Why LTL Freight Transportation Company XPO's Shares Are Jumping Today

Freight transportation company XPO Inc XPO is jumping over 14% Thursday morning. The company disclosed in a regulatory filing that it is reviewing its strategies and objectives, including cost control.
In April 2023, the company established the Operational Excellence Committee to review its strategies and objectives concerning operational excellence, including continuous improvement of quality and service, operational efficiency, cost control, occupational safety, environmental compliance, and technological innovation.
XPO has appointed Dave Bates as the chief operating officer, North American LTL, effective April 21, 2023.
Bates joins XPO after 27 years with Old Dominion Freight Line, Inc. ODFL, where he was responsible for all day-to-day operations in North America for the last 12 years as senior vice president, operations.
“Dave is a high-impact executive with a strong track record of driving excellence in all aspects of LTL operations,” said CEO Mario Harik.
Price Action: XPO shares are trading higher by 14.76% at $39.69 on the last check Thursday.