J.B. Hunt Shares Fall More Than 10% After Earnings Warning
Trucking and logistics company said it expects third-quarter earnings to decline between 5% and 10%.
Shares of J.B. Hunt Transport Services fell more than 10% on Wednesday after the company warned that its third-quarter earnings are expected to decline, according to a report from CNBC.
The Arkansas-based trucking and logistics firm said it anticipates earnings to drop between 5% and 10% for the quarter, CNBC reported, citing the company's warning.
The stock decline reflects investor reaction to the earnings guidance, though specific reasons cited by the company for the expected shortfall were not detailed in the available report.
J.B. Hunt is one of the largest transportation and logistics companies in the United States, providing intermodal, trucking, and freight brokerage services.
Further details on the company's full financial outlook were not immediately available.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
S&P 500 Ends Another Losing Week; CNBC Highlights Stocks That May Be Due for a Rebound
After a second consecutive weekly decline for the benchmark index, market analysts point to select stocks trading at levels historically associated with a bounce.
US Stocks Close Week Mixed as European Markets Decline
Dow Jones edges lower while S&P 500 and Nasdaq post modest gains, according to Anadolu Agency
Russian Stock Indices Close Higher on Friday
The MOEX and RTS indices both posted gains as trading closed in Moscow, according to TASS.
Stock Futures Edge Higher After Dow's Third Straight Losing Week
Wall Street looks to steady itself after a mixed week for major indexes, according to CNBC.
Stock Market Faces Test From Rate Fears and AI Safety Debate, CNBC Reports
Investors weighed the prospect of a new Federal Reserve rate-hiking cycle alongside growing questions over artificial intelligence safety, according to a CNBC report.
Turkish Stock Exchange Opens Friday Lower
The benchmark BIST 100 index fell at the opening bell, according to Anadolu Agency.
Comments
Loading comments…