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LTL trucker XPO reports third-quarter Ebitda of $278 million, up from $262 a year ago.
Up as much as 13% earlier this year, the S&P 400 has slipped into negative territory for 2023. Like its large-cap cousin, the S&P 500, the mid-cap index is being weighed down by surging Treasury yields and rising geopolitical risks.
XPO has posted a total return of ~117% so far in 2023, significantly outperforming the S&P 500. The company's strong performance is driven by a strong economic backdrop and the demise of one of its largest competitors, Yellow Corp. XPO competes in a highly competitive business which results in low profit margins.
GREENWICH, Conn. , Sept. 29, 2023 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO) will hold its third quarter conference call and webcast on Monday, October 30, at 8:30 a.m. Eastern Time. The company's results will be released earlier that morning and made available on www.xpo.com .
XPO Inc (NYSE:XPO) stock is on the rise today, after Evercore ISI upgraded the stock to "outperform" from "in line," citing an "operational turnaround.
CNBC's ‘Halftime Report' investment committee, Bryn Talkington, Steve Weiss, Shannon Saccocia and Jason Snipe, weigh in XPO, Copper, Viper Energy and Alphabet.
CNBC's Jim Cramer explains why he is keeping an eye on shares of XPO.
XPO beat bottom-line estimates and showed sequential improvement on the top line. The company already seems to be benefiting from the bankruptcy of a competitor.
Shares of XPO NYSE: XPO have been on a stratospheric rise since the first quarter of 2023, blowing past all expectations and delivering a massive 165% advance in less than six months.
A Wall Street bank raised its price target on XPO this week, reflecting continued trucking-demand resilience and a potential bankruptcy filing by rival Yellow. XPO shares have been surging for weeks now.