Yellow may have collapsed in the trucking market but it’s become an unlikely winner on Wall Street. Shares of the deeply-indebted trucker have more than doubled two days in a row, the WSJ’s Soma Biswas, Sarah Nassauer and Jodi Xu Klein report, pushing to a five-month high in defiance of the company’s recent shutdown of operations and impending bankruptcy. Shareholders of bankrupt companies are rarely in the money—usually when the business gets an unexpected boost that restores its solvency. That isn’t likely at Yellow since trucking companies inevitably liquidate rather than restructure their finances. Yet with business evaporated, Yellow could be more valuable to some in liquidation than as an ongoing operation, largely because of its real estate and other holdings. Among those piling into Yellow stock is a Boston hedge fund, MFN Partners, which last year also took a big stake in Yellow competitor XPO.

• TForce Freight owner TFI International’s second quarter profit fell 54% to $128.2 million on a 25% drop in the trucker's revenue. (Canadian Press)
• Uber Freight’s second-quarter revenue fell 30% as the business announced a freight brokerage deal with Kimberly-Clark. (Dow Jones Newswires)
• Truck maker Paccar raised its production forecast to 290,000 to 320,000 heavy-duty truck deliveries this year. (Transport Dive)

The collapse of trucking giant Yellow is reviving questions about government support that went to the troubled business. The shutdown of one of the country’s biggest truckers risks saddling American taxpayers with financial losses, the WSJ’s Andrew Duehren writes, largely from the $700 million that the federal government lent Yellow at the height of the Covid-19 pandemic. That backing provided a crucial but short-lived lifeline for the business, and it came with a 30% stake in Yellow for the Treasury Department that now could be wiped out. Yellow says the company expects to pay back its loan in full. The Biden administration hasn’t indicated plans to give any more aid to Yellow, which until recently had nearly 30,000 workers. It doesn’t look like worker pensions are in danger. Late last year, the Biden administration distributed $36 billion to shore up a multiemployer pension plan that Yellow participates in.

Fast-fashion retailers that rely on highly fickle shoppers now want their customers to buy into the circular supply chain. Apparel makers H&M, Uniqlo and Zara are rolling out repair services to encourage customers to mend their clothes rather than throw them away, the WSJ’s Trefor Moss reports, as the fashion industry is under pressure from regulators and consumers to lessen its environmental impact. The fast-fashion brands join other companies that have sought to make their supply chains more sustainable by asking customers to reuse or recycle goods. But while some high-end fashion retailers have long offered to repair pricey items such as handbags and coats, fast-fashion brands might find the services are a tough sell for shoppers who buy based on low prices and fast-changing tastes. The effort may also trigger a market problem since reselling used clothing also threatens to cannibalize sales of new apparel.

Job openings in the U.S. fell to the lowest level since April 2021 on declining demand for transportation and warehouse workers. (WSJ)

A measure of factory activity in the U.S. improved slightly last month but remained firmly in contraction. (MarketWatch)

Caterpillar’s revenue surged 22% last quarter as high construction demand offset rising parts costs. (WSJ)

Uber Technologies posted its first-ever operating profit in the second quarter. (WSJ)

Japan's government plans to work with three African nations to develop supply chains for minerals critical in making electric vehicle batteries. (Nikkei Asia)

DHL’s second-quarter revenue fell 16% on a sharp drop in freight business, pulling operating profit down 27% to about $1.85 billion. (Reuters)

Toyota’s net profit jumped 78% in the second quarter as rising sales prices offset higher materials costs. (Dow Jones Newswires)

A logjam of coal-laden trucks at South Africa’s border with Mozambique is bringing havoc to a small border town. (Bloomberg)

Some rail unions were highly critical of the selection of Jim Vena as CEO of Union Pacific. (Trains)

Xeneta says 40 containerships joined the global fleet in June, totaling capacity for 300,000 boxes. (Seatrade Maritime)

Cosco Shipping will start using an electric containership on a feeder route on China’s Yangtze River. (Splash 247)

Second-profit at ship owner Diana Shipping fell sharply to $10.4 million on declining dry-bulk charter rates. (Lloyd’s List)

Canadian trucker Titanium Transportation acquired Georgia-based Crane Transport for $59 million. (Commercial Carrier Journal)

Parcel workers face tough conditions this summer as they deliver packages in scorching heat. (Wired)

Taylor Swift gave $100,000 bonuses to each of the truckers hauling goods on her Eras Tour. (Jezebel)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on X at @WSJLogistics.