29 Apr Werner Enterprises Reports $592.7 Million Revenue for Q1 Werner Enterprises reported steady revenue but a decline in net income during the first quarter of 2020, and the company said it is positioning itself to navigate the freight environment going forward amid the COVID-19 pandemic. Read more...
29 Apr Daimler Profit Drops Amid Falling Demand Daimler AG reported net income plunged 92%, and revenue slipped 6% in the first quarter as a result of the novel coronavirus. Read more...
29 Apr Ryder Reports Q1 Net Loss Ryder System Inc. reported a net loss of just over $100 million in the first quarter and revenue slipped 1% as it adjusted to the impact of COVID-19 on the economy and its markets. Read more...
29 Apr Economy Shrinks 4.8% in Q1 as Result of Coronavirus The U.S. economy contracted by 4.8% on an annualized rate in the first quarter, according to the U.S. Commerce Department, which released the gross domestic product figures April 29. Read more...
29 Apr Elon Musk Presses for US to Reopen Ahead of Tesla Earnings Report Tesla Inc. shares have soared in spite of production shutdowns, likely demand disruptions and uncertainty about how soon the electric-car maker can restore more-normal operations. Read more...
29 Apr Boeing to Cut Output, Thousands of Jobs on Vanishing Demand Boeing Co. unveiled deep cuts to jobs and production as the manufacturer rushes to adapt to a shrinking market for jetliners after the worst downturn in aviation history. Read more...
29 Apr March Used Truck Prices Continue 2020 Slide Class 8 used truck sales in March slipped 12%, and the average price dropped about $7,000 compared with a year earlier, ACT Research reported. Read more...
29 Apr Ford, Rivian Put Plans for Electric Lincoln on Back Burner Ford and Rivian put their plans on ice to jointly develop a Lincoln-brand electric vehicle, a Lincoln spokeswoman confirmed April 28. Read more...
29 Apr US Economy Shrinks at 4.8% Pace, Signaling Start of Recession The record-long U.S. economic expansion is over after almost 11 years, with what’s likely to be the deepest recession in at least eight decades now underway. Read more...
28 Apr UPS Q1 Revenue Rises, Net Income Dips UPS Inc. on April 28 reported an increase in first-quarter revenue but said the COVID-19 pandemic caused a shift in its business mix that affected its bottom line result. Read more...