reports
Swift Transportation Stockholders Approve Proposed Merger With Knight ...
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (NYSE: SWFT) (“Swift”) today announced that its stockholders approved its merger with Knight Transportation, Inc. (NYSE: KNX) (“Knight”) at a special meeting of Swift stockholders held earlier today. Swift stockholders approved all proposals put forward at the special meeting. As previously announced, on April 9, 2017, Swift and Knight entered into a merger agreement (the “Merger Agreement”), pursuant to which they agreed to a combination transaction after which their re...
Swift Transportation Partners with Payless ShoeSource for Footwear Sol...
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (NYSE:SWFT), the nation’s leading full truckload carrier, announces its partnership with safeTstep™, a brand of Payless ShoeSource®. Through this partnership, Swift employees will receive discounts to purchase safeTstep’s industry-leading, slip-resistant footwear at more than 3,000 Payless retail stores or www.payless.com. In addition, employees will receive a similar discount for Payless’ Dexter Work footwear line. “I am amazed at the comfort of these shoes and t...
Swift Transportation Company Announces Financial Results for Second Qu...
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (NYSE:SWFT) today reported revenue of $1.0 billion, diluted EPS of $0.20 and adjusted EPS of $0.25 for the quarter ended June 30, 2017 as filed with the SEC on Form 10-Q. Adjusted EPS is a non-GAAP financial measure, which should not be considered as an alternative, or superior, to the GAAP financial measure, diluted EPS. However, management believes that presentation of this non-GAAP financial measure provides useful information to investors regarding the company's resu...
Swift Transportation Company Announces Timing and Format for Second Qu...
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (NYSE:SWFT) (Swift), a leader in transportation solutions and the nation's largest truckload transportation provider, will release its earnings for the second quarter ended June 30, 2017 after market close on Monday, July 24, 2017 by filing its Form 10-Q with the SEC. The 10-Q will be available on the company’s website at http://investor.swifttrans.com/sec-filings, as well on the SEC website. Due to the anticipated merger with Knight Transportation, Inc. (NYSE:KNX...
INVESTOR ALERT: Levi & Korsinsky, LLP Remind Investors of an Investiga...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Swift Transportation Company (NYSE:SWFT) stock prior to April 10, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Swift Transportation Company to Knight Transportation, Inc. (NYSE:KNX). Under the terms of the transaction, Swift shares will convert into 0.72 shares of the post-merger entity, Knight-Swift ...
INVESTOR ALERT: Brower Piven Commences An Investigation Into The Propo...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Swift Transportation Company (NYSE:SWFT) (“Swift” or the “Company”) relating to the proposed buyout of Swift by Knight Transportation, Inc. Under the terms of the agreement, Swift shares will convert into 0.72 shares of the post-merger entity, Knight-Swift Transportation Company, ...
- Matthew Young
Swift Continues to Navigate a Lackluster Full-Truckload Landscape in I...
Swift’s first-quarter revenue before fuel surcharges contracted 4.0% year over year and was below our expected run rate on continued pricing pressure in the for-hire truckload operations stemming from excess industry capacity, as well as from a larger-than- expected drop in fleet size. Intermodal revenue also came in below our forecast, likely because of ongoing pressure on truck-to-rail conversion linked to elevated competition from over-the-road trucking. Total profitability came in shy of o...
- Matthew Young
More balanced capacity should create a tailwind for Swift and its truc...
Full-Truckload shipping specialists Knight Transportation and Swift Transportation intend to merge in an all-stock deal. Both operations will continue to operate separately after the merger closes (likely in the third quarter). As part of the deal, Swift’s shares will convert into 0.72 shares of the new Knight-Swift company (via a reverse stock split), while Knight’s shares will exchange one for one. Thus, following the transaction, Swift shareholders will own 54% of Knight-Swift and Knight ...
Swift Transportation Company Announces Results for First Quarter 2017
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (NYSE:SWFT), a leader in transportation solutions and the nation's largest truckload provider, has issued its first quarter ended March 31, 2017, Letter to Stockholders. This letter is currently available on Swift's investor relations website: http://investor.swifttrans.com/ and will be filed with the SEC on a form 8-K. We invite you to submit questions regarding the periods' performance to [email protected]. Questions will be accepted until 7:00 p.m. EDT today ...
Bragar Eagel & Squire, P.C. Is Investigating the Board of Directors of...
NEW YORK--(BUSINESS WIRE)-- Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Swift Transportation Company (NYSE:SWFT) stockholders concerning the proposed acquisition of the company by Knight Transportation, Inc. (NYSE:KNX). The investigation concerns whether Swift’s board of directors failed to adequately shop the company and obtain the best possible value for Swift stockholders before entering into a definitive merger agreement with Knight Transportation. Under the terms of the agreement, Swift ...
SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Pr...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Swift Transportation Company (NYSE: SWFT) (“Swift” or the “Company”) relating to the proposed buyout of Swift by Knight Transportation, Inc. Under the terms of the agreement, Swift shares will convert into 0.72 shares of the post-merger entity, Knight-Swift Transportation Company, ...
SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of S...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Swift Transportation Company (NYSE: SWFT)? Did you purchase any of your shares prior to April 10, 2017? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Swift Transportation Company (“Swift” or the “Company”) (NYSE: SWFT) ...
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces an Investigation in...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Swift Transportation Company (NYSE: SWFT) stock prior to April 10, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Swift Transportation Company to Knight Transportation, Inc. (NYSE:KNX). Under the terms of the transaction, Swift shares will convert into 0.72 shares of the post-merger entity, Knight-Swift ...
Robbins Arroyo LLP: Acquisition of Swift Transportation Company (SWFT)...
SAN DIEGO & PHOENIX--(BUSINESS WIRE)-- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of Swift Transportation Company (NYSE: SWFT) by Knight Transportation, Inc. (NYSE: KNX). On April 10, 2017, the two companies announced the signing of a definitive merger agreement pursuant to which Knight will acquire Swift. Under the terms of the agreement, Swift shareholders will receive 0.72 shares of the combined company for each share of Swift common stock, the equivalent value of which is $22.07 b...
Swift Transportation Company Announces Timing of First Quarter 2017 Ea...
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (NYSE:SWFT) will release its earnings for the first quarter ended March 31, 2017, after market close on Monday, April 24, 2017, in the form of a letter to stockholders. The letter will be published on the company’s website at http://investor.swifttrans.com/ as well as filed with the SEC on a form 8-K. Following the distribution of the letter to stockholders, we invite questions regarding the periods’ performance be submitted to [email protected]. Question...
SWIFT TRANSPORTATION COMPANY SHAREHOLDER ALERT: Former SEC Attorney Wi...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Swift Transportation Company (“Swift”) (NYSE: SWFT) concerning the merger with Knight Transportation, Inc. (NYSE: KNX). Under the terms of the agreement, Swift shareholders will receive a reverse stock split, converting each Swift share into 0.72 shares of KNX. The consideration is valued at $22.07 per share, which is virtually no premium over the 52-week high and...
- Matthew Young
Firming capacity should provide a tailwind for Swift and its truckload...
Full-Truckload shipping specialists Knight Transportation and Swift Transportation intend to merge in an all-stock deal. Both operations will continue to operate separately after the merger closes (likely in the third quarter). As part of the deal, Swift’s shares will convert into 0.72 shares of the new Knight-Swift company (via a reverse stock split), while Knight’s shares will exchange one for one. Thus, following the transaction, Swift shareholders will own 54% of Knight-Swift and Knight ...
- Matthew Young
Truckload-Industry Leaders Knight and Swift to Merge; A Positive for B...
Full-Truckload shipping specialists Knight Transportation and Swift Transportation intend to merge in an all-stock deal. Both operations will continue to operate separately after the merger closes (likely in the third quarter). As part of the deal, Swift’s shares will convert into 0.72 shares of the new Knight-Swift company (via a reverse stock split), while Knight’s shares will exchange one for one. Thus, following the transaction, Swift shareholders will own 54% of Knight-Swift and Knight ...
SWIFT TRANSPORTATION COMPANY SHAREHOLDER ALERT: Rigrodsky & Long, P.A....
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Swift Transportation Company (NYSE: SWFT)? Did you purchase any of your shares prior to April 10, 2017? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Swift Transportation Company (“Swift” or the “Company”) (NYSE: SWFT) ...
Swift Transportation Announces Anticipated Range for First Quarter 201...
PHOENIX--(BUSINESS WIRE)-- Swift Transportation Company (“Swift”) (NYSE:SWFT) announces that it expects Diluted Earnings Per Share (“Diluted EPS”) to be between $0.09 - $0.10 and Adjusted EPS (“Adjusted EPS”) to be within the range of $0.11 to $0.12 for the first quarter of 2017. Adjusted EPS represents Diluted Earnings Per Share adjusted to add-back intangible amortization, which reflects an approximately $0.02 per share impact. Freight volumes in the first quarter did not materialize to the extent anticipated. In addition, ...
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