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Transportation company ArcBest reported Friday its second-quarter net income dropped 60% and missed analysts' estimates for the period, as the trucking industry continues to struggle in what experts are calling a freight recession.
P.A.M. Transportation Services Inc. saw its shares dip Thursday after the company said its second-quarter profits fell more than 60% when it reported earnings after market close Wednesday.
A new five-year master freight contract between ABF Freight and the International Brotherhood of Teamsters -- complete with substantial raises and benefits increases for truck drivers -- begins on Sunday.