UPS lifts freight and logistics sector with strong earnings report

seekingalpha2021-04-27

A number of freight, logistics and trucking stocks are tracking higher after a strong earnings report from UPS(UPS+10.2%).

Notable gainers in morning trading include XPO Logistics(XPO+3.2%), Air T(AIRT+1.7%), Covenant Logistics Group(CVLG+10.5%), Yellow Corporation(YELL+6.0%), J.B. Hunt Transports(JBHT+1.1%), USA Truck(USAK+4.0%), U.S. Xpress Enterprises(USX+4.0%), ArcBest(ARCB+2.1%)and Steel Connect(STCN+2.0%).

UPS isn't far from trading over $200 for the first time in its history after the earnings blowout.

"The company crushed our more conservative estimates, as operating leverage in the domestic segment – the key controversy on the stock – was very strong," updates Bernstein analyst David Vernon on the UPS earnings report.

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