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Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:42 EDTFDX, UPSFedEx hits 52-week high after results top expectations
Shares of package delivery company FedEx (FDX) hit a fresh 52-week high after the company's fourth quarter results beat analysts' consensus estimates. WHAT'S NEW: This morning, FedEx reported Q4 earnings per share of $2.46 and revenue of $11.8B, topping analysts' consensus estimates of $2.36 and $11.66B, respectively. The company posted Express segment revenue of $7B vs. $6.98B last year, Freight segment revenue of $1.55B-$1.39B last year and Ground segment revenue of $3.01B vs. $2.78B last year. The company said Ground average daily volume grew 8% in the quarter, primarily driven by growth in e-commerce. WHAT'S NOTABLE: The company forecast fiscal 2015 EPS of $8.50-$9.00, compared to consensus of $8.76. This outlook assumes continued moderate economic growth. Capital spending for the year is expected to be around $4.2B. CFO Alan B. Graf, Jr. expects FY15 results to benefit from "base performance improvement and ongoing execution of our profit improvement initiatives at FedEx Express, continued profitable growth at FedEx Ground and FedEx Freight, and our share repurchase program. We remain committed to improving earnings, cash flows, returns on invested capital and returns to shareowners, with the most recent example of the latter being our announced 33% increase in the quarterly dividend." On its earnings conference call, FedEx said it anticipates revenue and earnings growth from ongoing improvements in all of the company's transportation segments with moderate global economic growth driving volume and yield increases. Its goal is to achieve annual double-digit operating margins for the total company in the near future. The company sees U.S. GDP growth for calendar year 2014 of 2.2%. FedEx expects to complete its share repurchase program this year and said it is "always" looking for acquisitions. PRICE ACTION: In late morning trading, FedEx rose $6.53, or about 4.7%, to $146.86 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $147.90. Including today's advance, the stock is up approximately 47% over the past 12 months. OTHERS TO WATCH: FedEx's main competitor, United Parcel Service (UPS), is up about 0.5% to $102.12.
News For FDX;UPS From The Last 14 Days
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October 20, 2014
16:39 EDTUPSUPS 2015 rates for ground, air, international,freight, air freight to be up 4.9%
UPS released new published rates for 2015. UPS Ground, Air, International, UPS Freight, and UPS air freight rates within and between the U.S., Canada, and Puerto Rico will increase an average of 4.9%. The increase is effective Dec. 29.
08:25 EDTFDXFedEx management to meet with UBS
Meeting to be held in Melbourne, Australia on October 20 hosted by UBS.
October 13, 2014
06:02 EDTFDXFedEx sued by EEOC for disability discrimination
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October 8, 2014
10:06 EDTFDXStephens transportation analysts hold an analyst/industry conference call
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October 7, 2014
08:06 EDTUPSUPS acquires i-parcel, terms not disclosed
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October 6, 2014
07:12 EDTFDXThe MedTech Conference holds a conference
AdvaMed 2014 is being held in Chicago on October 6-8.
06:30 EDTFDXFedEx confirms, responds to Kansas Supreme Court decision
FexEx confirmed the Kansas Supreme Court issued a decision finding that a class of mostly former contractors in the state of Kansas should be considered employees under the Kansas Wage Payment Act, contrary to previous rulings by the United States District Court for the Northern District of Indiana. The decision applies to those independent contractors operating in Kansas from 1998-2007. The model that the court reviewed is no longer in use. FedEx said, "We fundamentally disagree with this ruling and are committed to protecting the rights of thousands of independent business owners to continue owning and operating their own businesses. More than 100 state and federal decisions – including that of the U.S. Court of Appeals for the D.C. Circuit – have upheld our contractual relationships with independent businesses. At this time we are considering available options in response to the court’s decision."

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