Why RXO Stock Is in the Fast Lane Today

The company is buying the brokerage business of UPS. Building scale RXO, which was spun out of trucking company XPO in November 2022, is focused on brokerage, or connecting customers in need of shipping services to shippers. The deal would make RXO the third-largest U.S. broker, adding about 15,000 customers to its existing 4,000 and pushing RXO deeper into verticals including food and beverage. "RXO's highly accretive acquisition of Coyote will immediately increase the scale of our brokerage business, prov ...