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News Breaks
January 17, 2014
12:12 EDTFDX, ABFS, CNW, JBHT, UPSUPS, Con-way warnings weigh on transportation stocks
Shares of a number of transportation companies are dropping after two of the companies in the sector, UPS (UPS) and Con-way (CNW), pre-announced weaker than expected results. WHAT'S NEW: UPS and Con-way - which provide transportation and supply chain management services - both said that they faced challenges over the last several weeks of the fourth quarter. UPS, which pre-announced its results this morning, stated that it was hurt by the compressed holiday shopping season. The company said the "unprecedented" level of online shopping featured a surge of orders at the very end of the season. As a result of these last minute orders, UPS stated that it had to take "extraordinary measures" that included the deployment of additional equipment and people. UPS estimated that its fourth quarter earnings per share would be $1.25, versus analysts' consensus estimate of $1.43. The company predicted that its fiscal 2013 earnings per share, excluding certain items, would be $4.57, versus the consensus estimate of $4.75. Meanwhile, Con-way said that its expenses generated by employee benefits and cargo claims were higher than expected in the fourth quarter, particularly during December. In addition, its operating efficiencies were lower than anticipated, primarily due to poor weather late in the quarter, the company stated. Con-way estimated that its fourth quarter earnings per share would "approximate" 21c, versus the consensus estimate of 39c. PRICE ACTION: In late morning trading, UPS fell 1.9% to $98.50 and FedEx (FDX) lost 0.5% to $141. Meanwhile, Con-way shares fell 3% to $40, trucker J.B. Hunt (JBHT) dropped 1.15% to $77.60, and another trucking company, Arkansas Best (ABFS), sank 3.5% to $34.10.
News For UPS;CNW;FDX;JBHT;ABFS From The Last 14 Days
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April 27, 2015
15:22 EDTJBHTTrucking stocks under pressure after driver strike on West Coast
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15:04 EDTUPSNotable companies reporting before tomorrow's open
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14:18 EDTUPSUPS May weekly volatility elevated into Q1 and outlook
UPS May weekly call option implied volatility is at 34, May is at 17, June is at 15, July is at 14; compare to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 28.
13:20 EDTUPSEarnings Watch: UPS sees best FY15 EPS growth coming in Q1, Q4
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13:05 EDTUPSUPS technical commentary ahead of earnings
A key technical feature, more easily seen on a 2-year chart, is an irregular potential bearish head and shoulders pattern. The pattern began forming in August of last year. The neckline is at the $95 area, not far from where shares are currently trading. If there is bearish news, a breakdown below $95 would be required to trigger the pattern. Downside potential for the pattern over time would be to the $77.50 area. It should be noted that a move below $90 would break the long-term uptrend in the shares. If the news is bullish, first resistance would be at the 50-day moving average at $99.03. On a move above the 50-day, next resistance levels to watch as potential upside objectives would be at $102.51, $107.34, and $109.40.
April 22, 2015
16:33 EDTCNWCon-way Freight employees in Buffalo reject Teamsters union representation
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07:24 EDTFDXFedEx management to meet with Deutsche Bank
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April 21, 2015
07:29 EDTFDXFedEx management to meet with Deutsche Bank
Meetings to be held in Toronto/Montreal on April 21 hosted by Deutsche Bank.
April 20, 2015
11:04 EDTCNWCon-way Truckload invests in 635 tractors
Con-way Truckload, a subsidiary of Con-way, announced its purchase of 635 new, twin-screw tractors in a replacement cycle that will maintain the company's 2,500-tractor fleet as one of the newest and most technically advanced in the truckload industry. This purchase of 575 new Kenworth T680s and 60 new Freightliner Cascadias, which are being delivered into the fleet in a phased deployment starting this month through November, represents an increase from 23% to 48% in the number of trucks outfitted with AMTs.
10:00 EDTJBHTOn The Fly: Analyst Upgrade Summary
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07:50 EDTFDXFedEx management to meet with Deutsche Bank
Meetings to be held in Memphis/Toronto on April 20 hosted by Deutsche Bank.
07:29 EDTJBHTJ.B. Hunt upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill upgraded J.B. Hunt two notches to Buy from Underperform and increased its price target to $101 form $79. The firm said J.B. Hunt is benefiting from diversification following stronger than expected Q1 Truckload and Dedicated results and margin strength in three out of four segments.
April 16, 2015
11:07 EDTFDXBoeing reports one new order in weekly update
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April 14, 2015
09:37 EDTFDXPlug Power says FedEx rolling out GenDrive powered cargo tuggers
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08:17 EDTJBHTJ.B. Hunt reports Q1 EPS 78c, consensus 72c
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07:10 EDTFDX, UPSAviation Week to hold a conference
MRO Americas 2015 is being held in Miami Beach on April 14-16.
April 13, 2015
15:38 EDTJBHTNotable companies reporting before tomorrow's open
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