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Stock Market & Financial Investment News

News Breaks
January 6, 2014
09:14 EDTFDXFedEx announces $2B senior notes offering, accelerated share buyback program
FedEx announced that it intends to offer, subject to market and other conditions, $2B of senior unsecured notes pursuant to an effective registration statement previously filed with the SEC. FedEx intends to use proceeds from the offering to make payments under accelerated share repurchase agreements with Goldman, Sachs & Co. and JPMorgan Chase Bank, National Association, London Branch, which are part of the company’s previously announced share repurchase program. The effectiveness of the ASRs is conditioned upon the closing of the notes offering. Under the terms of the ASRs, FedEx has agreed to repurchase an aggregate of $2B of its common stock from the banks, with an initial delivery of approximately 11.4 million shares based on current market prices. The final number of shares to be repurchased under each ASR will be based on a discount to the volume-weighted average stock price for Rule 10b-18 eligible transactions in FedEx’s common stock during the term of the relevant transaction. Purchases under the ASRs are expected to be completed prior to the end of FedEx’s current fiscal year on May 31. FedEx expects to continue to repurchase shares in the open market from time to time, subject to market and other conditions.
News For FDX From The Last 14 Days
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May 19, 2015
07:22 EDTFDXUPS 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
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
May 13, 2015
05:35 EDTFDXFedEx provides update on offer to acquire TNT Express
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May 12, 2015
07:37 EDTFDXOppenheimer to hold a conference
10th Annual Industrial Growth Conference is being held in New York on May 12-13 with webcasted company presentations to begin on May 12 at 8:15 am; not all company presentations may be webcasted. Webcast Link

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