Transport Topics
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Fuel-card provider Wex Inc. announced that it plans to help fleets better manage purchases by combining its fuel data with telematics data from electronic logging devices.
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Union Pacific Corp. reported first-quarter earnings higher than analysts' expectations as the railroad cut costs and boosted prices to mitigate a steep drop in cargo demand, pushing shares to their highest value in five months.
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Expedited carrier Forward Air Corp. and refrigerated fleet Marten Transport Ltd. reported higher earnings as the parade of first-quarter truckload results continues, but Swift Transportation Co. net income dipped amid continuing pressure in the dry van freight market.
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Norfolk Southern Corp. reported the best year-over-year improvement in first-quarter rail industry earnings, boosting net income 25% to $387 million, or $1.29 per share, helped by expense reductions and improved results for commodity groups, particularly automotive shipments.
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