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News Breaks
June 19, 2014
04:55 EDTFDX, FDXFedEx management to meet with Oppenheimer
Meeting to be held in Europe on June 26 hosted by Oppenheimer.
News For FDX From The Last 14 Days
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December 17, 2014
17:29 EDTFDXBuy FedEx on the dip, Barron's says
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16:27 EDTFDXOn The Fly: Closing Wrap
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15:50 EDTFDXFedEx Express reports Q2 revenue $7.02B, up 3% from year ago
FedEx Ground reported earlier its Q2 revenue at $3.06B, up 8% from last year. FedEx Freight reports Q2 revenue $1.59B, up 11% from last year.
15:44 EDTFDXFedEx price target raised to $208 from $184 at Macquarie
Macquarie said it was disappointed that FedEx did not raise its fiscal year guidance, but still believes the company's free cash flow generation is underappreciated and that the pressure on the stock following its report is overdone. The firm raised its price target on FedEx to $208 from $184 following its Q2 earnings report and maintains its Outperform rating on the shares.
11:37 EDTFDXFedEx falls after Q2 results, FY15 EPS outlook miss analysts' estimates
Shares of package delivery company FedEx (FDX) are sinking after the company's second quarter results and fiscal year 2015 profit outlook missed analysts' consensus estimates. WHAT'S NEW: This morning, FedEx reported Q2 EPS of $2.14 and revenue of $11.9B, trailing analysts' consensus estimates of $2.22 and $11.98B, respectively. Share repurchases benefited Q2 earnings by 16c per share, FedEx said. The company reported Q2 operating income of $1.01B, up 22% from $827M last year, and operating margin of 8.5%, up from 7.3% a year ago. FedEx said that operating income and margin increased primarily due to higher volumes and base yields in all three transportation segments. Results for the quarter also included benefits from the company's profit improvement programs, lower pension expense and a slightly positive net impact from fuel, and FedEx said these benefits were partially offset by higher aircraft maintenance expense due to the timing of aircraft maintenance events. FedEx said Express revenue increased 7% from a year ago to $7.02B, Ground revenue increased 8% from a year ago to $3.06B and Freight revenue up 11% from last year to $1.59B. Looking ahead, FedEx reaffirmed its FY15 EPS view of $8.50-$9.00, trailing analysts' estimates of $9.12. The company's outlook assumes continued moderate economic growth and a modest net benefit from fuel. The capital spending forecast for FY15 remains $4.2B. WHAT'S NOTABLE: On its earnings conference call, FedEx lowered its 2015 global economic growth view to 3% from 3.1%, but said it still sees U.S. GDP growth of 3.1% in 2015. The company said some customer volume was limited during the West Coast port slowdown, and that it is a "bigger deal than people think." FedEx said fuel surcharge tables will be reviewed in February 2015, and that the company still intends to repurchase shares, but possibly at a slower pace. PRICE ACTION: In late morning trading, FedEx fell $8.74, or about 5%, to $165.52 on more than twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 19% over the past 12 months. OTHERS TO WATCH: FedEx’s main competitor, United Parcel Service (UPS), is down about 2.4% on the session.
09:22 EDTFDXOn The Fly: Pre-market Movers
HIGHER: Auspex Pharmaceuticals (ASPX), up 83.1% after Phase 3 trial of SD-809 met primary efficacy endpoint... Volcano (VOLC), up 55.3% after Philips (PHG) announced it will acquire the company for $18.00 per share... Paramount Gold and Silver (PZG), up 35.9% after announcing a merger agreement with Coeur Mining... Cerus (CERS), up 17.8% after FDA approves Intercept Blood System... American Apparel (APP), up 15.5% after terminating Dov Charney for cause... TASER (TASR), up 6.1% after LAPD purchases 860 AXON body-worn video cameras... Idera Pharmaceuticals (IDRA), up 5.9% after being called a top 2015 small cap pick at Piper Jaffray... Kandi Technologies (KNDI), up 7.5% after selling 1,000 electric vehicles to Chengdu City... Stillwater Mining (SWC), up 2.7% after being upgraded to Buy from Neutral at Goldman. DOWN AFTER EARNINGS: FedEx (FDX), down 3.5%... Joy Global (JOY), down 1.7%. ALSO LOWER: POZEN (POZN), down 13.1% after receiving a second complete response letter from the FDA for Yosprala... Cliffs Natural (CLF), down 13.1% after price target cut to $1 from $10 at Credit Suisse... Coeur Mining (CDE), down 2.8% following merger agreement with Paramount Gold and Silver.
09:05 EDTFDXFedEx says West Coast port slowdown 'bigger deal than people think'
09:02 EDTFDXFedEx says will still buyback shares, possibly at lower pace
08:51 EDTFDXFedEx lowers 2015 global economic growth view to 3% from 3.1% prior view
FedEx still sees U.S. GDP growth of 3.1% in 2015. FedEx says some customer volume limited during West Coast port slowdown. FedEx says fuel surcharge tables to be reviewed in February, 2015. Comments from Q2 earnings conference call.
07:32 EDTFDXFedEx says Q2 results included benefits from profit improvement programs
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07:31 EDTFDXFedEx reaffirms FY15 EPS view $8.50-$9.00
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07:30 EDTFDXFedEx reports Q2 EPS $2.14, consensus $2.22
Reports Q2 revenue $11.9B, consensus $11.98B. Share repurchases benefited second quarter earnings by 16c per diluted share.
December 16, 2014
16:01 EDTFDXFedEx acquires Bongo International
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15:42 EDTFDXNotable companies reporting before tomorrow's open
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15:26 EDTFDXFedEx December 175 straddle priced for 3.6% movement into Q2
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15:11 EDTFDXFedEx technical comments ahead of results
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09:45 EDTFDXFedEx provides short-term trade opportunity, says Bernstein
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December 15, 2014
17:03 EDTFDXFedEx announces acquisition of GENCO
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09:24 EDTFDXFedEx says higher e-commerce purchases increases residential deliveries
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08:53 EDTFDXFedEx December volatility increases into Q2 and outlook
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