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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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February 27, 2015
09:58 EDTFDXOn The Fly: Analyst Upgrade Summary
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06:24 EDTFDXFedEx upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded FedEx to Outperform to reflect the shift in capex focus towards U.S. Ground Network capacity, a higher margin business and less capital intensive than Express. The firm expects consolidated margins and ROIC to improve should FDX Ground continue its outsized growth. Price target to $203 from $177.
February 26, 2015
06:35 EDTFDXBoeing, FedEx oppose punishing Gulf airlines for alleged subsidies, Reuters says
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February 24, 2015
06:29 EDTFDXCriticism grows against U.S. airline attempts to limit Gulf airlines, WSJ says
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