LOS ANGELES XPO Logistics Inc shares sank more than 14 percent on Friday after it said its biggest customer, believed to be Amazon.com, slashed its business with the warehousing and last-mile delivery provider by two-thirds.
LOS ANGELES, Feb 15 XPO Logistics Inc
shares sank more than 17 percent after it said on Friday its
biggest customer, believed to be Amazon.com, slashed
its business with the warehousing and last-mile delivery
provider by two-thirds.
XPO Logistics Inc, one of the largest global freight transportation and warehousing companies, on Thursday reported quarterly profit that missed targets and warned that a reduction of business from its biggest customer would hit 2019 growth.
* Plans capital spending of 8.5-10 pct of 2019 revenue
(Adds CEO comment, details on results)
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