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Stock Market & Financial Investment News

News Breaks
March 18, 2014
12:48 EDTFDXFedEx March volatility increases into Q3 and outlook
FedEx March call option implied volatility is at 37, April is at 24, May, July and October is at 21; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results before the market open on March 19.
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August 28, 2014
17:30 EDTFDXFedEx awarded $617.33M government contract
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August 27, 2014
12:47 EDTFDXJudge panel appeals FedEx Ground ruling
FedEx Ground, a subsidiary of FedEx, reports that a decision by a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit reversed previous rulings by the District Court for the Northern District of Indiana in three class action cases involving mostly former independent contractors for FedEx Ground. The court held that those independent contractors operating in California from 2000-2007 and Oregon from 1999-2009 were employees according to the panel’s interpretation of state laws. The model that the court reviewed is no longer in use. Since 2011, FedEx Ground has only contracted with incorporated businesses, which treat their drivers as their employees. FedEx Ground will seek review of these decisions, including review by the entire Ninth Circuit. FedEx Ground Senior Vice President and General Counsel Cary Blancett said, "We fundamentally disagree with these rulings, which run counter to more than 100 state and federal findings, including the U.S. Court of Appeals for the D.C. Circuit, upholding our contractual relationships with thousands of independent businesses. The operating agreement on which these rulings are based has been significantly strengthened in recent years, and we look forward to continuing to work with service providers across our network to provide customers the industry’s most reliable service.”

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