Nick's Feed
Feb 6, 2015

Driver shortage makes capitalizing on low oil hard for truckers

CHICAGO, Feb 6 (Reuters) – A chronic shortage of drivers
means America’s long-haul trucking companies are struggling to
capitalize on cheap fuel prices that could allow them to take
goods shipments away from railroads.

A 50 percent fall in oil prices from their peak last year
should have erased some of the cost advantage railroads enjoy,
especially for longer hauls.

Feb 4, 2015

Whirlpool could take $1 bln revenue hit from strong dollar -CEO

CHICAGO, Feb 4 (Reuters) – If the U.S. dollar stays at
current levels, Whirlpool Corp’s revenue could take a
hit of up $1 billion in 2015, but the world’s largest appliance
maker expects to protect its profits, Chief Executive Officer
Jeff Fettig told Reuters on Wednesday.

Raising prices in some foreign markets should offset some of
the effects of the strong dollar, which reduces the value of
goods sold overseas, he said.

Feb 4, 2015

Whirlpool expects robust U.S. growth, but dollar to drag

CHICAGO, Feb 4 (Reuters) – Whirlpool Corp on
Wednesday said 2015 would be another solid year for U.S. sales
of its washers, stoves and refrigerators because of the housing
market’s recovery and low oil prices, and its shares rose 6

The world’s largest maker of home appliances said
fourth-quarter earnings fell due to costs from recent
acquisitions, but the results beat analysts’ expectations. Sales
in North America, its largest market, rose 6 percent.

Feb 3, 2015

UPS warns e-commerce volume hard to forecast, to add surcharge

Feb 3 (Reuters) – United Parcel Service Inc on
Tuesday reported a disappointing peak holiday season and warned
that U.S. online shopping habits are hard to predict and getting
it wrong will slice into profits.

“It (forecasting E-commerce) is both hard for our customers
and for us,” Chief Financial Officer Kurt Kuehn told Reuters on
Tuesday after UPS reported that fourth-quarter profit fell but
forecast earnings within the range of estimates.

Jan 27, 2015

US Steel profit down, warns of strong dollar, low oil in ’15

CHICAGO, Jan 27 (Reuters) – U.S. Steel Corp on Tuesday
warned that low oil prices and the strong U.S. dollar could
negatively impact its business in 2015 but said the potential
for U.S. higher consumer spending could help lift demand.

The Pittsburgh-based company gave its assessment of what it
called a “volatile market” in 2015 as it reported a lower fourth
quarter net profit that was hurt by falling steel prices and the
strong U.S. dollar. But the company’s earnings came in well
above market expectations and sent its stock up nearly 9 percent
in aftermarket trading.

Jan 27, 2015

Caterpillar warns low oil will hurt ’15; Q4 earnings miss

CHICAGO, Jan 27 (Reuters) – Caterpillar Inc on
Tuesday warned the recent fall in oil prices would hurt its
energy equipment business in 2015 and gave an outlook for the
year below market expectations after posting a disappointing
fourth quarter net profit.

The report sent the company’s shares down nearly 8 percent
in premarket trading.

Jan 26, 2015

Lower coal revs hit Norfolk Southern profit; upbeat on U.S. economy

CHICAGO, Jan 26 (Reuters) – Norfolk Southern Corp,
the No. 4 U.S. railroad, expects a solid U.S. economy to boost
its business in 2015 but said on Monday it was too early to
gauge the overall impact of lower energy prices.

“We feel good about the state of the economy,” Chief
Executive Officer Wick Moorman told Reuters after the company
reported fourth-quarter earning that largely met market
expectations. “But what many people are trying to understand is
the impact of lower oil prices.”

Jan 23, 2015

After disappointing 4th qtr, UPS evaluating peak pricing

CHICAGO, Jan 23 (Reuters) – Package delivery company United
Parcel Service Inc on Friday said its fourth-quarter
performance was hurt by higher-than-expected costs from the U.S.
holiday season and that it will likely raise prices during the
next peak season.

The world’s largest package delivery company said as a
result, its fourth-quarter earnings per share would come in
below its own forecast as well as market expectations. UPS cited
a disappointing performance in U.S. domestic ground shipments.

Jan 22, 2015

Union Pacific profit beats estimates as freight, revenue grow

CHICAGO, Jan 22 (Reuters) – No. 1 U.S. railroad Union
Pacific Corp reported a jump in quarterly profit
Thursday that beat analyst estimates as a growing economy lifted
freight volumes and higher freight rates boosted revenue.

Shares of the company were up 4 percent in light premarket

Still, the company sounded a note of caution on the outlook
for the U.S. economy amid uncertainties following a significant
drop in oil prices over the past several months.

Jan 14, 2015

Low oil prices good for economy, CSX and its customers: CEO

CHICAGO (Reuters) – Falling oil prices should benefit U.S. consumers and railroad customers, and be good for rail business in the months ahead, the chief executive of No. 3 U.S. railroad CSX Corp (CSX.N: Quote, Profile, Research) said on Wednesday.

“By and large, this (lower oil prices) is a good thing for the economy, for CSX and for our customers,” Michael Ward told Reuters in an interview. “It will put more money in consumers’ pockets and we will pass on less in fuel surcharges to our customers, which will put more money in theirs.”

    • About Nick

      "Nick Carey is a Chicago-based, British-born journalist who has covered everything from the near-collapse of the Big Three automakers to the U.S. housing crisis. Nick is currently on general assignment, reporting on the human impact of the recession. He previously spent ten years working in central and eastern Europe."
    • More from Nick

    • Follow Nick