Stifel analysts initiated coverage of FedEx Freight on Friday, saying the standalone less-than-truckload carrier that began trading as an independent company on June 1 is poised to benefit from what they described as a recovery in the U.S. industrial economy. The analysts said the monthly ISM Manufacturing PMI has shown positive growth for the first four months of 2026, according to a note cited in The Wall Street Journal’s Market Talk roundup. FedEx Freight, spun off from parent FedEx, has a large fleet footprint and market share that positions it as the leader in the less-than-truckload market, the analysts said.
In dry-bulk shipping, Genco Shipping & Trading said proxy advisory firms Glass Lewis and Egan-Jones Proxy Services are backing Genco’s board as the company seeks to fend off a proxy battle from rival Diana Shipping. Diana Shipping has nominated candidates to fill Genco’s board and launched a tender offer to acquire the company’s outstanding equity, Genco said. The company said both proxy firms noted that Diana’s bid is below Genco’s net asset value estimates, and that Genco’s recent returns and performance weaken Diana’s case.
Gold prices traded below $4,450 a troy ounce Friday and were on track for a weekly loss, according to the roundup. Analysts at Saxo Bank said uncertainty surrounding U.S.-Iran peace talks and renewed hostilities in the Middle East have weakened investor sentiment. The analysts warned that sustained disruptions to energy shipments through the Strait of Hormuz could deliver fuel price shocks. Concerns over higher oil prices have strengthened the prospect of interest rates staying higher for longer, weighing on non-yielding assets such as gold, the analysts said. New York gold futures were down 0.3% to $4,492.70 an ounce.
Citi analysts Klas Bergelind and Siron Ng wrote that Volvo’s upcoming investor day is likely to focus on the Swedish truck maker’s earnings resilience, future growth drivers, and capital allocation strategy. The analysts said there is renewed debate about a potential spinoff of the Volvo Construction Equipment unit and a more generous dividend policy, though they viewed both as unlikely. Citi said it believes the message of likely solid margin expansion as volumes accelerate from the second half will reassure investors, and that it still sees truck margin upside versus consensus in the second half despite headwinds from research and development and raw material costs. Citi rates Volvo at buy with a 354 Swedish kronor target price. Volvo shares fell 1.1% to 322.30 kronor.
International Container Terminal Services may gain from its acquisition of Brazilian logistics and warehousing firm Cragea via subsidiary IRB Logistica, according to Maybank Securities analyst Germaine Guinto. The acquisition expands the Philippine-listed port manager’s integrated logistics footprint in Sao Paulo and strengthens its presence beyond port operations, Guinto said. The acquisition could also enhance ICTSI’s positioning for the proposed Tecon 10 container-terminal bid at the Port of Santos, where Guinto said it remains a leading contender. Maybank raised the stock’s target price to 1,050.00 pesos from 880.00 pesos with an unchanged buy rating. Shares were 1.1% higher at 859.00 pesos.
BofA Securities economists said in a research note that the push for domestic substitution in China is a structural factor weighing on the country’s imports. Autos and equipment are leading the way, the economists said, noting that strong policy support has enabled rapid EV expansion, making China the world’s largest producer and a net exporter. Semiconductors are the next catalyst for imports, where heavy policy support is driving incremental gains but reliance on imported advanced chips remains, BofA said.