On Thursday, Shares of Con-way Inc. (NYSE:CNW), surged 33.80% to $47.54.
XPO Logistics, Inc. and Con-way Inc. declared that they have reached a definitive agreement for XPO Logistics to acquire Con-way. The transaction will enhance XPO`s range of supply chain solutions by making XPO the second largest less-than-truckload (LTL) provider in North America, and will expand the company`s global contract logistics platform. XPO will also capitalize on synergies from the combination with Con-way`s managed transportation, truckload and freight brokerage businesses.
Headquartered in Ann Arbor, Mich., Con-way is a Fortune 500 company with a transportation and logistics network of 582 locations and about 30,000 employees serving over 36,000 customers. For the full year 2015, consensus analysts` estimates for Con-way are $5.7 billion of revenue and $528 million of adjusted EBITDA. The transaction is predictable to be substantially accretive to XPO`s earnings in the first 12 months.
All of the attained operations - Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal - will be rebranded as XPO Logistics.
Outlook
XPO intends to raise its year-end 2015 target run rates for revenue and EBITDA, and issue new long-term targets, upon completion of the acquisition.
Con-way Inc., together with its auxiliaries, provides transportation, logistics, and supply chain administration services to various manufacturing, industrial, and retail customers in North America and internationally. It operates through three segments: Freight, Logistics, and Truckload.
Shares of JD.com, Inc. (NASDAQ:JD), declined -1.95% to $24.19, during its last trading session, after producer prices in China fell for a 42nd straight month in August.
Faced with declining commodity prices and lower demand, China’s manufacturers cut prices by the largest amount in six years last month, indicating a risk for deflation that has fueled speculation of a government stimulus, Reuters reports.
China’s producer price index (PPI) reduced by 5.9% year over year in August, according to Reuters. The country’s consumer price index (CPI) rose 2% year over year, but the jump was likely because of high food prices rather than an improving economy, Reuters adds.
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the People’s Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
Finally, ConocoPhillips (NYSE:COP), ended its last trade with 1.21% gain, and closed at $48.43, as oil prices rallied on Thursday, with U.S. crude settling up 4 percent as indications of strong demand for gasoline overshadowed a report showing raised U.S. crude inventories, according to Reuters.
A weaker dollar also made dollar-denominated crude more affordable to holders of the euro, while gains on Wall Street improved bullish sentiment in oil markets. Reuters Reports
U.S. Energy Information Administration data showed demand for gasoline over the latest four-week period was up almost 4 percent from a year ago, bullish for late-summer consumption of the motor fuel. Gasoline inventories, meanwhile, raised just about half of predictable levels last week. Reuters added.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
