US Xpress Enterprises

Knight-Swift Transportation warned Wednesday that second-quarter results are likely to disappoint in a news release also confirming it has closed on the previously announced acquisition of truckload carrier U.S. Xpress. The transportation and logistics provider said a weaker than expected operating environment in the truckload sector would likely result in consolidated operating margin deterioration of 1,100 to 1,200 basis points year over year (y/y) in the second quarter and that its full-year guidance would be updated when it reports results on July 20. » Mehr auf freightwaves.com

The Knight-Swift acquisition of truckload carrier U.S. Xpress has closed, with U.S. Xpress stock no longer trading and the company filing a delisting document with the Securities and Exchange Commission. Knight-Swift (NYSE: KNX) has made no comment or filing about the closing of the deal, but U.S. Xpress' notice Monday to the SEC delisting its stock from the New York Stock Exchange says the closing was effective July 1. » Mehr auf freightwaves.com

U.S. Xpress, headed toward being acquired by Knight Swift (NYSE: KNX), has settled litigation that goes back to its initial public offering and what followed in the months after it became a publicly traded company. The $13 million settlement will need one more court hearing, scheduled for July 10, to be fully implemented. » Mehr auf freightwaves.com