When RXO came out with its first-quarter earnings for 2023, its performance was clearly superior to those of its brokerage peers, and it looked like the company might have found the magic sauce to handle a weak freight market.
But the latest quarterly report from the stand-alone 3PL had landed with a thud, a declining stock price and some reductions in Wall Street analyst recommendations on the company.
The scorecard for Friday was that RXO (NYSE: RXO) stock closed down 2.27%, or 47 cents, to...