Price: $263.21, Change: $-7.44, Percent Change: -2.75%
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Knight-Swift to Benefit From Tighter Trucking Supply, Stronger Pricing, UBS Says
Knight-Swift Transportation (KNX) could benefit from tighter trucking supply, higher freight rates, stricter broker checks, and stronger pricing over the next two years, UBS Securities said in a note Monday.A recent Supreme Court ruling in the Montgomery case could increase broker liability in accident claims and drive insurance costs significantly higher, the brokerage said.UBS said smaller brokers may exit the market, while shippers and brokers could adopt stricter safety-based carrier screening, reducing reliance on smaller or lower-rated carriers. These changes could favor large asset-based truckload carriers such as Knight-Swift, which may gain market share and secure higher rates.The investment firm raised its 2026 truckload spot rate forecast to 26% growth from 21% and now expects Knight-Swift's realized pricing to rise 23% in 2027 versus 2025.UBS kept its buy rating on Knight-Swift and lifted its price target to $94 from $79, saying the stock remains its preferred way to benefit from rising truckload rates and raising its 2027 earnings estimate to $4.70 per share from $4.15.Price: $77.27, Change: $+1.64, Percent Change: +2.17%
$KNX
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Update: MGM Resorts Shares Rise After $48.30 per Share Acquisition Offer From People Inc.
(Updates with latest stock price movement in the headline and first paragraph, and MGM Resorts' confirmation in the first two paragraphs.)MGM Resorts International (MGM) shares were up 14.3% in Monday trading after the company confirmed that it received an offer from People Inc. to acquire all outstanding MGM shares that it does not already own for $48.30 per share in cash.MGM said its board, along with financial and legal advisors, will review the proposal and that there is no assurance that an agreement would be reached.People Inc. said earlier Monday it submitted a non-binding proposal to acquire all outstanding MGM Resorts shares it doesn't already own for $48.30 per share, representing a 24.1% premium to the volume-weighted average price of MGM common stock for the 30 trading days ended May 29.Price: $49.93, Change: $+6.26, Percent Change: +14.32%
$MGM
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Orla Reports Work Stoppage at Camino Rojo Mine Over Labor Disputes
Orla Mining (ORLA) said Monday an "illegal" work stoppage and blockade by its unionized workers is underway at the Camino Rojo Mine in Zacatecas, Mexico."Operations at the mine have been temporarily halted," the firm said, adding that the stoppage has not followed the procedures under Mexican law, including the filing of a strike notice.The stoppage and blockade stemmed from disputes over bonus and profit-sharing payments, Orla said, adding that it is in talks with the union and authorities, with a meeting set for June 2.The company said it will provide an update after assessing any potential impact on its full-year production guidance.Shares were down more than 7% in midday trading.Price: $12.40, Change: $-1.02, Percent Change: -7.57%
$ORLA