Stock Market Update
16-Sep-26 10:35 ET
Freight names lower after J.B. Hunt flags higher fuel costs
Dow -163.28
at 51929.83,
Nasdaq +154.52
at 26157.14,
S&P +14.07
at 7599.80
[BRIEFING.COM] The S&P 500 (+0.2%), Nasdaq Composite (+0.6%), and DJIA (-0.3%) remain little changed from their opening lines.
J.B. Hunt Transport (JBHT 237.75, -35.30, -12.93%) is under pressure following comments it made at a Morgan Stanley conference last night, with investors focused on a meaningful Q3 earnings headwind from higher fuel costs and the lag in passing those costs through to customers. JBHT expects Q2 to Q3 earnings to decline 5-10%, which would put Q3 EPS at roughly $1.72-1.81, a good bit below current analyst expectations. While underlying freight demand remains strong and JBHT continues to gain share in Intermodal, the near-term earnings setup has become more challenging. The commentary also raises concerns for other freight companies heading into Q3 earnings season.
Old Dominion (ODFL 176.41, -4.55, -2.51%), FedEx Freight (FDXF 122.58, -4.36, -3.43%), and UPS (UPS 99.80, -2.55, -2.49%) are among the other notable freight names that trade lower, though broader strength in the industrials sector (+0.2%) keeps it modestly higher.
