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March 19, 2014
06:12 EDTCNW, NSC, UPS, CSX, YRCW, FDX, UNPFedEx results to show how much winter hurt whole freight industry, WSJ reports
FedEx reports Q3 earnings this morning, and the Wall Street Journal suggests it will offer a look into how badly this winter hurt the air-express business, but the wider U.S. freight and transportation industry. Reference Link
News For FDX;UPS;CNW;YRCW;NSC;UNP;CSX From The Last 14 Days
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October 5, 2015
05:46 EDTNSC, UNP, CSXNorfolk Southern downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Brandon Oglenski downgraded Norfolk Southern (NSX) to Underweight saying service challenges are driving competitive intermodal share loss to CSX (CSX). The analyst also highlighted fuel revenue and coal headwinds. He cut his price target for shares to $76 from $91. The freight railroad owner closed Friday up $1.68 to $79.01. Oglenski also downgraded this morning shares of Union Pacific (UNP) to Equal Weight.
October 2, 2015
12:23 EDTUPSSupply chain issues impact Pratt & Whitney production this summer, WSJ says
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09:01 EDTCNWCon-way Freight announces fall general rate increase
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08:03 EDTUPSConcerns about XPO Logistics 'rather overblown,' says Stifel
After meeting with XPO's (XPO) senior management and attending a Q&A session held by its CEO, Stifel says that the Con-way deal will enable the company to compete in new markets and should create "a lot more value over time" than the UPS (UPS)-Coyote deal. The firm is very upbeat on XPO's management team. It keeps a $62 price target and Buy rating on the shares.
07:54 EDTCNWXPO management, customers 'very excited' about deal, says Deutsche Bank
Deutsche Bank analyst Robert Salmon says the management of XPO Logistics (XPO) along with the company's customers are "very excited" about the pending acquisition of Con-way (CNW). The addition of Con-way's large asset-based trucking company has put XPO "on the map," Salmon tells investors in a research note. He reiterates a Buy rating on the stock with a $42 price target after meeting with management.
07:35 EDTUPS, FDXUPS lobbies EU against FedEx-TNT merger, Bloomberg says
UPS (UPS) is lobbying to the EU against FedEx's (FDX) offer to acquire TNT Express (TNTEY), Bloomberg reports, citing people familiar with the EU's investigation of the proposed FedEx-TNT tie-up. UPS' proposal to acquire TNT Express was blocked by the EU two years ago, the report says. Reference Link
06:20 EDTFDX, UPSEU may demand concessions in FedEx, TNT merger, WSJ reports
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October 1, 2015
10:00 EDTNSCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMEC Foster Wheeler (AMFW) upgraded to Neutral from Underperform at Macquarie... Ares Capital (ARCC) upgraded to Outperform from Neutral at Macquarie... Celgene (CELG) upgraded to Overweight from Neutral at JPMorgan... Deutsche Boerse (DBOEY) upgraded to Overweight from Underweight at Barclays... Devon Energy (DVN) upgraded on valuation, catlysts at Bernstein... HeartWare (HTWR) upgraded to Market Perform from Underperform at Northland... IBERIABANK (IBKC) upgraded to Buy from Hold at Sandler O'Neill... (JD) upgraded to Buy from Hold at Deutsche Bank... Kirby (KEX) upgraded to Neutral from Underperform at Macquarie... Madison Square Garden (MSG) upgraded to Buy from Hold at Jefferies... Microsoft (MSFT) upgraded to Neutral from Underperform at BofA/Merrill... Newell Rubbermaid (NWL) upgraded to Buy from Neutral at B. Riley... Norfolk Southern (NSC) upgraded to Outperform from Peer Perform at Wolfe Research... Pernod Ricard (PDRDY) upgraded to Buy from Neutral at Goldman... RWE AG (RWEOY) upgraded to Sector Perform from Underperform at RBC Capital... SanDisk (SNDK) upgraded to Overweight from Equal Weight at Morgan Stanley... Steven Madden (SHOO) upgraded to Outperform ahead of earnings turn at Telsey Advisory... Trex Company (TREX) upgraded to Strong Buy from Buy at CL King... Universal Health (UHS) upgraded to Overweight from Sector Weight at KeyBanc... Western Digital (WDC) upgraded on transaction, valuation, momentum at Argus... Workday (WDAY) upgraded to Overweight from Equal Weight at Stephens.
09:49 EDTCSXCSX says taking precautions, preparing for Hurricane Joaquin
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09:30 EDTNSC, CSX, UNPRails sector upgraded to Market Weight from Market Weight at Wolfe Research
Wolfe Research upgraded the Rails Sector to Market Overweight citing limited downside in earnings and valuations at current levels. The firm recommends investors aggressively buy rail stocks again given below market multiples and double-digit earnings growth next year. As part of the sector upgrade, the analyst raised Norfolk Southern to Outperform from Peer Perform.
09:16 EDTNSCNorfolk Southern upgraded to Outperform from Peer Perform at Wolfe Research
Wolfe upgraded Norfolk Southern to Outperform and established a $91 price target on share. Analyst Peter Gennari expects Norfolk to return to double digit growth next year as coal headwinds moderate, new management delivers results, and potential for some shareholder activism.
06:10 EDTUPSUPS to take minority stake in tech startup Ally Commerce, WSJ reports
UPS is investing in Ally Commerce, a tech startup that bypasses middlemen and allows brand manufacturers to set up websites and sell directly to consumers, The Wall Street Journal reports. UPS is set to take a minority stake in the startup, though exact terms of the investment have not been disclosed. Reference Link
September 30, 2015
12:26 EDTUNP, NSC, CSXRails advance after Goldman says rate of volume declines improving
Shares of railroad operators are advancing after Goldman Sachs moved its Rails coverage view to Attractive from Neutral. WHAT'S NEW: In a note to investors, Goldman Sach's Tom Kim and team said while rail volumes continue to contract, the rate of change has begun to improve and the firm sees this as an early inflection indicator. The negatives in the rail sector appear to be well known as the sector has been under "significant" selling pressure since peaking in the fourth quarter of 2014, added Goldman Sachs. The firm sees structural improvement in the profitability of the rail sector as operating margins for 2015 are estimated to have expanded to 35% from 29% in 2010. Goldman thinks the negative earnings per share revisions cycle for rails is over and that investor expectations are achievable. The firm sees earnings as a catalyst for sector performance and believes carloads will grow again in 2016 with 4% year-over-year growth in intermodal. WHAT'S NOTABLE: Kim upgraded Canadian Pacific (CP) to Buy from Neutral and reiterated its Buy rating on Union Pacific (UNP). The firm sees upside potential for Canadian National Railway (CNI), CSX (CSX), Kansas City Southern (KSU), and Norfolk Southern Corporation (NSC), but it maintained its Neutral ratings on those names as the firm expects these stocks to trade in-line with its broader Transportation coverage universe. PRICE ACTION: In afternoon trading, shares of Canadian Pacific are up nearly 3%, while Union Pacific is higher by almost 1%. CSX is advancing 2.2%, while Canadian National Railway, Kansas City Southern, and Norfolk Southern Corporation are each up over 1%.
08:08 EDTUNP, CSX, NSCRails sector upgraded to Attractive from Neutral at Goldman
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06:55 EDTCNWXPO CEO: Not worked up about Con-Way deal stock hit, WSJ reports
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September 29, 2015
09:34 EDTUPSDetroit Economic Club to hold a luncheon meeting
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September 28, 2015
18:02 EDTCNWCon-way says FTC grants early termination of waiting period
Con-way (CNW) announced in a regulatory filing that on September 25, the FTC granted early termination of the waiting period under the HSR Act applicable to the tender offer by Canada Merger Corp., a wholly owned subsidiary of XPO Logistics (XPO), to purchase any and all of the shares of Con-way's common stock.
11:42 EDTCSXCSX, mechanical unions announce labor partnership
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06:39 EDTFDX, CSXCSX added to US 1 List; FedEx and Whirlpool removed at BofA/Merrill
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September 25, 2015
07:53 EDTUNPUnion Pacific underappreciated by the market, says Credit Suisse
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