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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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July 18, 2014
16:20 EDTFDXOn The Fly: Closing Wrap
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11:35 EDTUPSUPS expands early morning delivery coverage
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09:32 EDTFDXFedEx slips in early trading, levels to watch
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06:33 EDTFDXFedEx says loss from DOJ suit 'could be material' if convicted
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06:30 EDTFDXFedEx says innocent of charges brought by Justice Department
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July 17, 2014
18:54 EDTFDXFedEx says innocent of drug charges, will plead not guilty, Bloomberg reports
18:52 EDTFDXFedEx indicted for its role in distributing controlled substances
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July 16, 2014
06:18 EDTFDXTNT Express receives Statement of Objections from French Competition Authority
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06:16 EDTFDXFedEx says France investigating anticompetitive behavior
On June 30, FedEx said it received a Statement of Objections from the French Competition Authority addressed to FedEx Express France, formerly known as TATEX, regarding an investigation by the FCA into anticompetitive behavior that is alleged to have occurred primarily in the framework of trade association meetings that included the former general managers of TATEX prior to our acquisition of that company in July 2012. FedEx says that "Given the early stage of this matter, we cannot yet determine the amount or range of potential loss; however, it is reasonably possible that it could be material."
July 15, 2014
10:32 EDTUPSUPS increases presence in Brazil by opening 9 facilities
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July 14, 2014
17:21 EDTFDXFedEx says DoJ to pursue asbestos related matter as criminal case
FedEx revealed in a regulatory filing, that on January 14, the U.S. Department of Justice, DOJ, issued a Grand Jury Subpoena to FedEx Express relating to an asbestos matter previously investigated by the U.S. Environmental Protection Agency. On May 1, the DOJ informed us that it had determined to continue to pursue the matter as a criminal case, citing seven asbestos-related regulatory violations associated with removal of roof materials from a hangar in Puerto Rico during cleaning and repair activity, as well as violation of waste disposal requirements. Loss is reasonably possible, however, the amount of any loss is expected to be immaterial.

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