Morgan Stanley

A quarterly survey of shippers suggests the trucking market is still distanced from a material recovery.

The first meeting of the Federal Motor Carrier Safety Administration’s Truck Leasing Task Force (TLTF) discussed and drafted recommendations on Tuesday regarding limiting or eliminating the power a trucking company has over lease purchase agreements with drivers.

Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.

Trucking safety advocates are at odds with corporate-backed attempts at implementing a roadside safety exemption for autonomous trucks. For those unaware, current regulations require drivers to use three emergency reflective triangles, or at least six fusees or three liquid-burning road flares, if they stop on the road for reasons other than traffic.

A first-quarter survey of shippers showed inventories are being drawn down and that a second-half freight recovery remains in play.

A report published Wednesday by Morgan Stanley Research highlights demand expectations and how carriers and brokers are hungry for freight.

Separar los problemas de la comercialización de camiones autónomos es cada vez más difícil

The Wall Street Journal reports multiple federal probes of TuSimple’s China dealings after a watchdog set up oversight in February.

La ralentización de las importaciones y el aumento de los inventarios pasan factura a las previsiones de BPA para 2023

While earnings estimates remain largely intact for 2022, a September slowdown pushed analysts to take another look at 2023 forecasts.

‘En las próximas 4 semanas sabremos qué teoría es la correcta’

Trucking executives at large fleets acknowledged a weakening spot market during the first-quarter earnings season but their ties to the contract market give them confidence.

TuSimple says its autonomous trucking software is “feature complete” and it will expand driverless trucking beyond a pilot program.

TuSimple advances its commercialization timetable for driverless trucking and adds intermodal freight for Union Pacific at the Port of Tucson in Arizona.

Less-than-truckload carriers report strong October results. But one analyst questions if the stocks have run too far ahead of results.

Truckload carriers booked record gains on the sale of revenue equipment during the third quarter but the profits shouldn’t be viewed as artificial earnings.

Morgan Stanley analyst Ravi Shanker believes rate expectations of truckload management teams haven’t been reflected in 2022 earnings estimates yet.

Amazon-backed EV maker Rivian makes big news with a public stock offer and beating its rivals to market with the first-ever electric pickup, the R1T.

More trucking heads weigh in on rate expectations for 2022. Following a sizable rate bump this year, it appears that rates could move considerably higher again next year.

The financial analysis of Uber Freight does not yet include the impact of Transplace, which the digital brokerage is acquiring.

Even though there is no indication Tesla is interested in eVTOLs at this time, Morgan Stanley says the company will eventually offer services related to urban air mobility.

Fleets still want and need trucks but move to sidelines until manufacturers open their order books.

Chinese ride-hailing giant Didi has filed paperwork with the SEC for an IPO on a major U.S. stock exchange.

After a slow start, Morgan Stanley sees the urban air mobility market quickly accelerating after the year 2040, growing from a $1.5 trillion market size to more than $9 trillion in 10 years.

CtW Investment Group is asking DoorDash shareholders to vote against the reelection of co-founder Tony Xu to the board of directors, saying more oversight is needed.

Investors sent DoorDash stock soaring on Friday after the company reported stronger-than-expected earnings in Q1 and raised its guidance for full-year 2021.

Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.

With recent financing from major fleets, TuSimple eschewed the blank check company frenzy to chart its own course to public trading.

Uber’s stock dips on a report that Goldman Sachs is looking to unload 38 million shares. The company has made several moves recently to shore up the balance sheet and sustain its cash-intensive brokerage segment.

Sell-side research analysts have made their bets on trucking in 2021. Some believe a continuation in consumer spending and inventory restocking will benefit truckload carriers while others see less-than-truckload carriers gaining traction as the industrial economy advances.

The market for reliable, complete data and forecasts about agricultural commodities markets is a large and growing opportunity.

Morgan Stanley survey shows coronavirus disruption is accelerating for carriers, shippers and brokers, but the height of the disruption may be closer than some may think.

While transportation industry participants have an abundance of questions loaded for management teams this earnings season, answers on the future will be tough to provide.

Traffic data tracked by Inrix is indicating much quicker commute times for those on the roads during rush hour as more workers stay home. Plus, J.B. Hunt to pay bonuses, GE cutting its workforce, and St. Christopher’s Truckers Relief Fund facing a critical time.

Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.

As experts predict price increases and late deliveries from coronavirus, some industry insiders say the threat is overblown.

Proceeds could give Canada’s largest transportation company more firepower to pursue acquisitions as it prepares to make a big leap into capital markets south of the border.

Shippers in a Morgan Stanley survey are optimistic over the macro environment and expect rate improvement moving forward. Plus, Chinese New Year impacts and supply chain sustainability takes a hit.

Outlook for future improvement to earnings is still hazy as Morgan Stanley analyst lowers fourth-quarter estimates for most transportation companies.

Car-haulers face challenging times. Kalanick sells out-literally. Will Amazon’s free standing logistics model spring forth?

FedEx on the ropes after awful fiscal q2 results, stock price plunge

Tesla’s truck may not comply with Euro standards. Consultant takes issue with Morgan Stanley’s Amazon firecast

Morgan Stanley eyeing truck capacity constraints and higher rates in 2020, potentially reaching 2018 levels or higher.

Expect rate divergences between FedEx and UPS into 2020, led by dramatic changes in last-mile deliveries

Analysts now want CHRW to cut costs.

XPO Logistics may be getting back in the M&A game

Morgan Stanley, Susquehanna, and Deutsche Bank cut their price targets; Stifel maintained.

We look at the trucking futures forward curve, Morgan Stanley’s index, the Coyote Curve, and projections from Susquehanna.

Port container volumes, railroad volumes, and truckload volumes are all down year-over-year.

Cargo thefts fell 19 percent in 2018 compared to the year before, according to SensiGuard. Plus, the EU cuts a deal on truck emissions and another trucker protest is planned for this week.

Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley (NYSE: MS), has purchased a majority stake of KSH Infra Pvt. Ltd. for INR (Rupees) 3.5 billion or $49 million.

Investors may be starting to come around to the idea that truckload carriers have another year of strong margins ahead of them.

The company’s stock took it on the chin for much of 2018 but the company said it had a strong fourth quarter.

Everyone knew the quarter was weaker than it had been. The question is how much. Stock prices have reflected a significant slowdown.

Will Amazon take more boxes at the expense of FedEx, UPS, USPS?

Morgan Stanley likes asset-based carriers while Stifel is bullish on 3PLs, and the banks don’t agree on what the business risks to C.H. Robinson are.

Amazon Air presents a new challenge to legacy air freight carriers by announcing a new hub at Fort Worth Alliance airport.

Also in the pickup: the sad state of interstate 81; farmers and truckers in the news; Saia’s fourth-quarter status report

Investment bank Stifel Nicolaus (NYSE: SF) thinks that publicly-traded truckload stocks are now an attractive buy, with higher earnings available at reasonable valuations. That’s just one takeaway from a raft of research released this week by Stifel and Morgan Stanley (NYSE: MS) as the banks look forward to what next year holds for transportation. 

Also in the pickup: Morgan Stanley index, and a move back to sailing across the ocean.

How much of the strength is pre-tariff purchases? How much of the talk of weakness is “on the other hand” economics?

Also today: going to jail for bogus CDLs; ecommerce driving the Canada Post labor dispute.

XPO stock dragged down by soft Q3 results, M&A impatience.

Also in the pickup: IMO meets with 2020 on the horizon; Rhine levels are causing plants to shut down; C.R. England and its charitable cause

The usual signs of an upturn in the trucking sector aren’t there, according to the Wall Street house, and Morgan wonders if a lot of the demand got pushed forward.

Morgan Stanley’s Truckload Freight Index has decreased over the last two weeks and has now underperformed seasonality two updates in a row. This seasonal deceleration is not unusual, as July and August tend to be weaker.

A panel of financial experts were mixed when asked whether the industry would see higher spot rates one year from now, but continued capacity issues was not in debate.

Shippers are anticipating continued volume increases, tighter capacity, and further rate increases according to a Morgan Stanley survey.

Carriers continue to feel good about 2018, according to the latest Morgan Stanley survey, however, overall sentiment declined in the past two weeks and underperformed seasonality.

Morgan Stanley and SIG see great prospects for truckload carrier stocks going into 2018. Large carriers’ valuations should benefit from both the ELD mandate and the GOP tax reform.

The seventh and final ELD survey conducted by Morgan Stanley before the Dec. 18 compliance date has found that capacity is expected to tighten about 3.44%, the highest level of all the surveys, the firm said.

Nearly 30% of carriers are not yet in full compliance with the upcoming electronic logging device mandate and 15% said they will not be fully compliant at the deadline, according to the latest Morgan Stanley ELD survey.