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Stock Market & Financial Investment News

News Breaks
July 9, 2013
10:23 EDTFDX, UPSFedEx strength attributed to activist speculation
The move higher in shares of FedEx (FDX) is being attributed to speculation that the company could be the unidentified target of Bill Ackman's planned new fund. Bloomberg reported yesterday that Ackman's Pershing Square is raising money for a special purpose vehicle to buy the stock of a large U.S. company which operates in one business. Traders are attributing today's move higher in shares of FedEx to speculation that the shipping giant may be the target of Ackman's new fund. FedEx shares are up 4%, or $4.01, to $102.84 in early trading while its peer UPS (UPS) is rallying 1.5%, or $1.35, to $89.70.
News For FDX;UPS From The Last 14 Days
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August 28, 2014
17:30 EDTFDXFedEx awarded $617.33M government contract
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17:29 EDTUPSUPS awarded $617.33M government contract
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10:01 EDTUPSUPS announces $17.5M expansion to Menifee, California facility
UPS announced a $17.5M expansion of its delivery center in Menifee, Calif., to handle increased shipping volume from customers throughout the region. The expansion, which more than doubles the existing space, will open in late September. In addition to expedited package processing capability supported by advanced technology and conveyor systems, the facility will have expanded vehicle parking and an enlarged UPS Customer Center. The expanded space will cover 49,407 square feet and include 10 tractor-trailer doors and room for 108 delivery vehicles.
August 27, 2014
12:47 EDTFDXJudge panel appeals FedEx Ground ruling
FedEx Ground, a subsidiary of FedEx, reports that a decision by a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit reversed previous rulings by the District Court for the Northern District of Indiana in three class action cases involving mostly former independent contractors for FedEx Ground. The court held that those independent contractors operating in California from 2000-2007 and Oregon from 1999-2009 were employees according to the panel’s interpretation of state laws. The model that the court reviewed is no longer in use. Since 2011, FedEx Ground has only contracted with incorporated businesses, which treat their drivers as their employees. FedEx Ground will seek review of these decisions, including review by the entire Ninth Circuit. FedEx Ground Senior Vice President and General Counsel Cary Blancett said, "We fundamentally disagree with these rulings, which run counter to more than 100 state and federal findings, including the U.S. Court of Appeals for the D.C. Circuit, upholding our contractual relationships with thousands of independent businesses. The operating agreement on which these rulings are based has been significantly strengthened in recent years, and we look forward to continuing to work with service providers across our network to provide customers the industry’s most reliable service.”
August 25, 2014
06:19 EDTUPSU.S. DHS warns of 'Backoff' malware, WSJ reports
The Department of Homeland Security is urging all companies to check for a "Backoff" malware infection, which targets cash registers, and said over 1,000 businesses in the U.S. have been affected by the cyberattack, the Wall Street Journal reports. The DHS said Friday that the malware has likely infected many victims who "aren't aware" that they have been compromised. Reference Link
August 20, 2014
16:06 EDTUPSUPS notifies customers of potential data compromise, incident resolution
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