Latest news for WPF Holdings (OTC:WPFH) Stock

WPF Holdings Inc is a dynamic e-commerce and digital consultancy company that helps businesses navigate the ever-evolving digital landscape. The company provides a holistic approach to increase businesses' online presence and revenue with team of experts in web design, digital marketing, and e-commerce.

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WPF Holdings Inc

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading lower after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39803406/j-b-hunt-transport-services-inc-reports-u-s-gaap-revenues-net-earnings-and-earnings-per-share-for-" rel="noreferrer noopener">second-quarter&nbsp;2024 results</a>.
Operating revenue fell&nbsp;7%&nbsp;Y/Y to&nbsp;$2.93 billion, missing the consensus of&nbsp;$3.05 billion.
Revenue declined mainly due to a 5% drop in gross revenue per load in Intermodal (JBI), coupled with decreased load volumes: 25% in Integrated Capacity Solutions (ICS), 9% in Truckload (JBT), and 9% in Dedicated Contract Services (DCS).
Meanwhile, the Final Mile Services (FMS) segment saw a 5% revenue growth, driven by new contracts implemented over the past year, alongside a 5% increase in revenue per load in ICS.
Total operating revenue, excluding fuel surcharge revenue, decreased by around&nbsp;6%&nbsp;Y/Y in the quarter.
Operating income decreased 24% Y/Y to $205.7 million&nbsp;due to reduced revenue and increased expenses in insurance and claims, equipment, and certain personnel costs.
EPS of&nbsp;$1.32&nbsp;missed&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.57</a>.
As of June 30, 2024, the company had cash and cash equivalents of&nbsp;about $54 million.
In the&nbsp;second quarter&nbsp;of 2024, the company repurchased shares worth&nbsp;$203 million. As of June-end, J.B. Hunt had around&nbsp;$163 million&nbsp;remaining under its share repurchase authorization.
Investors can gain exposure to the stock via&nbsp;IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>).
Price Action: JBHT shares are down&nbsp;3.41%&nbsp;at&nbsp;$170.00&nbsp;premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Earnings

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iShares Dow Jones Transportation Average Index Fund

JBHT

Why J.B. Hunt Transport Services Shares Are Falling Today

Republican presidential nominee Donald Trump in an interview with Bloomberg provided a glimpse into <a href="https://www.benzinga.com/news/24/07/39807207/trump-eyes-jamie-dimon-for-treasury-secretary-rules-out-ousting-fed-chair-jerome-powell">what a potential second term for him would look like.</a> As fund managers, business leaders and billionaires gravitate toward him in droves, with the move more pronounced recently, former White House Director Anthony Scaramucci weighed in with his thoughts on the development.
Superficial Analysis: &#8220;The billionaire boys are all in for Trump,&#8221; said Scaramucci in a post on X, formerly Twitter. A cursory analysis showed that they expected lower taxes and pro-business regulation to be good for companies and America.
During the <a href="https://www.bloomberg.com/features/2024-trump-interview/">interview</a>, Trump said he would bring down the corporate tax rate to as low as 15%, a full six points below the current federal corporate tax of 21%. The former president also said that he expects to beat the Democrats this time around with his economic agenda. With the unorthodox agenda of tax cuts, more oil, less regulation, higher tariffs and fewer foreign financial commitments, Trump is eyeing to sway the swing voters in his favor.
He also suggested that he would let Federal Reserve Chair Jerome Powell serve out his full term that ends by May 2026 and appoint JPMorgan CEO Jamie Dimon as Treasury Secretary. He may not be keen on banning TikTok this time around, he said in the interview.
See Also: <a href="https://www.benzinga.com/news/24/07/39787296/first-obvious-error-by-trump-after-winning-nomination-says-anthony-scaramucci-of-ex-president-picks">&#8216;First Obvious Error&#8217; By Trump After Winning Nomination, Says Anthony Scaramucci As Ex-President Picks JD Vance As Running Mate: Pollster Says &#8216;Not The Pick…To Maximize Chances Of Winning The Presidency&#8217;</a>
Real Problem Lies Elsewhere: The real problem, according to Scaramucci, is what a potential Trump administration wants to do to the dollar, the constitution, the judiciary and the rules-based international system. &#8220;It is a brand of anarcho-Christian populism, which borders on fascism; it is a very dangerous time for the United States,&#8221; the founder of investment firm SkyBridge Capital said.
Scaramucci noted that the deficit spending is out of control. &#8220;If they devalue the dollar, they're going to disrupt the entire global capitalist system,&#8221; he said. &#8220;Joe Biden and his team are trying to keep things status quo, which is also impossible given the state of everything.&#8221;
The Bloomberg report said Trump's plan to renew his landmark 2017 Tax Cuts and Jobs Act, which carries an estimated price tag of $4.6 trillion, and to further reduce corporate taxes, may not help to bring about budgetary balance. This apart, his protectionist policies have the potential to exert upward pressure on interest rates, the report said, adding that it could only serve to aggravate America&#8217;s debt burden.
The ex-White House aide said, &#8220;I have been where the billionaire boys are now and I want to offer some caution and a perspective borne from up close experience, the tonic they are prescribing will be bad for America and the world.&#8221; 
&#8220;I understand the need for change and reform but don't overly stress the system, a system where you have been a direct beneficiary.&#8221;
Scaramucci&#8217;s comments come as business leaders, led by <a href="https://www.benzinga.com/24/07/39763381/elon-musk-discloses-2-attempts-on-his-life-and-endorses-trump-following-rally-shooting-dangerous-tim">Tesla CEO Elon Musk, endorsed Trump</a> after the Pennsylvania rally shooting. Tech venture capitalist David Sacks has long been supporting the former president, while hedge fund manager Bill Ackman recently pledged allegiance to him.
Read Next:
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<li><a href="https://www.benzinga.com/money/how-to-invest-in-startups" target="_blank" rel="noreferrer noopener">How To Invest In Startups</a></li>
</ul>
Image Via Shutterstock

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Economics

General

As 'Billionaire Boys' Go All In For Trump, Anthony Scaramucci Has Word Of Caution: 'Tonic They Are Prescribing Will Be Bad For America And The World'

HC Wainwright &amp; Co. analyst Robert Burns maintains Relay Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) with a Buy and lowers the price target from $20 to $18.

Price Target

Analyst Ratings

RLAY

HC Wainwright & Co. Maintains Buy on Relay Therapeutics, Lowers Price Target to $18

Johnson & Johnson Q2 2024 Adj EPS $2.82 Beats $2.70 Estimate, Sales $22.447B Beat $22.306B Estimate

Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.80 by 2.5 percent.

Earnings Beats

Citizens Financial Group Q2 2024 GAAP EPS $0.82 Beats $0.80 Estimate

Baird analyst David George downgrades Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) from Outperform to Neutral and maintains the price target from $27 to $27.

Downgrades

Baird Downgrades Associated Banc to Neutral, Maintains Price Target to $27

Needham analyst Laura Martin maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $205 to $210.

AMZN

Needham Maintains Buy on Amazon.com, Raises Price Target to $210

Baird analyst David George downgrades Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) from Outperform to Neutral and maintains the price target from $45 to $45.

Baird Downgrades Truist Finl to Neutral, Maintains Price Target to $45

HC Wainwright &amp; Co. analyst Robert Burns reiterates Caribou Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBU#NASDAQ">CRBU</a>) with a Buy and maintains $9 price target.

Reiteration

CRBU

HC Wainwright & Co. Reiterates Buy on Caribou Biosciences, Maintains $9 Price Target

Synchrony Financial Q2 Net Interest Income $4.41B, Down 7% YoY

Guidance

Health Care

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

Elevance Health Expects GAAP Net Income Per Diluted Share To Be At Least $34.05 In 2024 And Adjusted Diluted Net Income Per Share To Be At Least $37.20 Versus Consensus Of $37.28

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