Less-than-truckload carrier Saia saw tonnage growth accelerate on a year-over-year comparison in August, but it faced an easier prior-year comp during the month than it did in July.
Johns Creek, Georgia-based Saia (NASDAQ: SAIA) reported Thursday an 8.7% y/y tonnage increase in August as daily shipments stepped 1.1% higher and weight per shipment jumped 7.5%. The metrics improved slightly from July's y/y growth rates due to easier prior-year comps.
On a two-year-stacked comparison, Saia's tonnage increases slowed for a second straight month (+6.5% in August and +8.7% in July). That said, the carrier implemented a 7.1% general rate increase on July 6, which it noted can create some near-term volatility. Further, the carrier faces easier prior-year comps (excluding November) the rest of the year.
Saia does not provide revenue-based metrics in its intraquarter updates.
However, the company previously noted that revenue per shipment increased 4% from the beginning to the end of the second quarter. The recent GRI was 120 basis points higher and three months earlier than last year's rate ***** p—another positive sign. And, contractual rate renewals averaged 10.7% in the second quarter (+15.8% on a two-year-stacked comp).

#carrier #tonnage

Less-than-truckload carrier Old Dominion Freight Line saw yield growth accelerate in August, but tonnage remained slightly negative, according to a Thursday update.
The Thomasville, North Carolina-based company's daily revenue increased 12.4% year over year in August, an improvement from the 8.2% y/y growth rate logged in July. However, diesel fuel prices increased 46% y/y in August compared with a 31% y/y increase in July. (Fuel was up 10% sequentially in August.)
Less-than-truckload fuel surcharge programs include a step function as diesel prices rise, typically resulting in better margins.
Old Dominion's (NASDAQ: ODFL) yield growth accelerated from July, both with and without fuel surcharges. August revenue per hundredweight (yield) was likely 13% higher y/y with fuel surcharges, and roughly 5.5% higher excluding fuel. The July growth rates were 9.3% and 4.2%, respectively. (Growth rates for the two months combined were 11.3% and 4.8%, respectively.) Higher shipment weights were a modest drag on the yield metrics in both months.
"Old Dominion produced solid revenue growth for July and August, with underlying demand trends remaining relatively consistent as the quarter has progressed," said Marty Freeman, president and CEO, in a news release. "In addition, the strength and consistency of our industry-leading service continue to support the ongoing improvement in our LTL revenue per hundredweight."

#revenue #higher

Less-than-truckload carrier FedEx Freight announced Wednesday after the market closed that it has terminated Mike Lyons, its chief specialized services and commercial officer. Lyons was appointed to the role in June 2025, one year ahead of the company's spinoff from FedEx Corp.
"Following an internal investigation, the Company determined Mr. Lyons violated its Code of Conduct and no longer met the standards of employment at FedEx Freight," a filing with the Securities and Exchange Commission stated. "Mr. Lyons's conduct was not related to and did not impact the Company's financial reporting or performance, internal controls, strategy, or customer relationships."
The company said duties performed by Lyons will be reassigned to other executives while it conducts a search for a replacement.
Lyons had been with the company for 19 years, according to his LinkedIn page. He led commercial strategy and customer experience as well as FedEx Custom Critical.
FedEx (NYSE: FDX) announced the new executive leadership team for FedEx Freight (NYSE: FDXF) in June 2025.

#conduct #internal

Nvidia's less famous telecom investment had more than doubled on paper by midyear. In October 2025, NVIDIA Corporation (NASDAQ:NVDA) agreed to invest $1 billion in Nokia at $6.01 per share. Nvidia's Q2 13F valued the stake at about $2.2 billion as of June 30. The marked gain is impressive, but the strategic prize is larger: Nokia Corporation (NYSE:NOK) and Nvidia are developing AI-RAN technology intended to carry artificial intelligence from data centers into mobile networks and eventually 6G.
NVIDIA Corporation (NASDAQ:NVDA) wants the network itself to become accelerated computing infrastructure. If radio access networks adopt software-defined, AI-enabled architectures, Nvidia can sell computing, networking, and software into a market beyond hyperscale data centers. The bull case is that inference moves closer to users and telecom operators use spare network capacity for AI workloads. The bear case is timing. Standards, carrier budgets, and commercial rollouts move slowly, making near-term revenue difficult to separate from long-term vision.
Nokia Corporation (NYSE:NOK) gains a strategic partner, capital, and access to an AI platform that can make its radio portfolio more competitive. A successful AI-RAN transition could improve product differentiation and create recurring software opportunities. Yet Nokia must balance that promise with operator spending cycles, intense competition, and the risk that open architectures reduce hardware pricing power. A valuable Nvidia stake does not by itself repair telecom margins.
The partnership is therefore an option on convergence. Nvidia supplies the compute ecosystem; Nokia supplies carrier relationships and radio expertise. Each fills a gap the other cannot quickly build. However, investors should not treat the June valuation as a realized return or ***** ume 6G revenue is imminent. The commercial value emerges only when operators deploy systems at scale and disclose credible returns with attractive economics across multiple markets.
Hedge-fund participation increased in both names. Nvidia ownership rose to 285 funds in the second quarter from 275, while Nokia ownership increased to 81 funds from 66. Fisher ***** et Management raised its Nvidia stake 3% to 90.9 million shares, and Marshall Wace increased its Nokia position 232% to 33 million shares. As of August 14, 43.2 million Nokia shares were sold short, only 0.75% of the float and 0.6 days of average trading volume. The low reported short-interest percentage shows limited reported short positioning, but it does not identify the holders or tell us why those positions exist. Nvidia's paper gain rewards the entry price; the real upside depends on AI-RAN becoming a commercial bridge to 6G.

#nokia #stake

Freight broker FitzMark announced it has acquired United Transportation Services, a broker specializing in trade show logistics.
Founded in 1998, Aurora, Colorado-based UTS is a full-service 3PL focused on the retail and hospitality industries. It provides dry van, refrigerated, flatbed and specialty truckload transportation as well as packaging, warehousing and white-glove delivery services.
Financial terms of the transaction were not disclosed. The deal closed on Tuesday.
"Today marks an exciting new chapter— with the national support and strength of the FitzMark platform, we look forward to expanding capacity and service offerings while growing our shipper community together," said Bruce Parsons, CEO and president of UTS.
Indianapolis-based FitzMark provides brokerage services and a proprietary TMS to more than 3,000 shippers and 25,000 carriers. The company is backed by private equity firm Calera Capital.

#fitzmark #service #united

AI gate automation cut dwell times to under 30 seconds while EAIGLE posted 350% year-over-year growth. CEO Amir Hoss explains how the company uses existing security cameras and computer vision to automate gate, yard and dock workflows.On site at a live facility, Hoss breaks down how EAIGLE went from a customer problem to a fully automated, paperless gate and yard operation. He also explains why the next growth phase matters for carriers, shippers and warehouse operators trying to move trucks through the yard faster.#GateAutomation #YardManagement #SupplyChainAI
EAIGLE, an automation company focused on gate-to-dock logistics, has closed a growth funding round on the heels of 350% year-over-year revenue growth, CEO and founder Amir Hoss said in an interview with FreightWaves. The company's computer vision platform reduces gate dwell times that previously ranged from 7.5 to 18 minutes down to under 30 seconds — and sometimes under one minute — by tapping into camera infrastructure that facilities already own.
The technology matters to carriers, brokers, and shippers because gate congestion and yard opacity have long been among the most stubborn inefficiencies in distribution operations. EAIGLE's system automates the full check-in and check-out process, validates bills of lading, purchase orders, appointments, and USDOT numbers in real time, and feeds clean data directly into yard management, warehouse management, and transportation management systems via APIs.
At one active facility where Hoss spoke — a site processing roughly 1,100 trucks per day across two gates and four lanes — EAIGLE replaced 18 full-time staff across three shifts with a fully unmanned, paperless operation. "We didn't validate here, we just log," Hoss recalled a security guard telling him five or six years ago, a dynamic he said rendered downstream YMS data unreliable. "It becomes garbage in and garbage out," he said.
"The bar is really high because you own that responsibility of initiating the high accuracy and complete data capture and validation for the rest of the systems in the supply chain ecosystem of each one of the operational customers."

#eaigle #amir #automation

TruckSmarter announced on Tuesday that it has been acquired and that its driver app, Dispatch, shuts down on Friday, September 4.
The scale is what makes this more than a routine startup wind-down. More than 500,000 carriers have used the TruckSmarter platform, which included a free load board alongside the paid Dispatch product. Dispatch was an AI chat interface that let a driver ask for freight in plain language and had software agents handle the bidding and booking, rather than making the driver work a traditional load board.
Automated replies from the company indicated that active Dispatch subscriptions are canceled Friday, and that invoices paid within the previous 30 days will be refunded within seven business days of cancellation. Co-founder and chief executive Dan Kao posted a message inside the app thanking users for five years of trust, and drivers and trucking groups spread screenshots of it across social media.
One thing has been ruled out. OTR Solutions, which bought TruckSmarter's factoring and banking division in November 2025, told FreightWaves it did not acquire the remaining business.
So a company that raised money twelve months ago is gone by Friday, and ****** ody will say who bought it. That combination has a name in technology, even if no one involved here has used it.

#Friday #load #board #company

Charis Plakantonaki, Chief Strategy Officer of Star Bulk Carriers(NASDAQ:SBLK), reported a sale of 10,825 shares on Aug. 14, 2026, according to a SEC Form 4 filing.
Metric
Value
Shares sold (directly held)
10,825

#chief #carriers

Defunct Yellow Corp. has reached settlement agreements with four multiemployer pension plans totaling up to $526 million to resolve remaining withdrawal liability claims. The deals are supported by its largest shareholder, MFN Partners, and would bring an end to a legal battle that began shortly after the less-than-truckload carrier filed for bankruptcy in August 2023.
(Yellow previously agreed to terms with most of the MEPPs it once contributed to on behalf of employees.)
New York State Teamsters Conference Pension and Retirement Fund, Western Conference of Teamsters Pension Trust Fund, and Western Pennsylvania Teamsters and Employers Pension Fund would receive the bulk of the funds. New York Teamsters are seeking approval for a $300 million claim.
A federal bankruptcy court in Delaware has been asked to approve the plan, which "will bring the current multi-year long MEPP litigation in these cases to an end … thus allowing the Liquidating Trust to begin making meaningful distributions to general unsecured claimants."
As part of the deal, MFN has agreed to drop its pending appeals and will waive its right to file certain legal fees and expenses.

#teamsters #conference #western

GOFFSTOWN - Avery Flynn had 29 **** ists and 13 digs as the Dover High School volleyball team, the defending Division I state champions, opened with a 3-2 win over Goffstown.
Individual game scores were 21-25, 25-21, 12-25, 25-22, 15-12.
"It was a great win," Dover head coach Whitney Carrier said. "We have spent a lot of time in preseason putting ourselves in difficult situations so we can learn how to deal with the stress and pressure of struggling through something, and that paid off tonight. They worked really hard as a team and I'm proud of them."
Molly OConnor added nine kills and four aces for the Green Wave, while Rylen Marchione had seven kills and three blocks.
Exeter 3

#dover #kills #division #individual

Private equity firm Trident Management appears to be an early mover in bolting together small courier businesses onto a platform that can offer shippers greater regional density and reach as an alternative to large, legacy parcel carriers.
Trident-backed Priority Courier Experts, which serves B2B customers in the Minneapolis-St. Paul area and upper Midwest, last week said it acquired Priority Dispatch Inc. and Diamond Expedited, Midwest providers of same-day courier and box-truck freight services for the healthcare and e-commerce industries, and Atlanta-based Inpax Shipping Solutions.
Priority Dispatch was founded in Cincinnati in 1973. Diamond Expedited began serving the greater Chicago area in 1995. The companies, which were bought from the same individual, also cover Columbus, Cleveland, Dayton and Toledo, Ohio; Indianapolis; Detroit and Milwaukee, with 43 employees and more than 500 independent-contractor drivers. Their combined delivery traffic is about 250,000 orders per year.
Inpax is active in seven markets across the South, including Charlotte and Raleigh, North Carolina, Tennessee, South Carolina and Florida. With 75 employees and more than 335 owner-operators it delivers more than 400,000 orders per year. In addition to e-commerce pickup and delivery, it offers local and regional truck brokerage and tractor trailer freight.
In December 2024, Priority Courier Experts purchased Indianapolis-based Now Courier.

#Experts #indianapolis

EuroDry (EDRY) has surged nearly 350% over the past year, driven by strong technical momentum and robust ***** yst sentiment.
Shares set an all-time high at the end of August 2026.
EDRY maintains a 100% "Buy" technical opinion from Barchart.
Analysts rate EDRY as "Strong Buy," but Morningstar flags it as 18% overvalued, highlighting the need for disciplined risk management.
Valued at $141 million, EuroDry (EDRY) is an owner and operator of drybulk vessels and a provider of seaborne transportation for drybulk cargoes. It operates 11 dry bulk carriers across the Ultramax, Kamsarmax, Panamax, and Supramax classes.

#edry #strong #barchart

The Dallas Cowboys made one of the more surprising decisions during the NFL's final round of roster cuts, moving on from running backs Jaydon Blue and Phil Mafah. The two young players entered the offseason competing for a larger role, but neither survived the battle for a place behind the team's top option.
Blue and Mafah were part of a three-way competition with Malik Davis for the No. 2 running back job. Dallas ultimately chose Davis, leaving the two younger ball carriers without roster spots and creating a notable shakeup in a position group that appeared unsettled throughout the offseason.
Aug 22, 2025; Arlington, Texas, USA; Teammates celebrate with Dallas Cowboys running back Jaydon Blue (34) after he scores a touchdown against the Atlanta Falcons during the first quarter at AT&T Stadium. Mandatory Credit: Andrew Dieb-Imagn Images
Blue's release was particularly surprising because the Cowboys selected him in the fifth round of the 2025 draft. The former Texas standout spent only one season with the organization, and his departure ended a short tenure that began with expectations he could eventually develop into a meaningful contributor.
Mafah also entered the league with draft pedigree, though Dallas invested less in him as a seventh-round selection. His rookie season included limited opportunities, producing 18 rushing yards and a touchdown on five carries while adding two receptions for 11 yards, but those flashes were not enough to secure his return.

#cowboys #davis #surprising

On August 25, SelectQuote (NASDAQ:SLQT) told investors that cash generation, not growth, is now the entire point of owning the stock. Fiscal 2026 revenue reached $1.62 billion, up 6% year over year, and operating cash flow climbed $44 million from the prior year. But the same release showed a fourth-quarter net loss of $16.8 million, a reversal from $12.9 million in net income a year earlier, and a fiscal 2027 guide that points meaningfully lower on the top line. That gap between the narrative and the numbers underneath it is worth sitting with.
Healthcare Services, built around the company's SelectRx pharmacy, generated $845 million in revenue for fiscal 2026, up 14% even as Inflation Reduction Act drug pricing changes cut into the segment starting in the back half of the year. That business exited the fourth quarter at an annualized adjusted EBITDA run rate of nearly $50 million, roughly double the $25 million it produced across the full year, and management expects those margins to keep expanding as more prescriptions route through the company's Olathe, Kansas facility, which is already shipping about 30% more efficiently than its older sites.
Layered on top, SelectQuote identified more than $30 million in annualized run rate savings from AI-enabled enrollment tools and workflow automation. The Senior segment, meanwhile, held a 26% adjusted EBITDA margin for a fourth straight year in the mid-20% range, evidence that the agent-led distribution model keeps producing steady profit even when Medicare Advantage carriers shift benefits underneath it. Add in a commissions receivable balance north of $1 billion, and the company argues its underlying earnings power is bigger than its stock price reflects.
The guidance tells a different story. SelectQuote expects fiscal 2027 revenue of $1.35 billion to $1.45 billion, roughly 14% below fiscal 2026 at the midpoint, with Medicare Advantage approved policies projected to fall another 10% to 15% after already declining 4% this past year. Senior segment revenue already dropped 4% in fiscal 2026 to $576 million, partly because a major carrier partner pulled back its own marketing spending, a reminder of how much SelectQuote's results depend on decisions made by insurers it does not control.
The Inflation Reduction Act will keep pressuring Healthcare Services revenue through fiscal 2027, with especially messy comparisons in the first half. SelectRx membership already moderated to 109,039 members and is expected to dip further before recovering. Underneath all of it sits $800 million in debt and preferred equity carrying a roughly 12% funding cost, translating into $45 million of annual cash interest that has to be paid regardless of how enrollment season goes. Management itself called the term life insurance market competitive on customer acquisition costs, a small but telling admission that not every corner of the business is running cleanly.

#million #fiscal #already

Riverwater Partners, an investment management company, released its 'Small Cap Strategy' Q2 2026 investor letter. The letter can be downloaded here. The Small Cap Strategy underperformed the Russell 2000 in the second quarter as the benchmark experienced one of its strongest risk-on rallies in recent memory, although the strategy remained ahead year-to-date. The quarter was defined by accelerating AI investment, energy market disruptions, and renewed investor appetite for higher-beta stocks, creating headwinds for the firm's quality-focused approach and healthcare positioning. Despite this, stock selection contributed positively in energy, materials, and financials, while healthcare and consumer discretionary detracted due to the fund's disciplined avoidance of speculative businesses. Looking ahead, the firm remains cautiously optimistic, focusing on opportunities created by market dislocations, including AI infrastructure enablers, select consumer companies, healthcare innovators, and energy businesses trading below intrinsic value. The strategy continues to emphasize high-quality companies with strong management teams and attractive valuations, positioning the portfolio for a potential rotation away from speculative market leadership. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Riverwater Partners Small Cap Strategy highlighted Werner Enterprises, Inc. (NASDAQ:WERN). The Fund added Werner Enterprises, Inc. (NASDAQ:WERN) which engages in transporting truckload shipments of general commodities in interstate and intrastate commerce, to its portfolio during the quarter. On August 31, 2026, Werner Enterprises, Inc. (NASDAQ:WERN) closed at $39.18 per share. The one-month return of Werner Enterprises, Inc. (NASDAQ:WERN) was 2.27% and its shares gained 37.43% over the past 52 weeks. Werner Enterprises, Inc. (NASDAQ:WERN) has a market capitalization of $2.35 billion with a 52-week trading range between $23.06 to $47.49.
Riverwater Partners Small Cap Strategy stated the following regarding Werner Enterprises, Inc. (NASDAQ:WERN) in its Q2 2026 investor letter:
"Late in the quarter we initiated Werner Enterprises, Inc. (NASDAQ:WERN), one of the largest truckload carriers. A landmark liability ruling now places responsibility for driver safety squarely on carriers with the balance sheets to insure it, a change we believe will force as much as a third of industry capacity, concentrated among small and marginal operators, to consolidate or exit. Large, well-capitalized carriers such as Werner should be the direct beneficiaries through pricing power and share gains. Only two of fifteen covering ****** ysts rated the stock a buy when we purchased it, which is precisely the setup we look for: identifying the inflection before the upgrade cycle begins."

#wern

ShipStation, a provider of multicarrier parcel shipping software, is offering e-commerce sellers the ability to also select and coordinate with less-than-truckload operators at pre-negotiated rates in one integrated platform, bringing to life promised benefits from ownership's recent acquisition of freight brokerage Worldwide Express Group.
Few, if any, software-as-a-service companies that connect small-and-midsize merchants with parcel carriers offer a pallet-shipping solution.
"Most of those small companies don't have enough volumes to do full truckload so their first need after parcel shipping tends to be LTL, which creates this natural linkage between LTL freight brokerage and parcel," said Chris Wofford, the founder of Wofford Advisors LLC, a strategic advisory firm for the logistics sector.
In early June, private equity firm Thoma Bravo acquired WWEX Group and merged it with portfolio company Auctane, which provides shipping and fulfillment technology through brands like ShipStation, Stamps.com, Metapack and Packlink. The combined valuation of the companies is $12 billion.
WWEX Group companies include Worldwide Express, GlobalTranz, Unishippers, JEAR Logistics and BLX Logistics.

#group #Logistics

Riverwater Partners, an investment management company, released its 'Small Cap Strategy' Q2 2026 investor letter. The letter can be downloaded here. The Small Cap Strategy underperformed the Russell 2000 in the second quarter as the benchmark experienced one of its strongest risk-on rallies in recent memory, although the strategy remained ahead year-to-date. The quarter was defined by accelerating AI investment, energy market disruptions, and renewed investor appetite for higher-beta stocks, creating headwinds for the firm's quality-focused approach and healthcare positioning. Despite this, stock selection contributed positively in energy, materials, and financials, while healthcare and consumer discretionary detracted due to the fund's disciplined avoidance of speculative businesses. Looking ahead, the firm remains cautiously optimistic, focusing on opportunities created by market dislocations, including AI infrastructure enablers, select consumer companies, healthcare innovators, and energy businesses trading below intrinsic value. The strategy continues to emphasize high-quality companies with strong management teams and attractive valuations, positioning the portfolio for a potential rotation away from speculative market leadership. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Riverwater Partners Small Cap Strategy highlighted NetScout Systems, Inc. (NASDAQ:NTCT) as a new addition. NetScout Systems, Inc. (NASDAQ:NTCT) provides carrier service ****** urance, cybersecurity, and Distributed Denial-of-Service (DDoS) solutions to protect digital business services against disruptions. On August 31, 2026, NetScout Systems, Inc. (NASDAQ:NTCT) closed at $38.83 per share. The one-month return of NetScout Systems, Inc. (NASDAQ:NTCT) was -8.01% and its shares gained 57.59% over the past 52 weeks. NetScout Systems, Inc. (NASDAQ:NTCT) has a market capitalization of $2.82 billion with a 52-week trading range between $24.27 - $45.28.
Riverwater Partners Small Cap Strategy stated the following regarding NetScout Systems, Inc. (NASDAQ:NTCT) in its Q2 2026 investor letter:
"We initiated a position in NetScout Systems, Inc. (NASDAQ:NTCT) in April. Founded in 1984, NetScout Systems, Inc. (NTCT), with a stated mission of "Guardians of A Connected World," has been a technology innovator providing service ****** urance and cybersecurity solutions based on its pioneering deep packet inspection technology at scale. While high-growth competitors trade at significant premiums, NetScout offers a more attractive valuation for what we view as a durable software business with deeply embedded customer relationships among the Fortune 500. Its deep packet inspection technology is increasingly critical as enterprises navigate complex digital transformations, cloud migrations, and a heightened threat landscape. We view NTCT as a disciplined way to gain exposure to secular technology tail

United Parcel Service announced Monday afternoon the adoption of a new operating model and leadership structure aimed at better exploiting its global network to accelerate profit growth as it evolves from a traditional small package carrier to more of an integrated logistics provider.
The timing of the move coincides with the major phase-out of low-margin Amazon business and downsizing of its domestic parcel network, which were largely completed by the end of June.
Under the new approach, UPS (NYSE: UPS) will standardize processes and procedures across geographies while maintaining the flexibility to meet the unique needs of local markets. UPS said it wanted to give customers greater consistency, agility, and scale as the company deemphasizes its traditional status as a small package carrier to focus more on being an integrated logistics provider.
As e-commerce growth normalized following the Covid-fueled boom and low-cost delivery competitors entered the market, UPS parcel volumes have stagnated.
Why It Matters: The company has stressed for two years that it intends to deemphasize last-mile delivery of e-commerce packages and focus more on high-value, premium market segments like healthcare, industrial, and automotive logistics, as well as services for small-and-medium size businesses. Now there is more concrete evidence about the direction UPS is going.

#Growth #package #integrated #provider

WASHINGTON (AP) — President Donald Trump said Tuesday that he is nominating acting Navy Secretary Hung Cao for the permanent job, giving the Navy combat veteran the nod as concerns have emerged that some sailors have been stretched to the limit during the Iran war.
Cao has been serving as acting Navy secretary since John Phelan departed the job unexpectedly and without explanation in late April. Unlike Phelan, who had not served in the military or had a civilian leadership role in the service, Cao spent 25 years in the Navy as a special operations officer and went on to serve with SEAL teams and special forces in Iraq and Afghanistan.
"I am pleased to nominate a true WARRIOR," Trump wrote on social media, prodding the Senate "to confirm this Warfighter, ASAP."
Cao on social media called it the "honor of a lifetime to lead the great warriors of the Navy and Marine Corps team."
Cao's nomination comes as some, including Democrats in Congress, believe Trump has been overtaxing the Navy. The USS Abraham Lincoln aircraft carrier's nine-month deployment to support the Iran war has included a record-setting uninterrupted time at sea.

#navy #Trump #secretary #special

On August 25, SelectQuote (NASDAQ:SLQT) told investors that cash generation, not growth, is now the entire point of owning the stock. Fiscal 2026 revenue reached $1.62 billion, up 6% year over year, and operating cash flow climbed $44 million from the prior year. But the same release showed a fourth-quarter net loss of $16.8 million, a reversal from $12.9 million in net income a year earlier, and a fiscal 2027 guide that points meaningfully lower on the top line. That gap between the narrative and the numbers underneath it is worth sitting with.
Healthcare Services, built around the company's SelectRx pharmacy, generated $845 million in revenue for fiscal 2026, up 14% even as Inflation Reduction Act drug pricing changes cut into the segment starting in the back half of the year. That business exited the fourth quarter at an annualized adjusted EBITDA run rate of nearly $50 million, roughly double the $25 million it produced across the full year, and management expects those margins to keep expanding as more prescriptions route through the company's Olathe, Kansas facility, which is already shipping about 30% more efficiently than its older sites.
Layered on top, SelectQuote identified more than $30 million in annualized run rate savings from AI-enabled enrollment tools and workflow automation. The Senior segment, meanwhile, held a 26% adjusted EBITDA margin for a fourth straight year in the mid-20% range, evidence that the agent-led distribution model keeps producing steady profit even when Medicare Advantage carriers shift benefits underneath it. Add in a commissions receivable balance north of $1 billion, and the company argues its underlying earnings power is bigger than its stock price reflects.
The guidance tells a different story. SelectQuote expects fiscal 2027 revenue of $1.35 billion to $1.45 billion, roughly 14% below fiscal 2026 at the midpoint, with Medicare Advantage approved policies projected to fall another 10% to 15% after already declining 4% this past year. Senior segment revenue already dropped 4% in fiscal 2026 to $576 million, partly because a major carrier partner pulled back its own marketing spending, a reminder of how much SelectQuote's results depend on decisions made by insurers it does not control.
The Inflation Reduction Act will keep pressuring Healthcare Services revenue through fiscal 2027, with especially messy comparisons in the first half. SelectRx membership already moderated to 109,039 members and is expected to dip further before recovering. Underneath all of it sits $800 million in debt and preferred equity carrying a roughly 12% funding cost, translating into $45 million of annual cash interest that has to be paid regardless of how enrollment season goes. Management itself called the term life insurance market competitive on customer acquisition costs, a small but telling admission that not every corner of the business is running cleanly.

#million

ShipStation, a provider of multicarrier parcel shipping software, is offering e-commerce sellers the ability to also select and coordinate with less-than-truckload operators at pre-negotiated rates in one integrated platform, bringing to life promised benefits from ownership's recent acquisition of freight brokerage Worldwide Express Group.
Few, if any, software-as-a-service companies that connect small-and-midsize merchants with parcel carriers offer a pallet-shipping solution.
"Most of those small companies don't have enough volumes to do full truckload so their first need after parcel shipping tends to be LTL, which creates this natural linkage between LTL freight brokerage and parcel," said Chris Wofford, the founder of Wofford Advisors LLC, a strategic advisory firm for the logistics sector.
In early June, private equity firm Thoma Bravo acquired WWEX Group and merged it with portfolio company Auctane, which provides shipping and fulfillment technology through brands like ShipStation, Stamps.com, Metapack and Packlink. The combined valuation of the companies is $12 billion.
WWEX Group companies include Worldwide Express, GlobalTranz, Unishippers, JEAR Logistics and BLX Logistics.

#parcel #Companies #wwex

Riverwater Partners, an investment management company, released its 'Small Cap Strategy' Q2 2026 investor letter. The letter can be downloaded here. The Small Cap Strategy underperformed the Russell 2000 in the second quarter as the benchmark experienced one of its strongest risk-on rallies in recent memory, although the strategy remained ahead year-to-date. The quarter was defined by accelerating AI investment, energy market disruptions, and renewed investor appetite for higher-beta stocks, creating headwinds for the firm's quality-focused approach and healthcare positioning. Despite this, stock selection contributed positively in energy, materials, and financials, while healthcare and consumer discretionary detracted due to the fund's disciplined avoidance of speculative businesses. Looking ahead, the firm remains cautiously optimistic, focusing on opportunities created by market dislocations, including AI infrastructure enablers, select consumer companies, healthcare innovators, and energy businesses trading below intrinsic value. The strategy continues to emphasize high-quality companies with strong management teams and attractive valuations, positioning the portfolio for a potential rotation away from speculative market leadership. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Riverwater Partners Small Cap Strategy highlighted Werner Enterprises, Inc. (NASDAQ:WERN). The Fund added Werner Enterprises, Inc. (NASDAQ:WERN) which engages in transporting truckload shipments of general commodities in interstate and intrastate commerce, to its portfolio during the quarter. On August 31, 2026, Werner Enterprises, Inc. (NASDAQ:WERN) closed at $39.18 per share. The one-month return of Werner Enterprises, Inc. (NASDAQ:WERN) was 2.27% and its shares gained 37.43% over the past 52 weeks. Werner Enterprises, Inc. (NASDAQ:WERN) has a market capitalization of $2.35 billion with a 52-week trading range between $23.06 to $47.49.
Riverwater Partners Small Cap Strategy stated the following regarding Werner Enterprises, Inc. (NASDAQ:WERN) in its Q2 2026 investor letter:
"Late in the quarter we initiated Werner Enterprises, Inc. (NASDAQ:WERN), one of the largest truckload carriers. A landmark liability ruling now places responsibility for driver safety squarely on carriers with the balance sheets to insure it, a change we believe will force as much as a third of industry capacity, concentrated among small and marginal operators, to consolidate or exit. Large, well-capitalized carriers such as Werner should be the direct beneficiaries through pricing power and share gains. Only two of fifteen covering ******* ysts rated the stock a buy when we purchased it, which is precisely the setup we look for: identifying the inflection before the upgrade cycle begins."

#partners

Riverwater Partners, an investment management company, released its 'Small Cap Strategy' Q2 2026 investor letter. The letter can be downloaded here. The Small Cap Strategy underperformed the Russell 2000 in the second quarter as the benchmark experienced one of its strongest risk-on rallies in recent memory, although the strategy remained ahead year-to-date. The quarter was defined by accelerating AI investment, energy market disruptions, and renewed investor appetite for higher-beta stocks, creating headwinds for the firm's quality-focused approach and healthcare positioning. Despite this, stock selection contributed positively in energy, materials, and financials, while healthcare and consumer discretionary detracted due to the fund's disciplined avoidance of speculative businesses. Looking ahead, the firm remains cautiously optimistic, focusing on opportunities created by market dislocations, including AI infrastructure enablers, select consumer companies, healthcare innovators, and energy businesses trading below intrinsic value. The strategy continues to emphasize high-quality companies with strong management teams and attractive valuations, positioning the portfolio for a potential rotation away from speculative market leadership. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Riverwater Partners Small Cap Strategy highlighted NetScout Systems, Inc. (NASDAQ:NTCT) as a new addition. NetScout Systems, Inc. (NASDAQ:NTCT) provides carrier service ******* urance, cybersecurity, and Distributed Denial-of-Service (DDoS) solutions to protect digital business services against disruptions. On August 31, 2026, NetScout Systems, Inc. (NASDAQ:NTCT) closed at $38.83 per share. The one-month return of NetScout Systems, Inc. (NASDAQ:NTCT) was -8.01% and its shares gained 57.59% over the past 52 weeks. NetScout Systems, Inc. (NASDAQ:NTCT) has a market capitalization of $2.82 billion with a 52-week trading range between $24.27 - $45.28.
Riverwater Partners Small Cap Strategy stated the following regarding NetScout Systems, Inc. (NASDAQ:NTCT) in its Q2 2026 investor letter:
"We initiated a position in NetScout Systems, Inc. (NASDAQ:NTCT) in April. Founded in 1984, NetScout Systems, Inc. (NTCT), with a stated mission of "Guardians of A Connected World," has been a technology innovator providing service ******* urance and cybersecurity solutions based on its pioneering deep packet inspection technology at scale. While high-growth competitors trade at significant premiums, NetScout offers a more attractive valuation for what we view as a durable software business with deeply embedded customer relationships among the Fortune 500. Its deep packet inspection technology is increasingly critical as enterprises navigate complex digital transformations, cloud migrations, and a heightened threat landscape. We view NTCT as a disciplined way to gain exposure to secular technology ta

By Panarat Thepgumpanat and Chayut Setboonsarng
BANGKOK, Aug 31 (Reuters) - After a long deployment in the Middle East, a U.S. Navy aircraft carrier will dock in Thailand's resort city of Pattaya this week, raising hopes of an economic boost, even ‌as local authorities cracked down on parts of the **** tourism destination.
The Abraham Lincoln is due to dock on Wednesday ‌at nearby Laem Chabang, with two accompanying Navy vessels, to allow nearly 5,000 sailors and Marines aboard to rest and recuperate after over 200 days at sea, according to Thai officials.
Ahead of its arrival, police are preparing additional patrols around Pattaya's main beachfront and nightlife district besides raids over the weekend that led to 40 to 50 people in detention for suspected prostitution, officials said.
"We are doing our best, but it is difficult," Pattaya police chief Anek Srathongyoo said on Monday, explaining that **** workers could potentially solicit in public areas without the knowledge of the authorities.

#navy #dock #authorities #setboonsarng

On August 28, Frontline (NYSE:FRO) posted the best quarter in company history, with net income of $659 million and adjusted profit of $580 million for the second quarter of 2026, up $235 million from the prior quarter. The gains came from tanker rates that climbed across every vessel class Frontline operates, from its largest crude carriers to its smaller product tankers. CEO Lars Barstad described a market with no playbook, one where geopolitical disruption is reshaping how oil moves around the world. The bigger question left hanging on the call is how much of that strength holds once the disruptions ease.
VLCC rates hit $153,000 per day in the second quarter of 2026, while Suezmax and LR2/Aframax vessels earned $111,000 and $92,400 per day. That strength has carried into the third quarter, where Frontline has already booked 86% of VLCC days at $157,000 per day, 79% of Suezmax days at $117,000 per day, and 70% of LR2 days at $81,000 per day, evidence that rates are holding rather than sliding back. The fleet backing those numbers is young and efficient, averaging 6.6 years old, fully eco-designed, and 69% scrubber-fitted, which keeps cash breakeven costs between $22,200 and $25,700 per day, well under what the ships are currently earning.
That spread between cost and rate is throwing off real cash. Management estimated annual cash generation potential at $2.3 billion, or $10.35 per share, based on rates as of August 28, a 24% yield against the current share price. The balance sheet has room to match it: $1.2 billion in liquidity, no debt maturities until 2030, and a refinancing that cut the average interest rate margin by 52 basis points to 1.26%. Frontline also collected $270 million selling two VLCCs at about $135 million apiece, with Barstad noting some buyers are paying premiums for older tankers just to control their own logistics chains.
Much of the current rate strength traces back to friction rather than growth in oil demand. Crude exports from inside the Strait of Hormuz are down 82% amid recent disruptions, and China's crude imports have fallen 35%, cushioned by inventory drawdowns rather than fresh buying. Barstad pointed to a 23% increase in VLCC idling days, driven by ship-to-ship transfers off Fujairah and Malaysia that can triple the distance a cargo travels before reaching its final buyer. That inefficiency is tightening effective fleet supply even as actual volumes shrink, which is a different story than genuine demand growth.

#million #vlcc #strength #rather

Wireless carrier T-Mobile US (TMUS) shares have struggled to capture investors' attention over the past year as competition in the wireless market has intensified. Giants like AT&T (T) and Verizon (VZ) have stepped up promotions, discounts, and lower-priced plans to attract cost-conscious customers.
Meanwhile, cable operators are increasingly bundling mobile services with internet and TV to win subscribers. So, with competition coming from almost every direction, Elon Musk-led ******* eX's (SPCX) growing wireless ambitions might seem like one more problem for T-Mobile. But surprisingly, Wall Street sees it differently.
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#mobile #wall #Competition #tmus

BATAM, Indonesia (AP) — The U.S. aircraft carrier USS Abraham Lincoln sailed past Singapore early on Sunday as it headed home after a grueling deployment in the Middle East. It's expected to stop in Thailand for a port visit.
Associated Press journalists on the Indonesian island of Batam, across the Singapore Strait, spotted the massive vessel as it transited waters near Singapore just after 1 a.m. local time.
The Lincoln, one of the U.S. Navy's largest warships, was supporting the U.S. war against Iran. Its deployment included a record-setting uninterrupted time at sea of more than 250 days. Concerns have grown about the Lincoln's lengthy deployment following reports of deteriorating mental health among the crew and shortages of supplies including food and hygiene products.
Thai officials have said the Lincoln will stop in Thailand for rest and recovery before returning to its U.S. base.

#lincoln #Singapore #deployment #abraham

Two telecommunications giants recently showcased the contrasting sides of the 5G and connectivity ecosystem. On August 6, AT&T Inc. (NYSE:T) announced it selected Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) to supply 600 MHz dual-band radios to support the deployment of its newly acquired spectrum from EchoStar. The partnership reinforces AT&T's ongoing network modernization while keeping Ericsson deeply embedded in U.S. carrier infrastructure.
Shortly after, on August 10, AT&T demonstrated real-world execution by upgrading wireless connectivity at Mississippi State University's Davis Wade Stadium using a Distributed Antenna System powered by Airspan's MobileAccess 6000. While AT&T is actively converting network upgrades into sticky, high-margin subscriber growth, Ericsson faces the capital-intensive burden of hardware delivery.
Ken Wolter / Shutterstock.com
AT&T Inc. (NYSE:T) is showing a stronger financial trajectory and cash-generation profile than its equipment vendor partner, Ericsson. In Q2 2026, AT&T's consolidated revenue increased 2.3% year over year to $31.6 billion, supported by a 5.1% increase in Advanced Connectivity service revenue. Adjusted EPS surged 20.4% to $0.65, beating the $0.59 consensus estimate, while adjusted EBITDA rose 5.2% to $12.3 billion, producing a strong 39.1% margin. Free cash flow reached $4.7 billion, enabling management to raise its full-year share buyback target to $10 billion while maintaining its forecast for more than $18 billion in full-year free cash flow.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC), meanwhile, faced weaker operating momentum in Q2 2026, with net sales declining 6% year over year to SEK 52.7 billion, or approximately $5.0 billion, due to lower IPR licensing revenue and uneven carrier capital spending. Net income fell 12% to SEK 4.1 billion, or approximately $390 million, although adjusted gross margin remained resilient at 48.4%. Free cash flow before M&A, however, plunged from SEK 2.6 billion to just SEK 385 million, or approximately $36.7 million.

#year

Logistics rivals FedEx Corporation (NYSE:FDX) and United Parcel Service, Inc. (NYSE:UPS) shared the spotlight on August 20, when the U.S. Transportation Command awarded both giants modified defense contracts worth an estimated $2.72 billion each under the Next Generation Delivery Service-2 program. Securing multi-year government cash flows through September 2030 provides a steady baseline for both carriers. However, underneath this shared win lies a stark divergence in operational performance and investor sentiment.
Comparing FedEx's fiscal Q4 2026 with UPS's Q2 2026 highlights two distinct corporate turnarounds.
FedEx Corporation (NYSE:FDX) capped off its fiscal year with strong momentum. Q4 revenue surged 13% year-over-year to $25.0 billion, while adjusted EPS rose to $6.31, and management surpassed its $1 billion structural cost-savings target via its DRIVE program. With the spin-off of its Freight unit completed in June 2026, a leaner FedEx issued a confident calendar year 2026 outlook, projecting ~11% top-line growth and adjusted EPS of $16.90 to $18.10.
United Parcel Service, Inc. (NYSE:UPS) showed its own signs of life in Q2 2026 following a sluggish start to the year. Consolidated revenue increased 7.6% year-over-year to $22.8 billion, beating Wall Street expectations. Adjusted EPS came in at $1.76 against GAAP EPS of $0.71 (impacted by $891 million in transformation and driver severance costs). Adjusted operating margins expanded 40 basis points to 9.2%, led by a 21% operating profit jump in the U.S. Domestic package. The turn was strong enough for UPS to raise its full-year guidance, now projecting revenue of ~$91.2 billion and adjusted EPS of ~$7.22.
While both companies beat quarterly expectations and raised forecasts, FDX is currently outperforming on growth speed and structural network integration (Network 2.0), whereas UPS carries higher margin leverage but faces heavier transformation friction.

#year #corporation

Highway and Motive said in a joint statement that they have reached an agreement to restore the frequency at which Highway can access electronic logging device data belonging to Motive customers when carriers authorize that access, ending a disruption that began earlier after Motive limited the application programming interface connection between the two platforms and indicated Highway would need to compensate it for the data. The companies said they are working together to ensure uninterrupted service for the carriers and brokers that rely on both.
The statement said no action is required from carriers or brokers.
Both companies framed the resolution around carrier authorization. They said they share a commitment to giving motor carriers transparency and control over how their data is authorized and used, and that they are in discussions to update their existing agreement to more clearly reflect current use cases. The companies also said they intend to build on the relationship by identifying opportunities to improve data fidelity, reduce latency and create better experiences for carriers and brokers.
"Motive and Highway both play important roles in the freight ecosystem, and we are committed to serving customers together," said Jordan Graft, CEO of Highway. "We have a clear path forward that protects carrier choice and allows us to continue improving the experience for brokers and carriers."
Shoaib Makani, co-founder and CEO of Motive, said: "Our carriers depend on an ecosystem of partners to run their businesses. We are pleased to have reached a path forward with Highway that supports our customers and provides clarity around data use."

#carriers #brokers #customers #reached