, Beijing could once again use this tactic to put pressure on American producers and policymakers.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43432736/copper-stocks-on-shaky-ground-jpmorgan-analysts-say-tariffs-deepseek-cloud-outlook">Copper Stocks On Shaky Ground, JPMorgan Analysts Say: Tariffs, DeepSeek Cloud Outlook</a>
<h2 class="wp-block-heading">A Familiar Playbook: Agriculture As A Pressure Point</h2>
Ossenbeck highlights that U.S. agricultural exports to China, especially soybeans, have been heavily impacted by past trade tensions. "A study by the U.S. Department of Agriculture found tariffs reduced U.S. agricultural exports by $27 billion in 2018-2019 and soybeans accounted for the majority of the decline at 71%." 
If history repeats itself, American farmers could face another round of painful disruptions.
<h2 class="wp-block-heading">Railroads On Alert</h2>
The impact of potential tariffs won't stop at the farms. U.S. rail giants like BNSF (2.5% exposure) and Union Pacific Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) (1% exposure) are directly tied to soybean exports and could feel the squeeze. 
Ossenbeck's analysis suggests that retaliatory tariffs on grains could weigh on transportation stocks, adding another layer of volatility to the already embattled Transports sector. Investors in the iShares US Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>) should remain wary of their holdings.
<h2 class="wp-block-heading">Trade Tensions Fuel Import Rush</h2>
Meanwhile, data from JPMorgan indicates that importers have been bracing for impact. Ossenbeck points to a "pull-forward of imports from China that started in 2H24 and appears to have continued into early 2025." 
January containerized imports hit an all-time record, signaling that businesses have been stockpiling goods ahead of expected tariffs.
<h2 class="wp-block-heading">A Volatile Road Ahead</h2>
While a 30-day delay on tariffs for Mexico and Canada brought temporary relief to markets, "we are hardly sounding the ‘all clear' after the first salvo in what could be a long and volatile trade war on multiple fronts," says Ossenbeck. 
Investors should stay alert, as China's next move could be just around the corner—potentially hitting U.S. agriculture where it hurts most.
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43454424/china-strikes-back-new-tariffs-up-to-15-on-certain-us-imports-in-retaliation-for-trumps-10-levy-on-chinese-goods">China Strikes Back: New Tariffs Up To 15% On Certain US Imports In Retaliation For Trump&#8217;s 10% Levy On Chinese Goods</a></li>
</ul>
Image: Shutterstock

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Commodities

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SOYB

WEAT

China's Retaliatory Tariff Playbook: Corn, Wheat, Soybeans In The Crosshairs

BMO Capital Markets analyst Fadi Chamoun upgraded United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) to Outperform from Market Perform and reduced the <a target="_blank" href="https://www.benzinga.com/quote/UPS/analyst-ratings" rel="noreferrer noopener">target price to $150 (from $155)</a>.
The analyst writes that they still have concerns about the trajectory of UPS&#8217;s Domestic operating margins in the medium-to-long term.
Chamoun notes the combination of cyclical tailwinds, moderating unit cost inflation, positive contributions from cost reduction programs, and a low valuation make the near-term risk/reward favorable.
After nearly two years of soft B2B demand, the analyst expects lower interest rates and a recovering industrial economy to drive a return to low single-digit growth in B2B volumes.
Additionally, UPS has implemented more pricing actions on lower-margin B2C customers, particularly in the U.S. Domestic segment, which the analyst notes will improve the volume mix going forward.
Chamoun estimates EPS of $7.49 (vs. $7.52 prior) for 2024 and $8.68 (vs. $8.81 prior) for 2025.
In October, UPS reported consolidated revenue growth of 5.6% year-over-year to $22.2 billion, beating the consensus of $22.14 billion. Adjusted EPS was $1.76, up 12.1% YoY,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41515619/delivery-giant-ups-breaks-revenue-miss-streak-after-10-quarters-stock-soars" rel="noreferrer noopener">above the consensus of $1.63.</a>
Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Price Action: UPS shares are up 1.05% at $129.88 at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/legal/24/12/42347179/amazon-blasts-lawsuit-over-alleged-slow-deliveries-to-certain-zip-codes-tells-ag-were-protecting-drivers" target="_blank" rel="noreferrer noopener">Amazon Blasts Lawsuit Over Alleged Slow Deliveries To Certain Zip Codes, Tells AG: &#8216;We&#8217;re Protecting Drivers&#8217;</a></li>
</ul>
Photo via Shutterstock.

Upgrades

UPS Near-Term Outlook Is Favorable Despite Margin Concerns, Analyst Upgrades Stock

President-elect Donald Trump announced former Congressman Sean Duffy to oversee the Department of Transportation (DOT) on Monday. 
Here's a look at how the latest Trump selection could affect companies in <a href="https://www.benzinga.com/news/24/11/42053292/trump-picks-sean-duffy-as-next-transportation-secretary-says-he-will-usher-in-the-golden-age-of-travel">the transportation sector. </a>
The Details: Duffy, who served in the U.S. House of Representatives from 2011 to 2019, most recently worked as Fox News Media host. He left the position on Monday, according <a href="https://www.nytimes.com/2024/11/18/us/politics/sean-duffy-trump-transportation-dot.html">to</a> the New York Times.
Duffy is the second Fox News employee to be nominated by Trump for a cabinet position. Last week, Trump picked Fox News host Pete Hegseth as Defense Secretary despite <a href="https://www.benzinga.com/news/24/11/41952962/trumps-surprise-defense-secretary-pick-pete-hegseth-jolts-wall-street">lack of government experience</a>.
In 1997, he was a cast member on MTV's "The Real World: Boston.&#8221;
As Transportation Secretary, Duffy would be in charge of major federal agencies, including the Federal Aviation Administration (FAA) and the National Highway Traffic Safety Administration (NHTSA). 
Read More: <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump Appears &#8216;Frustrated&#8217; As Elon Musk Chimes In On Treasury Secretary, Adds More Names To Short List&nbsp;</a>
"He will prioritize Excellence, Competence, Competitiveness and Beauty when rebuilding America's highways, tunnels, bridges and airports. He will ensure our ports and dams serve our Economy without compromising our National Security, and he will make our skies safe again by eliminating DEI for pilots and air traffic controllers," Trump said in his announcement.&nbsp;&nbsp;
<h3 class="wp-block-heading">Air Travel</h3>
If approved by the Senate, Duffy can be expected to address ongoing aviation <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">safety issues</a>. This could include matters relating to Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and air traffic control challenges. As part of Trump's focus on efficiency, Duffy could potentially work to enhance safety measures while streamlining regulations. 
Major airline companies like Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and American Airlines Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) may be affected by potential policy and regulatory changes, as well. 
<h3 class="wp-block-heading">&#8216;Overall Negative For EV Industry&#8217;</h3>
The DOT also oversees the National Highway Traffic Safety Administration (NHTSA) which is expected to focus on regulatory frameworks for electric vehicles and autonomous driving technologies in the near term.  The NHTSA is likely to establish guidelines for emerging technologies like Tesla, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) autonomous driving software. 
Recent reports suggest Trump has plans to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42046316/trump-set-to-hand-musk-golden-path-for-tesla-after-reversing-course-on-autonomous-vehicle-ban">ease restrictions</a> on self-driving vehicles, which could help companies like Tesla expand FSD and bring robotaxis to the market.
Tesla CEO Elon Musk campaigned heavily for Trump and provided millions to his campaign coffers ahead of Election Day.
At the same time, it seems likely that the incoming Trump administration <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">will eliminate </a>or reduce many of the EV purchase incentives included in the Biden administration&#8217;s Inflation Reduction Act (IRA). 
Wedbush analysts said that Tesla&#8217;s rivals, U.S.-based EV startups like Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), could face a major set-back if Trump rolls back current EV tax incentives and rebates, as reports suggest. 
"We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled," Wedbush analysts wrote.&nbsp;
<h3 class="wp-block-heading">Railroads</h3>
If Duffy is confirmed, he will also oversee the Federal Railroad Administration (FRA), which is responsible for safety measures across the rail network. He may address safety concerns following incidents like the East Palestine <a href="https://www.benzinga.com/news/24/04/38240139/norfolk-southern-to-pay-600m-in-ohio-train-derailment-lawsuit">derailment in 2023</a>.
Duffy will also manage billions in federal grants aimed at improving rail infrastructure and upgrading aging rail systems to enhance efficiency and safety. Railroad companies including CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Norfolk Southern Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) and Union Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) may benefit from such improvement projects. 
Investors can also monitor the broader transportation sector through ETFs which track its performance including the iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and the First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>). 
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a></li>
</ul>
Image: Shutterstock&nbsp;

Politics

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LCID

RIVN

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What Trump's DOT Pick Could Mean For EVs, Airlines, Railroad Stocks

The U.S. Justice Department's Antitrust Division and the Department of Transportation announced on Thursday they have opened a broad public inquiry into the state of competition in air travel on topics including previous airline mergers, aircraft manufacturing, airline ticket sales, <a href="https://www.benzinga.com/government/24/09/40745931/delta-southwest-and-other-airlines-in-hot-waters-with-us-transportation-department-for-unfair-reward">pricing and rewards practices</a>.
The Details: The agencies <a href="https://www.justice.gov/opa/pr/justice-department-and-department-transportation-launch-broad-public-inquiry-state">have issued</a> a Request for Information (RFI) and seek the public's input on anticompetitive conduct, consolidation and issues affecting the availability and affordability of air travel options.&nbsp;
"Competition in air travel is a vehicle for better quality, better fares and better choices for Americans," said Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division.
"With this inquiry, we hope to learn more from the businesses and travelers at the center of this essential industry. Their feedback will ensure the Justice Department can continue to build on its historic efforts to protect competition in air travel," Kanter added.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/10/41546663/fridays-top-5-trending-stocks-whats-the-scoop-on-tesla-sofi-joby">Friday&#8217;s Top 5 Trending Stocks: What&#8217;s The Scoop On Tesla, SoFi, Joby?</a>
The U.S. Travel Association reacted to the DOJ's public inquiry into competition in air travel, which it sees as politically motivated.&nbsp;
"Today's announcement by the Departments of Transportation and Justice that they will launch ‘broad inquiries' into airline business practices is another in a long line of disappointing political stunts," the U.S. Travel Association said <a href="https://www.ustravel.org/press/us-travel-reacts-doj-dot-inquiry-air-travel-competition">in a statement</a>.
DOJ Cracks Down: Under the Biden administration, the DOJ has cracked down on industry consolidation and mergers and successfully blocked <a href="https://www.benzinga.com/news/24/03/37455281/jetblue-spirit-airlines-shares-are-moving-monday-whats-going-on">the merger</a> of JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) and Spirit Airlines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NASDAQ">SAVE</a>) earlier this year.  
Spirit Airlines continues to face financial trouble and a potential bankruptcy after the deal with JetBlue fell through. Earlier this week, it was reported the<a href="https://www.benzinga.com/m-a/24/10/41496171/whats-going-on-with-spirit-airlines-stock-wednesday"> airline had resumed</a> preliminary merger discussions with Frontier Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>). The potential merger of the two airlines would likely coincide with Spirit's restructuring of its debt and other liabilities in bankruptcy and could be affected by actions resulting from the DOJ's latest inquiry. 
Last month, the DOT launched an inquiry into whether the loyalty programs of the four largest U.S. airlines have engaged in unfair, deceptive or noncompetitive practices. Transportation Secretary Pete Buttigieg sent a letter to American Airlines, Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines and Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) requesting records and reports related to the airlines&#8217; loyalty programs, practices and policies.
Federal agencies did allow a merger between Hawaiian Holdings, Inc. and Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) <a href="https://www.benzinga.com/government/24/08/40455513/alaska-airlines-hawaiian-airlines-1-9b-merger-gets-doj-green-light-awaits-transportation-department">to be completed</a> in September. However, the DOT required the companies to agree to a set of consumer protections before giving the deal the green light. 
Why It Matters: Other companies in the airline industry may be affected by the joint inquiry announced Thursday, including planemaker Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and parts supplier Spirit Aerosystems Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPR#NYSE">SPR</a>). Investors can monitor the effects on the industry through airline-focused ETFs, including the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and the iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>). 
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/10/41551820/flying-taxis-are-almost-here-joby-archer-aviation-applaud-new-faa-regulations-for-evtol-aircraft">Flying Taxis Are Almost Here: Joby, Archer Aviation Applaud New FAA Regulations For eVTOL Aircraft</a></li>
</ul>
Image: Courtesy of&nbsp;United Airlines Holdings, Inc.

Legal

iShares Dow Jones US Financial Sector Index Fund

JBLU

SAVE

ULCC

DOJ, DOT Open Inquiry Into Airline Competition Amid Rising Concerns

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading lower following <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41483669/old-dominion-freight-line-reports-third-quarter-2024-earnings-per-diluted-share-of-1-43" rel="noreferrer noopener">third-quarter results</a>.
The company reported a revenue decline of&nbsp;3.0%&nbsp;year-over-year to&nbsp;$1.470 billion, missing the consensus of&nbsp;$1.492 billion. EPS was&nbsp;$1.43,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$1.47.</a>
The revenue decrease is primarily due to a&nbsp;4.8% decrease in LTL tons per day, partially offset by a 1.5% increase in LTL revenue per hundredweight.
The decline in LTL tons per day is attributed to a 3.4% drop in LTL shipments per day and a 1.4% reduction in LTL weight per shipment.
LTL revenue per hundredweight, excluding fuel surcharges, rose 4.6% in the quarter.
Operating income fell 9.7%&nbsp;to&nbsp;$401.9 million, with an operating ratio of&nbsp;72.7%, compared to&nbsp;70.6%&nbsp;a year ago.
Old Dominion&#8217;s operating cash flow was&nbsp;$446.5&nbsp;million&nbsp;for the&nbsp;third quarter&nbsp;and&nbsp;$1.3&nbsp;billion&nbsp;for the first nine months.
As of September 30, the company had&nbsp;$74.2&nbsp;million&nbsp;in cash and equivalents. Capital expenditures stood at&nbsp;$242.8&nbsp;million&nbsp;in the&nbsp;third&nbsp;quarter.
For the first nine&nbsp;months of this year, Old Dominion returned capital to shareholders, spending&nbsp;$824.8&nbsp;million&nbsp;on share repurchases, including a&nbsp;$200 million&nbsp;accelerated program, and paying&nbsp;$168.2&nbsp;million&nbsp;in dividends.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, &#8220;Old Dominion&#8217;s third quarter financial results reflect ongoing softness in the domestic economy. The challenging operating environment, and strong comparable results for the third quarter of 2023, resulted in the first year-over-year decrease in our quarterly revenue and earnings per diluted share this year.&#8221;
&#8220;The decrease in revenue had a deleveraging effect on many of our operating expenses, which contributed to the 110 basis point increase in our overhead costs as a percent of revenue. Direct operating costs also increased as a percent of revenue despite our team operating very efficiently during the third quarter.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 5.79% at $187.99 premarket at the last check Wednesday.
Photo via Shutterstock
Read Next:
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</ul>

Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) 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 <a target="_blank" href="https://www.benzinga.com/quote/USM/analyst-ratings" rel="noreferrer noopener">target to $210 from $214</a>.
The analyst writes that consensus/BMOe F2025 earnings expectations have decreased by 13%/15%. Demand remains muted, and the timeline for a recovery in freight markets continues to be delayed.
The downgrade reflects anticipation of further negative revisions as the recovery timeline for freight markets extends.
Chamoun says that industrial demand, which represents two-thirds of LTL traffic, remains sluggish.
The analyst writes that although loosening monetary policy is expected to boost volume eventually, the delay between lower rates and a resurgence in demand extends the potential recovery timeline into H2 2025 or beyond.
With multiples at record highs, the near-term margin of safety is limited, adds the analyst.
The analyst reduced the below-consensus forecast for FY25 by 2.5% to $6.00 (versus consensus at $6.27) and for FY26 by 3.3% to $7.06 (compared to consensus of $7.15).
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 0.82% at $199.86 at the last check Friday.
Photo via Shutterstock
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Downgrades

Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading higher after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41343973/j-b-hunt-transport-services-inc-reports-u-s-gaap-revenues-net-earnings-and-earnings-per-share-for-" rel="noreferrer noopener">reported&nbsp;third-quarter results</a>.
Operating revenue fell 3% Y/Y to $3.07 billion, beating the consensus of $3.02 billion. Revenue declined mainly due to a 5% Y/Y drop in gross revenue per load in Intermodal (JBI) and a 6% Y/Y decrease in Truckload (JBT).
Additionally, load volumes fell by 10% in Integrated Capacity Solutions (ICS) and 6% in Dedicated Contract Services (DCS), along with 6% fewer stops in Final Mile Services (FMS).
Total operating revenue, excluding fuel surcharge revenue, decreased by less than 1% Y/Y in the quarter.
Operating income dipped 7%&nbsp;Y/Y to&nbsp;$224.1&nbsp;million due to decreased revenue across all segments except JBI, along with rising expenses related to personnel, insurance, claims, and equipment.
EPS of&nbsp;$1.49 surpassed <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.47</a>.
As of September 30, the company had cash and cash equivalents of about $120 million.
In the third quarter of 2024, the company repurchased shares worth around $200 million. As of September 30, J.B. Hunt had around $967 million remaining under its share repurchase authorization.
Investors can gain exposure to the stock via&nbsp;IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ESGX#BATS">ESGX</a>).
Price Action: JBHT shares are up 7.12% at $187.09 premarket at the last check Wednesday.
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ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF

ESGX

JBHT

Why Is J.B. Hunt Stock Surging Premarket On Wednesday?

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) formed a multiyear partnership to incorporate Avride&#8217;s delivery robots and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41163664/uber-and-avride-announce-autonomous-delivery-and-mobility-partnership" rel="noreferrer noopener"> autonomous vehicles into Uber and Uber Eats</a>.
The delivery partnership will begin with sidewalk robots for Uber Eats in Austin in the coming weeks, followed by expansions to Dallas and Jersey City later this year. The mobility partnership is set to launch for riders in Dallas next year.
Post-launch, consumers requesting a qualifying delivery or ride on the Uber Eats or Uber apps may have the option to use an Avride delivery robot or autonomous vehicle for their trip.
Dara Khosrowshahi, CEO of Uber, stated, &#8220;Autonomous mobility and delivery hold a ton of promise for consumers and communities. We&#8217;re excited to partner with Avride to bring their technology to more people in more places, as they continue to scale.&#8221;
Dmitry Polishchuk, CEO of Avride, said, &#8220;We plan to expand the total fleet of Avride robots operating within Uber Eats to hundreds in 2025, followed by the launch of our robotaxi service.&#8221;
In a separate release, Uber revealed a three-year strategic partnership with tire technology company ENSO to <a target="_blank" href="https://www.uber.com/newsroom/enso/" rel="noreferrer noopener">introduce </a>energy-efficient, low-emission EV tires in the U.K. and the U.S.
Earthshot Prize Finalist, ENSO is a London-born company that makes EV tires that extend EV range and reduce tire pollution. Uber has become a Founding Partner of The Earthshot Prize, founded by HRH Prince William, and will support the climate solutions.
Last month, Uber partnered with Spirit Halloween for on-demand delivery, offering discounts and perks for Uber One <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41070711/uber-secures-5b-revolving-credit-facility-also-teams-up-with-spirit-halloween-for-delivery" rel="noreferrer noopener">members during Halloween season</a>.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are down 0.4% at $72.58 at the last check Thursday.
Photo by yu_photo via Shutterstock
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Contracts

Uber & Avride Join Forces for Autonomous Delivery; Partners With ENSO For Low-Emission EV Tires

Oppenheimer analyst raised the price target at Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) to $95 (from $90) and <a target="_blank" href="https://www.benzinga.com/quote/UBER/analyst-ratings" rel="noreferrer noopener">maintained an Outperform rating</a>.&nbsp;&nbsp;
The analyst performed a survey that indicates a significant opportunity for restaurant delivery.
The analyst writes that despite economic pressures, 71% of non-users are unaware of savings from monthly subscriptions, highlighting the potential for new user acquisition through better marketing.
Grocery delivery lags behind restaurant delivery by ten percentage points (57% vs. 67%), with 73% preferring in-person shopping.
Based on favorable restaurant delivery trends, the analyst raised the 2025 estimated delivery share gains to 58 basis points, up from the previous 46 basis points.
Consequently, the analyst increased Uber Delivery gross transaction value (GTV) by 2% for 2025 and 2026 to account for greater frequency opportunities and anticipated consumer tailwinds from expected rate cuts in 2025.
Friday, Uber partnered with Spirit Halloween for on-demand delivery, offering discounts and perks for Uber One <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41070711/uber-secures-5b-revolving-credit-facility-also-teams-up-with-spirit-halloween-for-delivery" rel="noreferrer noopener">members during Halloween season</a>.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares closed lower by 1.73% to $75.75 on Friday.
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Photo by yu_photo via Shutterstock

This Analyst Sees More Than 25% Upside In Uber Thanks To Increased Food Delivery Penetration

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading slightly higher on Friday following the announcement of the addition of 20 Nikola Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) Tre fuel cell electric vehicles (FCEVs) to enhance sustainability solutions for customers<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41068791/j-b-hunt-adds-20-additional-nikola-fcevs-to-expand-sustainability-solutions-for-customers" rel="noreferrer noopener"> with freight needs along the West Coast.</a>
The Nikola FCEVs will complement the more than 200 alternative-powered vehicles that J.B. Hunt currently operates for its customers, including battery-electric, hydrogen-electric, and renewable natural gas (RNG) vehicles.
&#8220;Zero-emission vehicles such as these will help along the path to generate viable, sustainable options that help customers advance their efforts to reduce carbon emissions,&#8221; &nbsp;said Greer Woodruff, executive vice president of safety, sustainability, and maintenance at J.B. Hunt.
Nikola will provide fueling and infrastructure support through its HYLA brand. According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NKLA stock has lost over 90% in the past year.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40310274/nikola-ceo-steve-girsky-is-not-worried-about-competition-from-tesla-battery-trucks-dont-work-everywh" rel="noreferrer noopener">Nikola CEO Steve Girsky Is Not Worried About Competition From Tesla: &#8216;&#8230;Battery Trucks Don&#8217;t Work Everywhere&#8217;</a>
Earlier, in 2023, J.B. Hunt acquired three Nikola FCEVs that are now supporting dedicated customer operations.
Recently, the company launched a pilot program with Clean Energy featuring the new Cummins X15N engine, which represents the latest advancements in RNG-powered vehicles.
Additionally, J.B. Hunt has helped customers like Daimler Truck North America and Electrolux incorporate alternative-powered vehicles into their operations.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, JBHT stock has lost over 6% in the past year. Investors can gain exposure to the stock via&nbsp;Vesper US Large Cap Short-Term Reversal Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTRN#NYSE">UTRN</a>) and iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Price Action: JBHT shares are trading higher by 1.25% to $173.65 at last check Friday. NKLA shares were up 2.39% to $4.28.
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Photo via Shutterstock

NKLA

Vesper US Large Cap Short-Term Reversal Strategy ETF

UTRN

J.B. Hunt Expands Fleet with 20 Nikola EVs: What's Going On?

On Friday, Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) announced it has partnered with Spirit Halloween to enhance<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41065750/uber-eats-partners-with-spirit-halloween-across-north-america" rel="noreferrer noopener"> its on-demand delivery services</a>.
The Spirit Halloween catalog will be accessible on Uber at the same in-store prices.
Uber One members will get a $0 delivery fee and a 5% discount on Spirit Halloween orders over $35. Additionally, all consumers can receive up to 40% off their next Spirit Halloween purchase of $50 or more through Halloween.
Beryl Sanders, Director of U.S. Grocery &amp; Retail partnerships at Uber said, "The holiday season officially kicks off this time of year, and households across the country are looking to on-demand delivery to get what's needed—now,"
"That's one of the reasons we're most excited to bring Spirit Halloween to Uber Eats and our other Uber apps to make costumes and other Halloween must-haves a cinch."
Also, Uber entered into a new $5 billion Credit Agreement with Bank of America, replacing its previous <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1543151/000155278124000539/e24397_uber-8k.htm" target="_blank" rel="noreferrer noopener">2015</a> agreement.
The unsecured revolving loans mature in 2029 and can be drawn in U.S. dollars or other currencies for general corporate purposes.
The loans offer interest options tied to either the term SOFR rate plus a 1% margin or a base rate with no margin.
The commitment fee starts at 0.125% annually, with interest rates and fees fluctuating based on Uber's debt ratings.
The agreement includes standard covenants and default conditions, requiring a minimum EBITDA-to-interest ratio of 3:1. At closing, $413 million in letters of credit were transitioned from the previous agreement, but no funds were borrowed.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are down 1.03% at $75.90 at the last check on Friday.
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Image Courtesy of Dutchmen Photography via Shutterstock

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