U.S. trucking stocks fall after Amazon launches LTL freight offering
Wed 13:37
BUZZ-U.S. trucking stocks fall after Amazon launches LTL freight offering ** Shares of U.S. trucking companies down after Amazon AMZN.O launches less-than-truckload (LTL) freight offering for all businesses
** Fedex Corp FDX.N and United Parcel Service UPS.N shares down ~2%
** Shares of Old Dominion ODFL.O fall 6.4%, J.B. Hunt JBHT.O slip 3% and Knight-Swift Transportation KNX.N slide 4.2% respectively
** Amazon Freight Director Jim Ruiz said that the company's LTL service gives shippers a cost-effective freight shipping option while still offering the real-time tracking and reliability customers expect from Amazon
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))
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