Saia, Inc., together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2022, it operated 191 owned and leased facilities; and owned approximately 6,200 tractors and 20,800 trailers. The company was formerly known as SCS Transportation, Inc. and changed its name to Saia, Inc. in July 2006. Saia, Inc. was founded in 1924 and is headquartered in Johns Creek, Georgia.

Saia, Inc.

Key Points
- GAAP EPS of $2.67 surpassed analyst expectations by 11.7% in Q2 2025, EPS exceeded analyst expectations by 12%, but declined 30.2% from the prior year.
- GAAP revenue was $817.1 million, edging out consensus estimates but slipped 0.7% from the prior year.
- The operating ratio rose to 87.8%, reflecting persistent margin pressures as network expansion investments have yet to deliver full profitability.
Saia (NASDAQ:SAIA), a major U.S. less-than-truckload (LTL) transportation provider, reported its second quarter results on July 25, 2025. The headline: GAAP revenue and earnings topped Wall Street expectations, but profitability remained under pressure as costs outpaced revenue growth. For the quarter, Saia posted EPS of $2.67, above the $2.39 GAAP analyst consensus, and GAAP revenue of $817.1 million, outpacing GAAP estimates by $9.5 million. However, both figures declined from the same period last year, with GAAP EPS down 30.2% year-over-year and revenue down 0.7% year-over-year. Margins faced a noticeable squeeze, shaped by wage inflation and the ongoing challenge of absorbing new terminal costs. Overall, while the GAAP revenue beat and disciplined capital spending were positives, execution risk remains elevated in the near term as network expansion continues to dilute profitability.
Metric
Q2 2025
Q2 2025 Estimate
Q2 2024
Y/Y Change
EPS (GAAP)
$2.67
$2.39
$3.83
(30.2%)
Revenue
$817.1 million
$807.61 million
$823.2 million
(0.7%)
Operating Income
$99.4 million
$137.6 million
(27.8%)
Operating Ratio
87.8%
83.3%
4.5 pp
Net Income
$71.4 million
$102.5 million
(30.3%)
What Saia Does and How It Competes
Saia operates a nationwide less-than-truckload (LTL) freight network, moving shipments that are too large for parcel carriers but too small for full truckloads. The company has prioritized service quality, investing heavily in technology and training to minimize claims and increase on-time performance.
In recent years, Saia's focus has been on expanding its geographic footprint, especially through the acquisition of freight terminals from competitors and organic openings in new markets. Key success factors include predictable on-time deliveries, maintaining a competitive claims ratio, and managing operational costs as the network grows. Building shipment density—more shipments per route—remains central to Saia’s efforts to boost profitability as it brings new terminals up to speed.
Quarter in Review: Network Growth Meets Profitability Challenges
The quarter reflected a balancing act between long-term investment and short-term margin pressure. GAAP revenue came in just above the analyst consensus, outperforming by $9.5 million, but decreased 0.7% year-over-year. The modest topline contraction was countered by a more pronounced decline in profits, as operating income (GAAP) fell to $99.4 million from $137.6 million a year earlier—a drop of 27.8%.
This performance was driven largely by cost increases and changes in shipment mix. Salaries, wages, and benefits rose 5.0% to $390,975,000 year-over-year, primarily due to headcount growth from opening new facilities and a wage increase. Depreciation expense increased by 20.9% year-over-year, reflecting recent investments in real estate and equipment. Conversely, purchased transportation expenses dropped 5.4% year-over-year.
Network expansion continues to shape results. Terminals opened within the past three years led growth in shipping volume and revenue but have not yet reached the profit levels of legacy markets. Tonnage per workday increased 1.1%, while overall shipment counts fell 2.8%. Notably, the average weight per shipment rose—up 4.0% to 1,394 pounds—while revenue per shipment, excluding fuel surcharges, increased 2.7% to $298.71. The operating ratio—a key measure of efficiency in trucking, with lower numbers preferred—jumped to 87.8%. This reflects higher costs relative to revenue, partly due to underutilization of new terminals and weaker shipping trends at older, established locations.
Management kept the spotlight on service performance, reporting a claims ratio of 0.5%, signifying improvements in minimizing cargo damage or loss. Technology and process investments aimed at improving network efficiency are ongoing. Capital expenditures for the first half of the year totaled $375.6 million. Most of the new equipment is now in service, with remaining cuts in outlays aimed at real estate projects.
There were no dividend changes or trends to note during this period.
Looking Ahead: Guidance and Key Trends to Watch
Management did not issue formal revenue or earnings guidance for the second half of fiscal 2025. Instead, executive commentary emphasized a cautious outlook, with ongoing cost-control efforts and a continued focus on customer service as key priorities. The only quantitative guidance provided was for capital spending, expected to reach $600 million to $650 million for the full year 2025.
Going forward, investors should monitor how the company manages its cost structure as shipment growth from new markets is offset by softness in legacy terminals. Utilization rates at recently opened facilities and improvements in operating ratio will be important indicators of progress. Any improvement in shipment volumes, particularly if accompanied by better pricing, could help Saia restore operating leverage. Updates on shipment mix, regional volumes, and profitability trends by facility age will also be critical in upcoming quarters.
Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.
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Saia Posts Q2 Revenue Beat Margin Slips

(RTTNews) - Saia Inc. (SAIA) reported earnings for second quarter that Drops, from last year but beat the Street estimates.
The company's earnings came in at $71.39 million, or $2.67 per share. This compares with $102.52 million, or $3.83 per share, last year.
Analysts on average had expected the company to earn $2.39 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 0.7% to $817.12 million from $823.24 million last year.
Saia Inc. earnings at a glance (GAAP) :
-Earnings: $71.39 Mln. vs. $102.52 Mln. last year. -EPS: $2.67 vs. $3.83 last year. -Revenue: $817.12 Mln vs. $823.24 Mln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Saia Inc. Reports Decline In Q2 Bottom Line, But Beats Estimates

The following companies are expected to report earnings prior to market open on 07/25/2025. Visit our Earnings Calendar for a full list of expected earnings releases.
HCA Healthcare, Inc. (HCA)is reporting for the quarter ending June 30, 2025. The hospital company's consensus earnings per share forecast from the 10 analysts that follow the stock is $6.19. This value represents a 12.55% increase compared to the same quarter last year. In the past year HCA has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 11.79%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for HCA is 13.96 vs. an industry ratio of 6.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Aon plc (AON)is reporting for the quarter ending June 30, 2025. The insurance brokers company's consensus earnings per share forecast from the 11 analysts that follow the stock is $3.40. This value represents a 16.04% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for AON is 21.32 vs. an industry ratio of 20.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Charter Communications, Inc. (CHTR)is reporting for the quarter ending June 30, 2025. The cable tv company's consensus earnings per share forecast from the 6 analysts that follow the stock is $10.05. This value represents a 18.37% increase compared to the same quarter last year. CHTR missed the consensus earnings per share in the 1st calendar quarter of 2025 by -1.29%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CHTR is 10.07 vs. an industry ratio of 6.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Phillips 66 (PSX)is reporting for the quarter ending June 30, 2025. The oil refining company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.63. This value represents a 29.44% decrease compared to the same quarter last year. PSX missed the consensus earnings per share in the 1st calendar quarter of 2025 by -16.88%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for PSX is 29.26 vs. an industry ratio of 11.00, implying that they will have a higher earnings growth than their competitors in the same industry.
First Citizens BancShares, Inc. (FCNCA)is reporting for the quarter ending June 30, 2025. The banks (southeast) company's consensus earnings per share forecast from the 9 analysts that follow the stock is $39.08. This value represents a 23.18% decrease compared to the same quarter last year. FCNCA missed the consensus earnings per share in the 3rd calendar quarter of 2024 by -4.32%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for FCNCA is 13.26 vs. an industry ratio of 11.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Centene Corporation (CNC)is reporting for the quarter ending June 30, 2025. The hmo company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.68. This value represents a 71.90% decrease compared to the same quarter last year. CNC missed the consensus earnings per share in the 2nd calendar quarter of 2024 by -0.82%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CNC is 8.29 vs. an industry ratio of 16.90.
Booz Allen Hamilton Holding Corporation (BAH)is reporting for the quarter ending June 30, 2025. The consulting company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.46. This value represents a 5.80% increase compared to the same quarter last year. BAH missed the consensus earnings per share in the 2nd calendar quarter of 2024 by -9.21%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for BAH is 18.15 vs. an industry ratio of 24.40.
Saia, Inc. (SAIA)is reporting for the quarter ending June 30, 2025. The truck company's consensus earnings per share forecast from the 8 analysts that follow the stock is $2.40. This value represents a 37.34% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for SAIA is 33.15 vs. an industry ratio of 19.10, implying that they will have a higher earnings growth than their competitors in the same industry.
AutoNation, Inc. (AN)is reporting for the quarter ending June 30, 2025. The retail company's consensus earnings per share forecast from the 6 analysts that follow the stock is $4.70. This value represents a 17.79% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for AN is 10.82 vs. an industry ratio of 8.80, implying that they will have a higher earnings growth than their competitors in the same industry.
OneMain Holdings, Inc. (OMF)is reporting for the quarter ending June 30, 2025. The financial services company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.25. This value represents a 22.55% increase compared to the same quarter last year. In the past year OMF has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 10.97%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for OMF is 9.55 vs. an industry ratio of 13.60.
Lear Corporation (LEA)is reporting for the quarter ending June 30, 2025. The auto (truck) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $3.23. This value represents a 10.28% decrease compared to the same quarter last year. In the past year LEA has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 18.18%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for LEA is 8.94 vs. an industry ratio of 15.10.
Gentex Corporation (GNTX)is reporting for the quarter ending June 30, 2025. The auto (truck) company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.40. This value represents a 8.11% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for GNTX is 13.79 vs. an industry ratio of 15.10.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Earnings Report for July 25, 2025 : HCA, AON, CHTR, PSX, FCNCA, CNC, BAH, SAIA, AN, OMF, LEA, GNTX

Below is Validea's guru fundamental report for SAIA INC (SAIA). Of the 22 guru strategies we follow, SAIA rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability and low debt that trade at reasonable valuations.
SAIA INC (SAIA) is a mid-cap growth stock in the Trucking industry. The rating using this strategy is 49% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of SAIA INC
More Information on Warren Buffett
About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. As the chairman of Berkshire Hathaway, Buffett has consistently outperformed the S&P 500 for decades, and in the process has become one of the world's richest men. (Forbes puts his net worth at $37 billion.) Despite his fortune, Buffett is known for living a modest lifestyle, by billionaire standards. His primary residence remains the gray stucco Nebraska home he purchased for $31,500 nearly 50 years ago, according to Forbes, and his folksy Midwestern manner and penchant for simple pleasures -- a cherry Coke, a good burger, and a good book are all near the top of the list -- have been well-documented.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Guru Fundamental Report for SAIA - Warren Buffett

The S&P 500 Index ($SPX) (SPY) Monday closed up +3.26%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +2.81%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +4.02%. June E-mini S&P futures (ESM25) are up +3.32%, and June E-mini Nasdaq futures (NQM25) are up +4.03%.
Stock indexes rallied sharply on Monday, with the S&P 500 and Nasdaq 100 posting 2-1/4 month highs and the Dow Jones Industrials posting a 1-1/2 month high. Stocks, the dollar, and asset markets surged Monday after China and the US agreed to cut tariffs and de-escalate their trade war. On Monday, risk-on sentiment returned to asset markets after Treasury Secretary Bessent said trade talks with China were "very robust and productive." The US and China agreed to temporarily lower tariffs on each other's products for three months, with the US reducing its tariffs on China from 145% to 30% and China reducing its duties from 125% to 10%. Treasury Secretary Bessent Said that neither nation wants to "decouple" and that further talks might lead to "purchasing agreements" by China.
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Easing geopolitical risks also supports stocks as India and Pakistan agreed to an immediate ceasefire. Also, Ukraine President Zelenskiy said he would travel to Istanbul on Thursday to conduct direct negotiations with Russian President Putin.
Monday's comments from Fed Governor Kugler were negative for stocks, especially when she said that US tariff policies are likely to boost inflation and weigh on economic growth, even with the recently announced reduction to tariffs on China. She added that there could also be "significant effects" on productivity since businesses may cut back on investment and make other less efficient moves to navigate the tariffs.
This week, the markets will focus on tariff news and the prospects for additional trade deals. On Tuesday, Apr CPI is expected +0.3% m/m and +2.4% y/y, with Apr CPI es-food and energy up +0.3% m/m and +2.8% y/y. On Thursday, Apr retail sales are expected to be +0.1% m/m, and Apr retail sales ex-autos are expected to be +0.3% m/m. Also, on Thursday, Apr PPI final demand is expected +0.2% m/m and +2.5% y/y, with Apr PPI ex-food and energy expected +0.3% m/m and +3.1% y/y. Finally, on Thursday, Apr manufacturing production is expected to fall by 0.4% m/m. On Friday, Apr housing stars are expected to be +3.1% m/m to 1.365 million, and Apr building permits are expected to be -1.2% m/m to 1.450 million. Also, on Friday, the preliminary May University of Michigan US consumer sentiment index is expected +1.1 to 53.3.
The markets are discounting the chances at 11% for a -25 bp rate cut after the June 17-18 FOMC meeting.
Q1 earnings reporting season remains in progress. According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. So far, of the 412 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January.
Overseas stock markets on Monday settled higher. The Euro Stoxx 50 rallied to a 1-1/2 month high and closed up +1.56%. China's Shanghai Composite rose to a 6-week high and closed up +0.82%. Japan's Nikkei Stock 225 rose to a 6-week high and closed up +0.38%.
Interest Rates
June 10-year T-notes (ZNM25) Monday closed down -21 ticks. The 10-year T-note yield rose +7.8 bp to 4.571%. June T-notes on Monday tumbled to a 4-week low, and the 10-year T-note yield rose to a 4-week high of 4.467%. The easing of US-China trade tensions sparked a rally in global equity markets and reduced safe-haven demand for T-notes after the US and China agreed to temporarily lower some tariffs for 90 days. Also, supply pressures prompted bond dealers to short T-notes to hedge against the incoming supply as sixteen companies offered nearly $19 billion of investment-grade bonds on Monday. T-notes remained lower on hawkish comments from Fed Governor Kugler, who said US tariff policies could also have "significant effects" on productivity since businesses may cut back on investment.
European government bond yields on Monday moved higher. The 10-year German bund yield rose to a 1-month high of 2.650% and finished up +8.6 bp to 2.648%. The 10-year UK gilt yield rose to a 3-1/2 week high of 4.655% and ended up +7.5 bp to 4.643%.
ECB Governing Council member Kazaks said, "The financial markets at the moment are expecting another ECB rate cut in June, and while looking at today's data, I see that is a pretty possible step."
Swaps are discounting the chances at 83% for a -25 bp rate cut by the ECB at the June 5 policy meeting.
US Stock Movers
Magnificent Seven stocks surged Monday after the US and China agreed to slash tariffs. Amazon.com (AMZN) closed up more than +8%, and Meta Platforms (META) closed up more than +7%. Also, Apple (AAPL) and Tesla (TSLA) closed up more than +6%, and Nvidia (NVDA) closed up more than +5%. In addition, Alphabet (GOOGL) closed up more than +3%, and Microsoft (MSFT) closed up more than +2%.
Chip stocks soared Monday as US-China trade tensions eased. Microchip Technology (MCHP) closed up more than +10%, and Lam Research (LRCX) closed up more than +9%. Also, ON Semiconductor (ON), KLA Corp (KLAC), and Texas Instruments (TXN) closed up more than +8%, and Applied Materials (AMAT), Micron Technology (MU), NXP Semiconductors NV (NXPI), GlobalFoundries (GFS), Analog Devices (ADI), and Marvell Technology (MRVL) closed up more than +7%.
Travel and cruise stocks rallied Monday as the easing of global trade tensions spurs optimism in the economic outlook. Carnival (CCL) closed up more than +9%, and Norwegian Cruise Line Holdings (NCLH) closed up more than +8%. Also, Expedia Group (EXPE) and Host Hotels & Resorts (HST) closed up more than +6%, and Delta Air Lines (DAL) and American Airlines Holdings (AAL) closed up more than +5%. In addition, Royal Caribbean Cruises (RCL) closed up more than +3%, and United Airlines Holdings (UAL) closed up more than +2%.
Trucking stocks rallied Monday due to the easing of US-China trade tensions. XPO Inc (XPO) closed up more than +14%, and Saia Inc (SAIA) closed up more than +12%. Also, Old Dominion Freight Line (ODFL) closed up more than +11%, JB Hunt Transport Services (JBHT) closed up more than +10%, and CH Robinson Worldwide (CHRW) closed up more than +7%.
Energy stocks moved higher Monday as the price of WTI crude rose more than +1% to a 2-week high. As a result, Phillips 66 (PSX) closed up +7%, and Valero Energy (VLO) closed up more than +6%. Also, Haliburton (HAL), ConocoPhillips (COP), Marathon Petroleum (MPC), and Occidental Petroleum (OXY) closed up more than +4%. In addition, Schlumberger (SLB), Diamondback Energy (FANG), Devon Energy (DVN), and Baker Hughes (BKR) closed up more than 3%.
NRG Energy (NRG) closed up more than +26% to lead gainers in the S&P 500 after reporting Q1 adjusted Ebitda of $1.13 billion, well above the consensus of $891 million, and acquiring the nat-gas assets from LS Power Equity Advisors for about $12 billion, including debt.
Shopify (SHOP) closed up more than +14% after Nasdaq announced late last Friday that the stock will replace MongoDB in the Nasdaq 100 Index before trading begins on May 19.
Utility stocks were under pressure Monday due to rising T-note yields. Xcel Energy (EXL) closed down more than -4% to lead losers in the Nasdaq 100. Also, Exelon Corp (EXC), Alliant Energy (LNT), Consolidated Edison (ED), Duke Energy (DUK), and American Electric Power (AEP) closed down more than -3%.
Mining stocks are retreated Monday as easing global trade tensions knocked gold prices down more than -3% to a 1-week low. Gold Fields Ltd (GFI) closed down more than -10%, and AngloGold Ashanti Plc (AU) closed down more than -9%. Also, Newmont (NEM) closed down more than -5% to lead losers in the S&P 500.
Cigna Group (CI) closed down more than -4%, and CVS Health (CVS) closed down more than -3% after President Trump proposed a plan to "cut out" the drug industry middlemen as a way to reduce health costs.
Earnings Reports (5/13/2025)
Everus Construction Group Inc (ECG), Exelixis Inc (EXEL), GRAIL Inc (GRAL), Landstar System Inc (LSTR), Loar Holdings Inc (LOAR), NU Holdings Ltd/Cayman Islands (NU), Under Armour Inc (UAA).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Surge on the US-China Trade Truce

The S&P 500 Index ($SPX) (SPY) today is up +2.59%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +2.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +3.14%. June E-mini S&P futures (ESM25) are up +2.68%, and June E-mini Nasdaq futures (NQM25) are up +3.25%.
Stock indexes today are sharply higher, with the S&P 500 and Nasdaq 100 posting 2-1/4 month highs and the Dow Jones Industrials posting a 1-1/4 month high. Stocks, the dollar, and asset markets are soaring today after China and the US agreed to cut tariffs and de-escalate their trade war. Today, risk-on sentiment returned to asset markets after Treasury Secretary Bessent said trade talks with China were "very robust and productive." The US and China agreed to temporarily lower tariffs on each other's products for three months, with the US reducing its tariffs on China from 145% to 30% and China reducing its duties from 125% to 10%. Treasury Secretary Bessent Said that neither nation wants to "decouple" and that further talks might lead to "purchasing agreements" by China.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Easing geopolitical risks also supports stocks as India and Pakistan agreed to an immediate ceasefire. Also, Ukraine President Zelenskiy said he would travel to Istanbul on Thursday to conduct direct negotiations with Russian President Putin.
Today's comments from Fed Governor Kugler were negative for stocks, especially when she said that US tariff policies are likely to boost inflation and weigh on economic growth, even with the recently announced reduction to tariffs on China. She added that there could also be "significant effects" on productivity since businesses may cut back on investment and make other less efficient moves to navigate the tariffs.
This week, the markets will focus on tariff news and the prospects for additional trade deals. On Tuesday, Apr CPI is expected +0.3% m/m and +2.4% y/y, with Apr CPI es-food and energy up +0.3% m/m and +2.8% y/y. On Thursday, Apr retail sales are expected to be +0.1% m/m, and Apr retail sales ex-autos are expected to be +0.3% m/m. Also, on Thursday, Apr PPI final demand is expected +0.2% m/m and +2.5% y/y, with Apr PPI ex-food and energy expected +0.3% m/m and +3.1% y/y. Finally, on Thursday, Apr manufacturing production is expected to fall by 0.4% m/m. On Friday, Apr housing stars are expected to be +3.1% m/m to 1.365 million, and Apr building permits are expected to be -1.2% m/m to 1.450 million. Also, on Friday, the preliminary May University of Michigan US consumer sentiment index is expected +1.1 to 53.3.
The markets are discounting the chances at 8% for a -25 bp rate cut after the June 17-18 FOMC meeting.
Q1 earnings reporting season remains in progress. According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. So far, of the 412 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January.
Overseas stock markets today are higher. The Euro Stoxx 50 rallied to a 1-1/2 month high and is up +0.86%. China's Shanghai Composite rose to a 6-week high and closed up +0.82%. Japan's Nikkei Stock 225 rose to a 6-week high and closed up +0.38%.
Interest Rates
June 10-year T-notes (ZNM25) today are down -17 ticks. The 10-year T-note yield is up +5.5 bp to 4.433%. June T-notes today tumbled to a 4-week low, and the 10-year T-note yield rose to a 4-week high of 4.467%. The easing of US-China trade tensions sparked a rally in global equity markets and reduced safe-haven demand for T-notes after the US and China agreed to temporarily lower some tariffs for 90 days. Also, an increase in inflation expectations is bearish for T-notes as the 10-year breakeven inflation rate rose to a 5-week high today of 2.360%.
European government bond yields today are moving higher. The 10-year German bund yield rose to a 1-month high of 2.650% and is up +7.5 bp to 2.637%. The 10-year UK gilt yield rose to a 3-1/2 week high of 4.655% and is up +7.0 bp to 4.638%.
Swaps are discounting the chances at 84% for a -25 bp rate cut by the ECB at the June 5 policy meeting.
US Stock Movers
Magnificent Seven stocks surged today after the US and China agreed to slash tariffs. Amazon.com (AMZN) is up more than +7%, and Tesla (TSLA) and Meta Platforms (META) are up more than +6%. Also, Apple (AAPL) and Nvidia (NVDA) are up more than +4%. In addition, Alphabet (GOOGL) is up more than +2%, and Microsoft (MSFT) is up more than +1%.
Chip stocks are soaring today as US-China trade tensions ease. Microchip Technology (MCHP) is up more than +9%, and ON Semiconductor (ON), Micron Technology (MU), Lam Research (LRCX), and Texas Instruments (TXN) are up more than +8%. Also, Applied Materials (AMAT), KLA Corp (KLAC), NXP Semiconductors NV (NXPI) are up more than +7%, and Marvell Technology (MRVL), Analog Devices (ADI), and GlobalFoundries (GFS) are up more than +6%.
Travel and cruise stocks are climbing today as the easing of global trade tensions spurs optimism in the economic outlook. Carnival (CCL) is up more than +8%, and Norwegian Cruise Line Holdings (NCLH) and Expedia Group (EXPE) are up more than +6%. Also, Host Hotels & Resorts (HST), American Airlines Holdings (AAL), and Delta Air Lines (DAL) are up more than +5%. In addition, United Airlines Holdings (UAL) and Royal Caribbean Cruises (RCL) are up more than +3%.
Trucking stocks are rallying today due to the easing of US-China trade tensions. XPO Inc (XPO) is up more than +14%, and Saia Inc (SAIA) is up more than +10%. Also, JB Hunt Transport Services (JBHT) is up more than +9%, and Old Dominion Freight Line (ODFL) is up more than +8%.
Energy stocks are moving higher today, with the price of WTI crude up more than +2% to a 2-week high. As a result, Phillips 66 (PSX) is up more than +6%, and Haliburton (HAL), Diamondback Energy (FANG), Schlumberger (SLB), Marathon Petroleum (MPC), and Occidental Petroleum (OXY) are up more than +4%. Also, Devon Energy (DVN) is up more than +3%, and Exxon Mobil (XOM), Baker Hughes (BKR), and Hess Corp (HES) are up more than 2%.
Utility stocks are under pressure today due to rising T-note yields. Exelon Corp (EXC) is down more than -3% to lead losers in the Nasdaq 100. Also, Alliant Energy (LNT), Consolidated Edison (ED), Duke Energy (DUK), Xcel Energy (EXL), DTE Energy (DTE), and American Electric Power (AEP) are down more than -2%.
Cigna Group (CI) is down more than -5% to lead losers in the S&P 500 after President Trump proposed a plan to "cut out" the drug industry middlemen as a way to reduce health costs. CVS Health (CVS) is also down more than -2% on the news.
Mining stocks are sliding today as easing global trade tensions hammer gold prices down more than -3% to a 1-week low. AngloGold Ashanti Plc (AU) and Gold Fields Ltd (GFI) are down more than -9%, and Newmont (NEM) is down more than -4%.
NRG Energy (NRG) is up more than +23% to lead gainers in the S&P 500 after reporting Q1 adjusted Ebitda of $1.13 billion, well above the consensus of $891 million, and acquiring the nat-gas assets from LS Power Equity Advisors for about $12 billion, including debt.
Shopify (SHOP) is up more than +12% after Nasdaq announced late last Friday that the stock will replace MongoDB in the Nasdaq 100 Index before trading begins on May 19.
Earnings Reports (5/12/2025)
Acadia Healthcare Co Inc (ACHC), DaVita Inc (DVA), Essential Utilities Inc (WTRG), Fortrea Holdings Inc (FTRE), Fox Corp (FOXA), New Fortress Energy Inc (NFE), NRG Energy Inc (NRG), Seaport Entertainment Group In (SEG), Simon Property Group Inc (SPG), Standardaero Inc (SARO), ZoomInfo Technologies Inc (ZI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks are Sharply Higher as Global Trade Tensions Ease

There appears to be progress in resolving the trade war between the United States and China, and the companies that are responsible for hauling the goods imported into the United States are rallying on the prospect of having more work ahead.
Shares of XPO (NYSE: XPO) are up 14% as of 11:30 a.m. ET on Monday, and shares of Old Dominion Freight Line (NASDAQ: ODFL) and Saia (NASDAQ: SAIA) are each up more than 9% apiece.
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Eliminating uncertainty
Tariffs and trade wars can ripple through vast portions of the economy, but few sectors are more directly impacted than transportation stocks. Truckers including XPO, Old Dominion, and Saia are responsible for the last leg of the journey for goods made overseas and brought in through ports, hauling goods from distribution centers to their final destinations.
If tariffs slow down imports, that means less business for the truckers. With that in mind, investors were understandably nervous about these stocks as rhetoric, and tariff rates, heated up in recent months.
Over the weekend, the U.S. and China scaled back recent tariff escalations for at least 90 days after making progress toward a new trade deal. Negotiations continue, but Wall Street is rallying on the signs of progress.
Is now the time to buy trucking stocks?
Investors should be warned that some damage is likely already done. With U.S. ports quiet and few ships sailing toward the West Coast, there will be at least some downtime even if large importers put in new orders today. The second quarter is likely to see the impact of the lag no matter what happens from here.
But a short-term slowdown is better than a long-term slowdown, and these companies are all healthy enough to weather a few bad months.
A lot can go wrong from here. Trade talks could break down, or large importers spooked by the last six weeks could be gun-shy about immediately resuming large-scale imports. Investors considering buying in today should be prepared for some rough road ahead as the headlines are hopefully turned into firm agreements.
But for those interested in steady, reliable stocks, these truckers are among the best run in the business. Patient, long-term investors will likely do well over time buying into any one of XPO, Old Dominion, or Saia today.
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Lou Whiteman has positions in XPO. The Motley Fool has positions in and recommends Old Dominion Freight Line. The Motley Fool recommends XPO and recommends the following options: long January 2026 $195 calls on Old Dominion Freight Line and short January 2026 $200 calls on Old Dominion Freight Line. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Trucking Stocks Are in the Fast Lane Today

The S&P 500 Index ($SPX) (SPY) today is up +2.63%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +2.49%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +3.27%. June E-mini S&P futures (ESM25) are up +2.68%, and June E-mini Nasdaq futures (NQM25) are up +3.38%.
Stock indexes today are sharply higher, with the S&P 500 and Nasdaq 100 posting 2-1/4 month highs and the Dow Jones Industrials posting a 1-1/4 month high. Stocks, the dollar, and asset markets are soaring today after China and the US agreed to cut tariffs and de-escalate their trade war. Today, risk-on sentiment returned to asset markets after Treasury Secretary Bessent said trade talks with China were “very robust and productive.” The US and China agreed to temporarily lower tariffs on each other’s products for three months, with the US reducing its tariffs on China from 145% to 30% and China reducing its duties from 125% to 10%. Treasury Secretary Bessent Said that neither nation wants to “decouple” and that further talks might lead to “purchasing agreements” by China.
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Easing geopolitical risks also supports stocks as India and Pakistan agreed to an immediate ceasefire. Also, Ukraine President Zelenskiy said he will travel to Istanbul on Thursday for direct negotiations with Russian President Putin.
This week, the markets will focus on tariff news and the prospects for additional trade deals. On Tuesday, Apr CPI is expected +0.3% m/m and +2.4% y/y, with Apr CPI es-food and energy up +0.3% m/m and +2.8% y/y. On Thursday, Apr retail sales are expected to be +0.1% m/m, and Apr retail sales ex-autos are expected to be +0.3% m/m. Also, on Thursday, Apr PPI final demand is expected +0.2% m/m and +2.5% y/y, with Apr PPI ex-food and energy expected +0.3% m/m and +3.1% y/y. Finally, on Thursday, Apr manufacturing production is expected to fall by 0.4% m/m. On Friday, Apr housing stars are expected to be +3.1% m/m to 1.365 million, and Apr building permits are expected to be -1.2% m/m to 1.450 million. Also, on Friday, the preliminary May University of Michigan US consumer sentiment index is expected +1.1 to 53.3.
The markets are discounting the chances at 8% for a -25 bp rate cut after the June 17-18 FOMC meeting.
Q1 earnings reporting season remains in progress. According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. So far, of the 412 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January.
Overseas stock markets today are higher. The Euro Stoxx 50 rallied to a 1-1/2 month high and is up +1.63%. China’s Shanghai Composite rose to a 6-week high and closed up +0.82%. Japan’s Nikkei Stock 225 rose to a 6-week high and closed up +0.38%.
Interest Rates
June 10-year T-notes (ZNM25) today are down -24 ticks. The 10-year T-note yield is up +8.3 bp to 4.461%. June T-notes today tumbled to a 4-week low, and the 10-year T-note yield rose to a 4-week high of 4.467%. The easing of US-China trade tensions sparked a rally in global equity markets and reduced safe-haven demand for T-notes after the US and China agreed to temporarily lower some tariffs for 90 days. Also, an increase in inflation expectations is bearish for T-notes as the 10-year breakeven inflation rate rose to a 5-week high today of 2.360%.
European government bond yields today are moving higher. The 10-year German bund yield rose to a 1-month high of 2.650% and is up +8.6 bp to 2.648%. The 10-year UK gilt yield rose to a 3-1/2 week high of 4.655% and is up +8.2 bp to 4.649%.
Swaps are discounting the chances at 84% for a -25 bp rate cut by the ECB at the June 5 policy meeting.
US Stock Movers
Magnificent Seven stocks surged today after the US and China agreed to slash tariffs. Amazon.com (AMZN) is up more than +8%, and Tesla (TSLA) and Meta Platforms (META) are up more than +6%. Also, Apple (AAPL) is up more than +5%, and Nvidia (NVDA) is up more than +4%. In addition, Alphabet (GOOGL) is up more than +2%, and Microsoft (MSFT) is up more than +1%.
Chip stocks are soaring today as US-China trade tensions ease. ON Semiconductor (ON) is up more than +9%, and Micron Technology (MU) and Microchip Technology (MCHP) are up more than +8%. Also, Lam Research (LRCX) and NXP Semiconductors NV (NXPI) are up more than +7%, and Marvell Technology (MRVL), Texas Instruments (TXN), Applied Materials (AMAT), KLA Corp (KLAC) and GlobalFoundries (GFS) are up more than +6%.
Travel and cruise stocks are climbing today as the easing of global trade tensions spurs optimism in the economic outlook. Carnival (CCL) and Norwegian Cruise Line Holdings (NCLH) are up more than +8%, and Delta Air Lines (DAL) is up more than +7%. Also, Expedia Group (EXPE) is up more than +6%, and United Airlines Holdings (UAL), Royal Caribbean Cruises (RCL), and American Airlines Holdings (AAL) are up more than +5%.
Trucking stocks are rallying today due to the easing of US-China trade tensions. Saia Inc (SAIA) is up more than +16%, and XPO Inc (XPO) is up more than +12%. Also, Old Dominion Freight Line (ODFL) is up more than +10% to lead gainers in the Nasdaq 100, and JB Hunt Transport Services (JBHT) is up more than +10%.
Energy stocks are moving higher today, with the price of WTI crude up more than +3% to a 2-week high. As a result, Haliburton (HAL) and Phillips 66 (PSX) are up more than +6%, and Diamondback Energy (FANG), Marathon Petroleum (MPC), Devon Energy (DVN), and Occidental Petroleum (OXY) are up more than +5%. Also, Exxon Mobil (XOM), Baker Hughes (BKR), and Hess Corp (HES) are up more than 2%.
Utility stocks are under pressure today due to rising T-note yields. Exelon Corp (EXC) is down more than -3% to lead losers in the Nasdaq 100. Also, Consolidated Edison (ED), Duke Energy (DUK), Xcel Energy (EXL), DTE Energy (DTE), and American Electric Power (AEP) are down more than -2%.
Mining stocks are sliding today as easing global trade tensions hammer gold prices down more than -3% to a 1-week low. AngloGold Ashanti Plc (AU) and Gold Fields Ltd (GFI) are down more than -8%, and Newmont (NEM) is down more than -4%.
NRG Energy (NRG) is up more than +17% to lead gainers in the S&P 500 after reporting Q1 adjusted Ebitda of $1.13 billion, well above the consensus of $891 million, and acquiring the nat-gas assets from LS Power Equity Advisors for about $12 billion, including debt.
Shopify (SHOP) is up more than +12% after Nasdaq announced late last Friday that the stock will replace MongoDB in the Nasdaq 100 Index before trading begins on May 19.
Earnings Reports (5/12/2025)
Acadia Healthcare Co Inc (ACHC), DaVita Inc (DVA), Essential Utilities Inc (WTRG), Fortrea Holdings Inc (FTRE), Fox Corp (FOXA), New Fortress Energy Inc (NFE), NRG Energy Inc (NRG), Seaport Entertainment Group In (SEG), Simon Property Group Inc (SPG), Standardaero Inc (SARO), ZoomInfo Technologies Inc (ZI).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Soar as US and China Agree to Slash Tariffs

Below is Validea's guru fundamental report for SAIA INC (SAIA). Of the 22 guru strategies we follow, SAIA rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability and low debt that trade at reasonable valuations.
SAIA INC (SAIA) is a mid-cap growth stock in the Trucking industry. The rating using this strategy is 49% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS PREDICTABILITY:
PASS
DEBT SERVICE:
PASS
RETURN ON EQUITY:
FAIL
RETURN ON TOTAL CAPITAL:
FAIL
FREE CASH FLOW:
FAIL
USE OF RETAINED EARNINGS:
PASS
SHARE REPURCHASE:
NEUTRAL
INITIAL RATE OF RETURN:
PASS
EXPECTED RETURN:
FAIL
Detailed Analysis of SAIA INC
SAIA Guru Analysis
SAIA Fundamental Analysis
More Information on Warren Buffett
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About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. As the chairman of Berkshire Hathaway, Buffett has consistently outperformed the S&P 500 for decades, and in the process has become one of the world's richest men. (Forbes puts his net worth at $37 billion.) Despite his fortune, Buffett is known for living a modest lifestyle, by billionaire standards. His primary residence remains the gray stucco Nebraska home he purchased for $31,500 nearly 50 years ago, according to Forbes, and his folksy Midwestern manner and penchant for simple pleasures -- a cherry Coke, a good burger, and a good book are all near the top of the list -- have been well-documented.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Saia, Inc.

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