Stock Alert: TFI International Hits New 52-week High On UPS Freight Acquisition

CIT Group Inc. Q4 adjusted earnings Beat Estimates

Below are the earnings highlights for CIT Group Inc. (CIT):

-Earnings: -$4 million in Q4 vs. $121 million in the same period last year.
-EPS: -$0.04 in Q4 vs. $1.27 in the same period last year.
-Excluding items, CIT Group Inc. reported adjusted earnings of $148 million or $1.50 per share for the period.
-Analysts projected $0.57 per share
-Revenue: $496 million in Q4 vs. $461 million in the same period last year.

US Reimposes Covid-19 Travel Restrictions From Europe, Brazil

In an action to reduce the spread of COVID-19 through travel, President Joe Biden signed a presidential proclamation imposing air travel restrictions on incoming non-US travelers to the United States from 26 European countries in the Schengen Zone, the UK, Ireland and Brazil.

In the light of the more contagious new variant of the coronavirus, South Africa also has been added to the restricted list.

Additionally, beginning Tuesday, all travelers who fly in to the United States will be required to show a negative coronavirus test within three days before their U.S.-bound flight.

The White House said Biden took the decision on advice of his administration’s medical and COVID team. “With the pandemic worsening and more contagious variants spreading, this isn’t the time to be lifting restrictions on international travel,” White House Press Secretary Jen Psaki said.

Issuing an executive order lifting travel restrictions for much of Europe and Brazil, imposed in March last year to restrict coronavirus-infection from abroad, was one of his last actions Donald Trump took as U.S. President.

Trump had ordered on January 18 that the restrictions would become ineffective on January 26.

Psaki said on Monday that the White House press office will begin public health briefings on Wednesday, and that it “will be done regularly for the foreseeable future.”

Stock Alert: Polaris Hits New 52-week High On Upbeat Q4 Results, Outlook

Shares of Polaris Inc. (PII), a manufacturer of power sports vehicles including off-road vehicles, are climbing almost 5 percent or $5.94 in Tuesday’s morning trade at $125.44. The company’s shares hit a new 52-week high of $127.92 as its fourth-quarter results beat analysts’ expectations and it provided financial outlook for fiscal 2021 above estimates.

Tuesday, Polaris reported fourth-quarter net income of $198.8 million or $3.15 per share, up sharply from $99.0 million or $1.58 per share in the year-ago period. Adjusted earnings were $3.34 per share, compared to $1.83 per share in the year-ago quarter. Sales for the quarter grew 24 to $ 2.16 billion from $1.74 billion last year.
On average, analysts polled by Thomson Reuters had a consensus estimate for earnings of $2.90 per share for the quarter on revenues of $2.11 billion.

For fiscal 2021, Polaris now projects adjusted earnings in a range of $8.45 to $8.75 per share on sales between $7.95 billion and $8.15 billion. The Street expects the company to report earnings of $7.80 per share on revenues of $7.40 billion for the year.

Polaris has traded in a range of $37.35 to $127.92 in the past 52 weeks.

Stock Alert: TFI International Hits New 52-week High On UPS Freight Acquisition

Shares of TFI International Inc. (TFII, TFII.TO), a Canada-based provider of transportation and logistics services, are climbing more than 12 percent or $8.13 in Tuesday’s morning trade at $75.61, after hitting a new 52-week high of $77.72.

Monday, TFI International said it has agreed to acquire UPS Freight, the less-than-truckload (LTL) and dedicated truckload (TL) divisions of United Parcel Service, Inc. (UPS), for $800 million on a cash-free, debt-free basis before working capital and other adjustments. The transaction is expected to close in the second quarter of 2021.

TFI International noted that about 90 percent of the acquired business will operate independently within TFI International’s LTL business segment under its new name, “TForce Freight”, while the acquired dedicated TL assets will join TFI’s TL business segment.

TFI International has traded in a range of $15.24 to $77.72 in the past 52 weeks.

MyPillow CEO Mike Lindell Mercilessly Mocked Over Twitter Ban

People on Twitter did nothing to cushion the blow for MyPillow CEO Mike Lindell following his permanent suspension from the social media platform for spreading election conspiracy lies.

Lindell, a staunch ally of Donald Trump who continues falsely claiming the former president won the 2020 election, was booted from Twitter late Monday for “repeated violations” of the company’s civic integrity policy. Trump was banned earlier this month for inciting violence.

The bedtime-themed puns flowed in response to Lindell’s ouster:

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Biden stimulus plan could boost U.S. output by 5% over three years: IMF

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WASHINGTON (Reuters) – Preliminary estimates show U.S. President Joe Biden’s proposed $1.9 trillion economic stimulus package could boost U.S. economic output by 5% over the next three years, the chief ecnomist of the International Monetary Fund said Monday.

Gita Gopinath told a news conference the measures in the proposed package could add as much as 1.5% to U.S. growth in 2021, when the IMF projects the U.S. economy will expand by 5.1% after a 3.4% contraction in 2020.

Stock Alert: TFI International Hits New 52-week High On UPS Freight Acquisition

Shares of TFI International Inc. (TFII, TFII.TO), a Canada-based provider of transportation and logistics services, are climbing more than 12 percent or $8.13 in Tuesday’s morning trade at $75.61, after hitting a new 52-week high of $77.72.

Monday, TFI International said it has agreed to acquire UPS Freight, the less-than-truckload (LTL) and dedicated truckload (TL) divisions of United Parcel Service, Inc. (UPS), for $800 million on a cash-free, debt-free basis before working capital and other adjustments. The transaction is expected to close in the second quarter of 2021.

TFI International noted that about 90 percent of the acquired business will operate independently within TFI International’s LTL business segment under its new name, “TForce Freight”, while the acquired dedicated TL assets will join TFI’s TL business segment.

TFI International has traded in a range of $15.24 to $77.72 in the past 52 weeks.