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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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March 26, 2015
09:31 EDTCSXCSX downgraded to Neutral from Buy at Cleveland Research
Cleveland Research downgraded CSX to Neutral due to a more cautious view of the rail industry given rising labor costs, lingering near-term service issues, and slowing oil and gas related carload growth.
09:20 EDTNSCNorfolk Southern downgraded to Neutral from Buy at Cleveland Research
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09:18 EDTUNPUnion Pacific downgraded to Neutral from Buy at Cleveland Research
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07:38 EDTCNWCon-way upgraded at Stifel
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07:32 EDTNSCNorfolk Southern downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Norfolk Southern to Market Perform due to valuation.
06:28 EDTUNPUnion Pacific downgraded to Market Perform from Outperform at Cowen
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06:21 EDTCNWCon-way upgraded to Buy from Hold at Stifel
March 24, 2015
09:01 EDTNSCStephens to hold an investor trip
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March 23, 2015
16:20 EDTUNP, NSCOn The Fly: Closing Wrap
Stocks on Wall Street opened in relatively quiet fashion and remained that way throughout the session until a sharp selloff in the closing minutes. For most of the day the averages moved in a narrow range, as the Dow broke its streak of consecutive days with triple digit moves. Like stocks, the oil markets had a quiet session that stood out amid the recent volatility in crude prices. A late day drop prevented the major stock indexes from adding to the big gains they'd notched on Friday. ECONOMIC EVENTS: In the U.S., the Chicago Fed's national activity index fell to -0.11 in February, below expectations for a reading of 0.10. Existing home sales rose 1.2% to a 4.88M rate in February, which was below the consensus forecast for them to grow 2% to a 4.92M unit rate. COMPANY NEWS: Shares of Kansas City Southern (KSU) declined $9.21, or 7.96%, to $106.48 after the railroad operator lowered its fiscal year revenue guidance to reflect slower year-to-date carload growth primarily from the energy sector, along with a continued deterioration in the value of the Mexican peso against the U.S. dollar and lower fuel surcharge revenues driven by lower WTI prices. The revenue warning appeared to weigh on others in the rail industry as well, with Union Pacific (UNP) falling $4.67, or 3.98%, to $112.78, Norfolk Southern (NSC) dropping $3.87, or 3.5%, to $106.56 and Canadian National (CNI) sliding $1.13, or 1.65%, to $67.24. MAJOR MOVERS: Among the notable gainers was ImmunoGen (IMGN), which gained $1.25, or 16.8%, to $8.69 after Takeda (TKPYY) licensed rights to use the company's antibody drug conjugate technology. Also higher was Tenet Healthcare (THC), which rose $2.45, or 4.94%, to $52.07 after agreeing to combine its short-stay surgery and imaging center assets into a new joint venture with United Surgical Partners International. Tenet will initially own 50.1% of the joint venture and will consolidate its financial results and will have a path to full ownership of USPI over the next five years through a put/call structure, the company noted. Among the noteworthy losers was MEI Pharma (MEIP), which plunged $4.37, or 69.37%, to $1.93 and was downgraded by at least four Wall Street research firms after the combination of Pracinostat and azacitidine showed no difference in the rate of complete remission, the primary endpoint of a Phase II study, compared to azacitidine alone. Also lower were shares of Vertex (VRTX), which fell $5.21, or 3.98%, to $125.79 after reporting data from a study evaluating VX-661 in combination with ivacaftor in cystic fibrosis that JPMorgan said was generally below expectations. INDEXES: The Dow fell 11.61, or 0.06%, to 18,116.04, the Nasdaq lost 15.44, or 0.31%, to 5,010.97, and the S&P 500 dropped 3.68, or 0.17%, to 2,104.42.
13:13 EDTNSC, CSX, UNPRailroad operators trade lower after Kansas City Southern reduces FY15 guidance
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12:17 EDTNSC, UNPOn The Fly: Midday Wrap
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09:04 EDTFDXFedEx weakness creates buying opportunity, says Argus
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March 20, 2015
16:33 EDTFDXStocks end week higher after market reads Fed statement as dovish
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10:45 EDTFDXFedEx management to meet with Stephens
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07:10 EDTUNPUnion Pacific weakness a buying opportunity, says UBS
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06:13 EDTFDXFedEx says paid $1.4B for GENCO, $43M for Bongo international
In its quarterly report with the SEC, FedEx says, "During 3Q15, we acquired two businesses, expanding our portfolio in e-commerce and supply chain solutions. On January 30, we acquired GENCO Distribution System for $1.4B, which was funded using a portion of the proceeds from our January debt issuance. In addition, on December 16, 2014, FedEx acquired Bongo International, LLC for $42M in cash from operations. These acquisitions will allow us to enter new markets, as well as strengthen our current service offerings to existing customers. We expect that the goodwill of $40M associated with our Bongo acquisition will be entirely attributable to our FedEx Express reporting unit. We expect that the goodwill of approximately $1.1B associated with our GENCO acquisition will be primarily attributable to our FedEx Ground and FedEx Express reporting units."
March 19, 2015
07:38 EDTFDXFedEx execution solid, outlook still upbeat, says Oppenheimer
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07:17 EDTFDXFedEx soft Q4 guidance explainable, says UBS
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07:17 EDTCNWStephens to hold a conference
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06:01 EDTFDXFedEx CEO doesn't see Uber as a threat, WSJ reports
FedEx CEO Fred Smith says that while he believes Uber is "terrific," he doesn't see the ride-sharing start-up ever becoming a major threat in package delivery, The Wall Street Journal reports. Reference Link
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