RXO stock surged early Monday after announcing Sunday it would purchase UPS's Coyote Logistics, the company's freight-brokerage business, for slightly more than $1 billion. The deal comes just days before rival FedEx closes the door on fiscal 2024 with fourth-quarter earnings. Package delivery giant UPS said Sunday the deal is worth $1.025 billion, which comes in below the $1.8 billion UPS paid for Coyote Logistics in 2015.
PCE inflation reading expected to show cooling trend, auto dealers grapple with CDK’s cyberattack fallout, more news to start your day.
The Fed’s inflation measure is expected to be up 2.6% in a year. Earnings from Nike, Carnival, Micron, FedEx, and Walgreens.