News Summary

• Knight-Swift's Q2 earnings blew past expectations, driven by an impressive surge in truckload rates.
• Tender rejection rates ran at twice the market average, with double-digit contract rate increases through and spot exposure rising to 15%.
• LTL tonnage rose 4% but shipment count fell 4%, with the gap explained by an 8% increase in weight per shipment.
• With more than 600 trucks unseatd due to driver availability constraints, management's commentary pointed to a tight driver market persisting.