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Stock Market & Financial Investment News

News Breaks
March 19, 2014
09:17 EDTFDXFedEx says continues to take share within global express market
Says global express market continues to grow and FedEx continues to take share in growing market.
News For FDX From The Last 14 Days
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April 8, 2015
08:51 EDTFDXEU poses signficant risk to FedEx deal, says RBC Capital
After FedEx agreed to buy TNT, RBC Capital is upbeat on the deal, but says that EU regulatory approval poses a significant risk to the closing of the transaction. The firm expects FedEx's stock to remain range bound until investors become more convinced that the deal will be approved or that the company can deliver on its profit targets,. The firm keeps a Sector Perform rating on FedEx.
07:50 EDTFDXFedEx management to meet with Deutsche Bank
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07:13 EDTFDXFedEx acquisition has high execution risk, says Bernstein
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April 7, 2015
16:18 EDTFDXOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory, extending their gains from yesterday. The economic calendar was relatively quiet and the volume was light as investors moved to the sidelines ahead of the start of the first quarter earnings season, which kicks off tomorrow after the close with Alcoa's (AA) report. A late day slide saw the major averages give up their gains, leaving the Dow, Nasdaq and S&P 500 a bit below where they had started the day. ECONOMIC EVENTS: In the U.S., the JOLTs report showed job openings rose 168K to 5.13M in February, topping the consensus forecast for about 5M opening. Consumer credit climbed $15.5B in February, versus the expectation for consumers to have added $12.5B in new credit. In Europe, Markit's composite PMI for the eurozone came in at 54.0, which was down slightly from the flash reading of 54.1 but up from 53.3 in February and matched the prior peak seen in April of last year. Elsewhere globally, the central banks of Australia and India left their respective key interest rates unchanged, as expected. COMPANY NEWS: Shares of FedEx (FDX) advanced $4.49, or 2.69%, to $171.16 after the shipper announced a conditional deal to acquire TNT Express (TNTEY) for EUR 8.00 per share in a transaction valuing the Netherlands-based express delivery company at an implied equity value of about $4.8B. The company hopes it is more successful in its acquisition attempt than rival UPS (UPS), which had agreed a number of years ago to buy TNT for EUR 9.50 per share. UPS pulled out of its planned purchase after its proposed deal for TNT was blocked by regulators. MAJOR MOVERS: Among the notable gainers was Axalta Coating Systems (AXTA), which gained $2.78, or 9.81%, to $31.11 after an affiliate of Warren Buffett's Berkshire Hathaway (BRK.A) agreed to buy 20M of Axalta’s common shares for an aggregate purchase price of $560M, or $28.00 per share, from The Carlyle Group (CG). Also higher was Informatica (INFA), which advanced $1.96, or 4.28%, to $47.79 after agreeing to be acquired by the Permira funds and Canada Pension Plan Investment Board for approximately $5.3B, or $48.75 in cash per share. The official announcement follows recent stories from Reuters that the company was working on a deal with a private equity buyer. Among the noteworthy losers was Ocular Therapeutix (OCUL), which dropped $7.25, or 18.93%, to $31.05 after reporting that the company’s second of two Phase 3 clinical trials evaluating the safety and efficacy of its lead product candidate, OTX-DP, met only one of the study’s two primary efficacy endpoints. Also lower were shares of Woodward (WWD), which fell $3.06, or 5.95%, to $48.36 after Jefferies downgraded the stock to Hold from Buy and set a $52 price target on the shares, saying FY15 is another transition year for the company. INDEXES: The Dow slipped 5.43, or 0.03%, to 17,875.42, the Nasdaq lost 7.08, or 0.14%, to 4,910.23, and the S&P 500 declined 4.29, or 0.21%, to 2,076.33.
12:58 EDTFDXOn The Fly: Midday Wrap
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09:35 EDTFDXActive equity options trading on open
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09:23 EDTFDXOn The Fly: Pre-market Movers
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09:13 EDTFDXFedEx says does not see competing offer for TNT Express
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09:12 EDTFDXFedEx trades up in pre-market on TNT Express acquisition
The shares are up over 4% to $173.50 in the pre-market. At that price next resistance is at $175.13. Support is at $172.33.
09:05 EDTFDXFedEx says thinks TNT Express a 'wonderful fit everywhere'
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08:57 EDTFDXFedEx says wants to keep growing dividend, will keep buying back stock
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08:56 EDTFDXFedEx says expects to have 'wonderful' FY16
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08:49 EDTFDXFedEx says sees TNT Express 'very accretive' to earnings after FY17
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08:40 EDTFDXTNT Express to hold a conference call
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08:29 EDTFDXFedEx to hold a conference call
Conference call to discuss agreement on an all-cash public offer for TNT Express shares will be held on April 7 at 8:30 am. Webcast Link
07:33 EDTFDXFedEx volatility flat into announcing purchase of TNT Express for about $4.8B
FedEx overall option implied volatility of 20 compares to its 26-week average of 21 according to Track Data, suggesting non-directional price movement into announcing the purchase of Dutch parcel-delivery firm TNT Express for about $4.8B to expand in Europe.
07:18 EDTFDXFedEx acquisition of TNT Express a good strategic fit, says UBS
UBS said FedEx's (FDX) proposed acquisition of TNT Express (TNTEY) is a good strategic fit, as it increases FedEx's presence in Europe, adds scale where there are complementary services, and provides for operations synergy potential. UBS reiterated its Buy rating and $195 price target on FedEx shares.
06:25 EDTFDXTNT Express expects EU to approve FedEx deal, Reuters reports
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05:16 EDTFDXFedEx to acquire TNT Express for EUR 8.00 per share
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05:11 EDTFDXFedEx to acquire TNT Express for EUR 8.00 per share
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