RXO News & Events

RXO released the latest update to its proprietary Curve truckload market forecast, which shows rapidly rising truckload spot rates, excluding the impacts of fuel. In first quarter, spot rates, as measured by the Curve, rose 16.5% year-over-year, the highest reading since the third quarter of 2021. This was also an acceleration from the fourth quarter of 2025, in which rates rose by 5.2%. Through May 15, the Curve is on pace to finish the second quarter at an even higher mark than the first quarter. The surge in rates is the result of continued attrition of carrier capacity, driven by federal regulation enforcement, which has led to a supply imbalance relative to demand. "We've been in a year-over-year inflationary market for several quarters due to declining carrier capacity, but that hadn't driven a substantial increase in rates until recently," said Corey Klujsza, vice president of pricing and procurement at RXO. "The first quarter saw a significant spike in truckload rates, and that trend has continued into the first half of the second quarter. During CVSA Roadcheck last week, which further constrained capacity, truckload rates outperformed seasonality and hit levels we haven't seen since 2022."

RXO now expects May truckload gross profit per load to outperform typical seasonality and be at least flat to the company's April result. On the company's first-quarter earnings conference call on May 7, RXO outlined that it expected truckload gross profit per load to decline in May. "Last week, market conditions tightened even further, exacerbated by CVSA International Roadcheck. RXO stayed close to our customers and won significant spot opportunities, helping to more than offset the squeeze on our contractual book of business," said Jared Weisfeld, CSO. Spot increased as a percentage of the company's Brokerage truckload volume in the first two weeks of May when compared to April. In addition, RXO announced that its April full-truckload volume outperformed relative to the market. RXO's truckload volume declined by approximately 2% year-over-year in April, a significant improvement relative to the first quarter, and a more than 200-basis-point outperformance when compared to the Cass Freight Index, which declined by more than 4% year-over-year in April.

The major averages closed broadly lower, giving back some of yesterday's gains as tech stocks lagged, U.S. Treasury yields rose, and oil prices jumped once again. A meeting between President Donald Trump and Chinese President Xi Jinping has ended, with investors concerned that the summit resulted in no major policy breakthroughs.Brent crude pushed above $104 a barrel as the Iran conflict and ongoing Strait of Hormuz disruptions continue pressuring global energy supplies. Rising oil prices are now feeding into inflation expectations, transportation costs, and consumer spending concerns as markets increasingly fear a stagflationary setup.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Applied Materialsreportedand raised its 2026 equipment growth estimateFigmaprovided areport for Q1Gemini Space Stationannounced that Winklevoss Capital Fund made aBlackstoneand CD&R are both in the early stages of exploring bids for Magnum Ice Cream,MasterCardand JD.com2. WALL STREET CALLS:Arista Networksto Outperform at Raymond JamesRBCTexas Roadhouseon better beef prices, traffic growthCiscoto Buy at HSBC on stronger AI infrastructure momentumViking Holdingsto Equal Weight at Morgan StanleyFermito In Line at Evercore ISI3. AROUND THE WEB:BPplans to wind down much of its pipeline gas trading team, eliminating about 20 roles and integrating the remaining staff into its expanding LNG trading business. Reuters reportsFinal bids are in for Estee Lauderbrands Too Faced, Smashbox, and Dr. Jart, and the process could be completed in a matter of weeks, WWD reportsAs Metaprepares to lay off about 10% of its staff on May 20 as part of ongoing efficiency efforts and investment rebalancing, adding to prior rounds of layoffs, sources say morale is low, Wired reportsGoogleis planning to announce a new Gemini model at it's I/O conference, with the release expected to land around the class of OpenAI's GPT-5.5 and short of Anthropic's Mythos, Sources reportsStarbucksis undertaking another round of corporate restructuring, including about 300 U.S. job cuts and a review of its international corporate workforce, CNBC says4. MOVERS:Globantrises afterRXOhigher after Stifelthe stock to BuyDexComgains after announcing aYork Space Systemslower afterand provided guidance for FY26DLocaland ARS Pharmaceuticalsfalls after5. EARNINGS/GUIDANCE:Datavault, with EPS and revenue higher year-over-yearRBC Bearingsand provided guidance for Q1Enveric Biosciences, with CEO Joseph Tucker commenting "Our progress in the first quarter of 2026 reflects continued execution against our core mission"aTyr Pharma, with CEO Sanjay Shukla commenting, "2026 is off to a productive start"Mako Mining, with EPS and revenue higher year-over-yearINDEXES:The Dow fell 537.29, or 1.07%, to 49,526.17, the Nasdaq lost 410.08, or 1.54%, to 26,225.15, and the S&P 500 declined 92.74, or 1.24%, to 7,408.50.

The major averages were broadly lower near noon, giving back some of yesterday's gains as tech stocks lag, U.S. Treasury yields rise, and oil prices jump once again. A meeting between President Donald Trump and Chinese President Xi Jinping has ended, with investors concerned that the summit resulted in no major policy breakthroughs.Brent crude has pushed above $104 a barrel as the Iran conflict and ongoing Strait of Hormuz disruptions continue pressuring global energy supplies. Rising oil prices are now feeding into inflation expectations, transportation costs, and consumer spending concerns. Markets increasingly fear a stagflationary setup where inflation stays elevated even as economic growth slows.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Applied Materialsreportedand raised its 2026 equipment growth estimateFigmaprovided areport for Q1Gemini Space Stationannounced that Winklevoss Capital Fund made ainto the companyBlackstoneand CD&R are both in the early stages of exploring bids for Magnum Ice Cream,United States Antimonyreported2. WALL STREET CALLS:Arista Networksto Outperform at Raymond JamesRBCTexas Roadhouseon better beef prices, traffic growthCiscoto Buy at HSBC on stronger AI infrastructure momentumViking Holdingsto Equal Weight at Morgan StanleyFermito In Line at Evercore ISI3. AROUND THE WEB:As Metaprepares to lay off about 10% of its staff on May 20 as part of ongoing efficiency efforts and investment rebalancing, adding to prior rounds of layoffs, sources say morale is low, Wired reportsMore than 50 researchers and engineers have left xAI since the SpaceX acquisition via layoffs, firings, and voluntary departures, with many joining Meta and TML, The Information saysGoogleis planning to announce a new Gemini model at it's I/O conference, with the release expected to land around the class of OpenAI's GPT-5.5 and short of Anthropic's Mythos, Sources reportsStarbucksis undertaking another round of corporate restructuring, including about 300 U.S. job cuts and a review of its international corporate workforce, CNBC saysMicrosoftis rolling back internal use of Claude Code after strong adoption among developers, and plans to replace most licenses with GitHub Copilot CLI as part of a broader push to consolidate engineering workflows, Verge reports4. MOVERS:Globantrises afterRXOhigher after Stifelthe stock to BuyDexComgains after announcing aYork Space Systemslower afterand provided guidance for FY26DLocaland ARS Pharmaceuticalsfalls after5. EARNINGS/GUIDANCE:Datavault, with EPS and revenue higher year-over-yearRBC Bearingsand provided guidance for Q1Enveric Biosciences, with CEO Joseph Tucker commenting "Our progress in the first quarter of 2026 reflects continued execution against our core mission"aTyr Pharma, with CEO Sanjay Shukla commenting, "2026 is off to a productive start"Mako Mining, with EPS and revenue higher year-over-yearINDEXES:Near midday, the Dow was down 1.03%, or 515.34, to 49,548.12, the Nasdaq was down 1.34%, or 356.79, to 26,278.44, and the S&P 500 was down 1.05%, or 79.13, to 7,422.11.