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Stock Market & Financial Investment News

News Breaks
January 17, 2014
12:12 EDTJBHT, UPS, FDX, ABFS, CNWUPS, 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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September 2, 2015
07:45 EDTFDXFedEx risk/reward favorable into Q1 results, says Deutsche Bank
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September 1, 2015
06:06 EDTCNWMenlo Logistics announces partnership with Prologis
Menlo Logistics, a subsidiary of Con-way (CNW), announced a build-to-suit agreement with Prologis (PLD) for a new 70,000-square-meter regional logistics facility in Eindhoven, the Netherlands. The facility will be located at the Acht industrial park in Eindhoven, adjacent to the A2/N2 Eindhoven ring road, which offers direct access to Belgium and Germany, as well as Amsterdam to the north.
August 30, 2015
21:50 EDTFDXFedEx pilots union leadership approves tentative agreement
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August 28, 2015
09:04 EDTJBHTJ.B. Hunt best way to play coming intermodal rebound, says BMO Capital
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August 27, 2015
16:41 EDTUPSUPS, Cargojet enter long-term air cargo services agreement
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August 23, 2015
17:40 EDTFDXJudge sends FedEx driver lawsuit back to trial court, Bloomberg says
A federal appeals court has sent a dispute over the employment status of FedEx drivers back to trial court, saying a jury must decide whether the drivers are independent contractors or full-fledged employees, reports Bloomberg. The verdict gives FedEx another chance to defend its practices, according to the report. Reference Link
14:45 EDTCNWCon-way employees at Portland facility reject union representation
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August 21, 2015
06:34 EDTFDXFedEx to launch EUR 8.00 bid for TNT Express on Aug. 24
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August 20, 2015
17:52 EDTFDX, UPSUPS pilots President issues statement on FedEx/ALPA tentative agreement
The following statement is from Captain Robert Travis, President of the Independent Pilots Association regarding the tentative pilot labor agreement between FedEx (FDX) and ALPA: "We congratulate our pilot peers and FedEx on reaching a new tentative collective bargaining agreement. While we have not seen the details, the IPA will refrain from commenting on the merits of the tentative agreement until the ALPA ratification process has been completed. If approved, however, the FedEx pilot contract will bring labor peace to our largest competitor. In sharp contrast, UPS (UPS) management has created a bitter standoff with its pilot employees, unnecessarily dragging out contract talks for four years. UPS must not allow itself to be left behind by FedEx. The IPA calls on UPS management to work with its pilots to expeditiously achieve an agreement."
17:33 EDTFDXFedEx reaches tentative agreement with Air Line Pilots Association
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12:05 EDTFDXBoeing reports eight new orders in weekly update
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08:18 EDTUPSUPS management to meet with UBS
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