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Stock Market & Financial Investment News

News Breaks
December 12, 2012
06:52 EDTFDXFedEx downgraded to Outperform from Strong Buy at Raymond James
Raymond James downgraded FedEx based on reduced earnings visibility given expectations for a cautious tone to guidance. Price target lowered to $100 from $106.
News For FDX From The Last 14 Days
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January 26, 2015
05:33 EDTFDXUPS downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded UPS (UPS) to Equal Weight citing a lack of earnings growth following the company's negative preannouncement. The firm says competition with FedEx (FDX) is driving lower prices and profitability. It dropped its price target for UPS shares to $105 from $116.
January 23, 2015
16:32 EDTFDXOn The Fly: Closing Wrap
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12:33 EDTFDXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The futures dipped this morning after UPS (UPS) pre-announced that its quarterly earnings would miss Street estimates. The earnings miss dragged other transportation names lower. ECONOMIC EVENTS: In the U.S., Markit's preliminary January manufacturing PMI fell to 53.7 from 53.9 previously, versus expectations for a reading of 54.0. Existing home sales rebounded 2.4% to a 5.04M rate in December, which was below the consensus forecast for a 3% increase. The leading indicators rose 0.5% to 121.1 in December, topping expectations for a rise of 0.4%. COMPANY NEWS: Shares of UPS plunged over 9% after the shipping giant warned that its Q4 adjusted EPS is now expected to be $1.25, below the consensus forecast of $1.47. "UPS invested heavily to ensure we would provide excellent service during peak when deliveries more than double. Though customers enjoyed high quality service, it came at a cost to UPS. Going forward, we will reduce operating costs and implement new pricing strategies during peak season,” said CEO David Abney. Subsequently, its peer, FedEx (FDX), reaffirmed its FY15 EPS forecast of $8.50-$9.00. The outlook compares to a consensus forecast of $8.97. FedEx shares, which were briefly halted for the announcement, are down 2% afterward... Shares of McDonald’s (MCD) slid about 1% near noon after its earnings miss, though the world’s largest restaurant chain's same-store sales declined less than analysts expected. Same-store sales in the company's fiscal fourth quarter declined 0.9%, versus the Consensus Metrix analysts' estimate for a 1.5% drop. Of note, McDonald’s U.S. same-store sales had their first monthly gain in more than a year in December, having risen 0.4%. MAJOR MOVERS: Among the notable gainers was Starbucks (SBUX), which rose 6.5% and had several research firms issue upbeat notes after the company reported in-line results last night. At least three firms responded to the report by raising their price targets on the shares. Also higher was Array BioPharma (ARRY), which jumped 38% after announcing that it has reached a definitive agreement with Novartis (NVS) to acquire worldwide rights to encorafenib, a BRAF inhibitor currently in Phase 3 development. Among the noteworthy losers was Avon Products (AVP), which dropped 11% after Wells Fargo downgraded the stock to Market Perform from Outperform after shares rallied yesterday over 14% following a report that the company has held talks with TPG Capital about a possible deal. Wells says it leveraged buyout math suggests a takeout of the entire company is unlikely. Also lower was DreamWorks Animation (DWA), which fell 9% after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and cut about 500 jobs. INDEXES: Near midday, the Dow was down 42.58, or 0.24%, to 17,771.40, the Nasdaq was up 9.68, or 0.2%, to 4,760.08, and the S&P 500 was down 3.40, or 0.16%, to 2,059.75.
10:35 EDTFDXFedEx resumes, down 2.3% after reaffirming FY15 outlook
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10:28 EDTFDXFedEx backs FY15 outlook after UPS issues profit warning
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10:24 EDTFDXFedEx backs FY15 EPS 8.50-$9.00, consensus $8.97
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January 22, 2015
14:14 EDTFDXFedEx Freight drivers reject Teamsters in W. Va
FedEx Freight announced that union representation elections were held at its locations in Parkersburg and Charleston, West Virginia, last week resulting in two more losses for the union. Drivers in both locations voted against representation by the Teamsters union and in favor of continuing their direct relationship with FedEx Freight. The Teamsters union also withdrew another election petition the day before the scheduled vote, this time at the Clarksburg, West Virginia, location. “We are proud of our drivers in West Virginia for making informed decisions,” said Pat Reed, executive vice president and chief operating officer, FedEx Freight. “We continue to work with our team to ensure that FedEx Freight remains a great place to work.”
January 20, 2015
07:39 EDTFDXUPS FedEx to benefit from lower oil prices, says Bernstein
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