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News Breaks | | | | October 10, 2012 | | 05:33 EDT |  | FDX | FedEx targets $1.7B in annual profit improvement by end of FY16
FedEx announced programs targeting annual profitability improvement of $1.7B during the next three years, with a significant portion of the benefits achieved by FY15. These profit improvement initiatives do not include ongoing base profit improvements at FedEx Ground and FedEx Freight. FedEx also announced that David F. Rebholz, president and CEO of FedEx Ground, will retire effective May 31, 2013. Rebholz, who will be 60 at the time of his retirement, has led the company’s FedEx Ground operating unit since 2007 and also serves on the Strategic Management Committee of FedEx Corp. A successor will be named at a later date. In a keynote speech to FedEx.’s 2012 Investors and Lenders Meeting, Frederick W. Smith, FedEx chairman, president and CEO, also said the company intended to increase its dividends in years to come. Smith said a significant portion of the profitability improvement will come from cost reductions at FedEx Express and FedEx Services. He added that the profit improvement initiatives, along with the combined strength of FedEx Ground and FedEx Freight, would put FedEx on track to achieving its financial goals. | |
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News For FDX From The Last 14 Days Check below for free stories on FDX the last two weeks. |
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| May 15, 2013 | | 08:02 EDT |  | FDX | FedEx should be bought on pullbacks, says RW Baird
Baird lowered its estimates on FedEx to reflect below consensus Q4 results and guidance. The firm cited continued international airfreight weakness but sees stabilizing signs. Baird remains constructive on the shares citing low investor sentiment and potential for margin improvements. Shares are Outperform rated with a $112 price target. | | | 07:31 EDT | | FDX | FedEx news should improve investor sentiment, says Oppenheimer
After FedEx announced that it anticipates delivering $1.65B of annualized profitability improvement by FY16, Oppenheimer believes that this news, along with a capacity cut and the company's recent win of a major Post Office contract, will improve investor sentiment towards the stock. The firm reiterates an Outperform rating on the shares. | | | May 14, 2013 | | 07:23 EDT |  | FDX | Oppenheimer to host a summit
 Subscribe for More Information | | | May 7, 2013 | | 06:29 EDT | | FDX | FedEx FY14 expectations need to come down, says Citigroup
Citigroup believes consensus expectations for FedEx's FY14 need to come down before the stock can move higher. The firm lowered its FY14 earnings estimate for FedEx to $7.10 from $7.50 citing challenging fundamentals at Express, but keeps a Buy rating on the stock. | |
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