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Stock Market & Financial Investment News

News Breaks
March 19, 2014
11:27 EDTUPS, FDXFedEx shares bounce back despite lowering outlook due to weather
Shares of delivery giant FedEx (FDX) were down in pre-market trading after the company reported lower than expected third quarter revenue and earnings per share and lowered its FY14 outlook. Shares have bounced back and are down just slightly in morning trading as investors appear to be attributing the earnings miss as due to the severe winter weather, as the company explained. WHAT'S NEW: FedEx said that the unusually severe winter storms throughout the third quarter disrupted operations, decreased shipping volume and increased costs and impacted year-over-year operating income by an estimated $125M. For this reason, the company reported lower than anticipated third quarter earnings per share of $1.23, versus analysts' consensus estimate of $1.46. Third quarter revenue of $11.3B missed analysts' expectation of $11.43B. FedEx lowered its fourth quarter and FY14 guidance also due to the weather. FedEx now sees FY14 EPS of $6.55 to $6.80, which compares to the consensus forecast of $6.90 prior to its report. Still, FedEx asserted that the $1.6B profit improvement plan at FedEx Express remains on track despite the near-term impact of weather and that its accelerated stock repurchase program reflects its confidence in achieving its goals. ANALYST OPINION: On March 7, Citigroup lowered its third quarter earnings estimate for FedEx to $1.45 from $1.55, which was below the consensus at that time, to reflect the impact from severe winter weather. Citi believed FedEx's underlying fundamentals held up well in the quarter, however, and it reiterated a Buy rating on the stock. On March 17, Stephens lowered its forecast for FedEx's third quarter earnings per share from $1.72 to $1.34, which was well below the Street consensus, and also cited the extreme winter weather as the culprit. However, Stephens said it would use any weakness in the shares following an earnings miss to add to or start positions and the firm maintained its Overweight rating and $169 price target on the stock. This morning following the report from FedEx, Wells Fargo calculated that management's estimate of the $125M impact of adverse weather equated to about 26c per FedEx share, making the company's adjusted EPS closer to $1.49 than the $1.23 GAAP figure it reported. PRICE ACTION: During morning trading, shares of FedEx were down slightly by 8c, or 0.06%, to $138.49. OTHERS TO WATCH: Shares of FedEx peer United Parcel Service (UPS) were virtually unchanged in morning trading.
News For FDX;UPS From The Last 14 Days
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May 19, 2015
10:44 EDTUPSUPS to settle alleged civil false claims act violations for $25M
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07:22 EDTUPS, FDXUPS having success with pickup points, WSJ says
Driven by the increase in e-commerce deliveries, UPS (UPS) has been combatting failed deliveries by using package pickup points, called UPS Access Points, like local drug stores, reports the Wall Street Journal. As a result UPS, FedEx (FDX), and DHL are investing in new systems aimed at having e-commerce customers collect orders from these pickup points, the Journal adds. Reference Link
May 15, 2015
12:13 EDTFDXThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
12:07 EDTFDXThird Point reports new stakes in Yum! Brands, FedEx, McKesson
10:01 EDTUPSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aspen Technology (AZPN) upgraded to Overweight from Sector Weight at Pacific Crest... Canadian National (CNI) upgraded to Outperform from Sector Perform at Scotia Capital... Connecticut Water (CTWS) upgraded to Outperform from Market Perform at Wells Fargo... Hanesbrands (HBI) upgraded to Buy from Neutral at DA Davidson... Impala Platinum (IMPUY) upgraded to Buy from Neutral at Goldman... Inovalon (INOV) upgraded to Buy from Neutral at Goldman... J.C. Penney (JCP) upgraded to Market Perform at BMO Capital... Sovran Self Storage (SSS) upgraded to Buy from Neutral at UBS... Syngenta (SYT) upgraded to Neutral from Underperform at Exane BNP Paribas... UPS (UPS) upgraded to Buy from Neutral at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at TD Securities... Yum! Brands (YUM) upgraded to Overweight from Neutral at JPMorgan.
06:33 EDTFDXJudge denies FedEx motion on drug charges, Reuters says
A judge denied FedEx's motion to dismiss charges that it was involved in distributing controlled substances, according to Reuters. The company is accused by the Justice Department of shipping packages from illegal online pharmacies, the news service stated. Reference Link
05:46 EDTUPSUPS upgraded to Buy from Neutral at Goldman
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May 14, 2015
13:28 EDTUPSIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:23 EDTUPSUPS May calls active
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May 13, 2015
05:35 EDTFDXFedEx provides update on offer to acquire TNT Express
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