Gilead (GILD) Shares Pop on Q2 Earnings and Revenue Beats

Gilead Sciences (GILD) just released its second-quarter financial results, posting non-GAAP diluted earnings of $2.56 and revenues of $7.14 billion.

Earnings Watch: In Face of EU Antitrust Probe, Daimler Earnings Rise 15%

Photo: David Cullen

Germany's Daimler AG (Ticker symbol DAI), parent of Daimler Trucks North America and Mercedes-Benz Vans USA, reported on July 26 a 15% jump in profit for the second quarter, largely on the strength of its global Mercedes-Benz luxury car business.

That performance was dimmed by recent news that Daimler is among the targets of a probe by the European Union into alleged collusion among automakers.

On July 22, per a report by The New York Times, European antitrust authorities stated they are investigating allegations that Volkswagen, Daimler and BMW colluded illegally to hold down the prices of crucial vehicle technology, including emissions equipment. The alleged acts of collusion began in the mid-1990s and continued until recently, according to a report by the German magazine Der Spiegel.

In addition, earlier this month Munich-based newspaper Sueddeutsche Zeitung reported that Germany's federal minister of transport Alexander Dobrindt is investigating whether the exhaust-gas treatment systems of certain diesel-powered cars and vans built by Daimler have been manipulated by illegal software that eliminates emission measurements taken during testing and on the road.

Back to Daimler's financials: The OEM reported that Q2 earnings before interest and taxes (EBIT) increased to 3.75 billion Euros ($4.4 billion) from 3.26 billion Euros ($3.8 billion) for the same period the year before.

The Mercedes-Benz Cars division posted a 70% leap in second-quarter EBIT, but in the meantime, profit dropped 13% for the Daimler Trucks business-- the company's second-biggest earnings contributor, according to Bloomberg— and it dropped 11% for its commercial van operation.

From April through June, Daimler sold 822,500 cars and commercial vehicles worldwide (+8%), marking another record for unit sales. The company said contributions to the Group's best-ever unit sales came from all automotive divisions, in particular the records set by Mercedes-Benz Cars (595,200 vehicles, +9%) and Mercedes-Benz Vans (103,400 ...Read the rest of this story

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Duke Energy Tackles Truck Idling at N.C. Distribution Facility

Photo via Duke Energy

Duke Energy will be heading a $320,000 project to install a total of 36 electric power outlets for heavy trucks at a distribution center for Merchants Distributors in Hickory, N.C.

Transport refrigeration units at MDI will be able to plug into the power outlets at the facility, allowing vehicles to keep cargo cold without having to run the engine. By running off of shore power, the electrification project will lower exhaust emissions at the facility as well as save money on diesel fuel. Shorepower Technologies will install the power outlets.

Construction is currently underway at the Hickory installation and the project should be operational by this fall. This is Duke Energy's second project in North Carolina using electricity to power trucks instead of idling engines. In May, the company announced a 24-unit project at Big Boy's Truck Stop in the Johnston County town of Kenly. IdleAir is handling that installation and it is expected to be operational in August.

The two electrification projects are part of a 2015 settlement with the U.S. Environmental Protection Agency and environmental groups stemming from a legal case against the company for alleged violations of the Federal Clean Air Act at some of the company's coal-fired power plants in North Carolina. The agreement required the company to spend $4.4 million on environmental projects and donations.

Duke Energy is an electric power holding company serving 7.3 million electric customers in six states in the Southeast and Midwest.

“Most trucks can use electricity to keep cargo cold when not driving,” said Melisa Johns, Duke Energy's vice president, business development. “This project will make that technology available to trucks at MDI's facility – providing cost savings and an environmental benefit to the local community.”

EPA has found that long-duration truck idling results in over 1 billion gallons of wasted ...Read the rest of this story

Truckload Rates Remain Strong Amid Slight Demand Downturn

Among the bright spots mentioned in DAT Solutions' Truckload Rate report are a boost in activity and rates out of the Midwest. Photo: Truckinginfo.com

Truckload rates are staying strong despite a slight fall-off in demand. That's according to a report issued by DAT Solutions, which operates the DAT national network of load boards.

According to the report, the number of available loads on the spot truckload market slipped just 3% during the week ending July 22, better than expected for the middle of July.

Nationally, the overall number of truck posts was up 2% compared to the previous week as demand for capacity stayed solid and prices remained high. Load-to-truck ratios for all three major freight segments fell 5%: the load/truck ratio for vans was 4.8; flatbeds 36.1; and reefers 8.5. Spot van load posts declined 1% and the number of posted trucks increased 2%.

The national average van rate fell 2 cents to $1.81/mile as most major markets saw lower pricing. Los Angeles ($2.18/mile, down 5 cents), Chicago ($2.07/mile, down 2 cents), Houston ($1.80/mile, down 5 cents), and Atlanta ($2.12/mile, down 7 cents) all reflected lower spot truckload prices for outbound van freight. The spot reefer market mirrored vans, as load posts decreased 6% while truck posts were up 11%.

There were some bright spots, including a boost in activity and rates out of the Midwest where fruit and vegetable harvests are coming in. The national average spot reefer rate fell 3 cents to $2.09/mile. Flatbed load posts declined 1% last week while truck posts increased 4%. At $2.18/mile, the national average flatbed rate was 2 cents lower compared to the previous week.

Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. All reported rates include fuel surcharges.

Follow ...Read the rest of this story