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XPO Logistics Inc. (XPO) Is Losing Ground After Offering Announcement

XPO Logistics Inc. (XPO) announced Monday morning that it plans to offer 11,000,000 shares of its common stock in a registered underwritten offering.

The company that it expects to report second quarter revenues of $3.755 billion to $3.765 billion. The consensus estimate is for revenues of $3.66 billion.

XPO Logistics gapped open lower Monday and has continued to lose ground in early trade. The stock is now down 3.17 at $60.67. XPO Logistics has dropped to over a 2-week low.

by RTTNews Staff Writer

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