Podcast Summary
UPS sale to RXO: UPS sells Coyote logistics to RXO for $1.025 billion, making RXO the third largest provider of brokered transportation in North America and increasing their high-value clients by 80%
UPS is selling its Coyote logistics business units to RXO for $1.025 billion, making RXO the third largest provider of brokered transportation in North America upon closing. This transaction is expected to diversify RXO's customer base, increasing the number of high-value clients by approximately 80%. Additionally, the FTSE 100 and DAX are up in the world markets, while Dow S&P and NASDAQ futures are in mixed territory. Prudential is a notable mover pre-market after announcing plans to buy back $2 billion of stock. The Fed's Patrick Harker will speak on the economic outlook at 1 p.m. during the Global Interdependence Center's conference. Other notable news includes CDK Global's efforts to fix a data breach and Microsoft's potential $100 billion opportunity in cybersecurity. Overall, the markets are showing mixed signs, with crude oil up and Bitcoin down.