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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.
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February 9, 2016
12:50 EDTFDXAmazon working on global delivery business to challenge Alibaba, Bloomberg says
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07:45 EDTFDXUPS, FedEx face limited risk from Amazon initiative, says Bernstein
After Amazon (AMZN) launched a network of 23 sortation centers, Bernstein says that Amazon is carrying out postal injection operations, not building a ground delivery system. Moreover, Amazon's postal injection system is inferior to those of FedEx and UPS, and can only operate in the most dense areas, according to Bernstein, The firm keeps an Outperform rating on UPS and a Market Perform rating on FedEx.
February 2, 2016
05:50 EDTFDXBrazil approves FedEx's proposed acquisition of TNT Express, Reuters says
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