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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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April 13, 2014
19:35 EDTFDXNTSB launches go-team to investigate bus and truck collision in California
In response to the bus crash involving a FedEx truck last week, the NTSB issued the following press release on its website on Friday: The National Transportation Safety Board has launched a go-team to investigate a crash involving a truck that crossed over the center median of Interstate 5 and collided with a motor coach in Orland, California. Highway Safety Investigator Robert Accetta will serve as the investigator-in-charge, leading a multi-disciplinary team of NTSB personnel. NTSB Board Member Mark Rosekind is accompanying the team and will serve as the principal spokesperson during the on-scene phase of the investigation. Reference Link
April 11, 2014
10:29 EDTFDXTen people die after FedEx truck crashes into bus, USA Today says
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April 9, 2014
07:36 EDTFDXCFA Society of Cleveland to hold a luncheon meeting
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April 2, 2014
12:22 EDTFDXFAA says Amazon.com pays $91,000 civil penalty
Amazon.com (AMZN) paid in full a $91,000 civil penalty that the U.S. Department of Transportation’s Federal Aviation Administration had proposed against the Seattle, Wash. company for violating Department of Transportation Hazardous Materials Regulations. On September 16, 2013, Amazon employees improperly shipped a package containing flammable liquid adhesive by air on Federal Express (FDX) from Whitestown, Ind., to Boulder, Colo. FedEx employees in Boulder discovered a gallon container of the adhesive was leaking.The adhesive is classified as a hazardous material under Department of Transportation regulations. Amazon offered the shipment without the requisite shipping papers or emergency response information, and did not mark, label, or properly package the shipment. Amazon also failed to properly train its employees in preparing HazMat packages for shipment by air. The FAA issued the proposed civil penalty letter in late February.

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