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Stock Market & Financial Investment News

News Breaks
January 17, 2014
12:12 EDTABFS, CNW, JBHT, UPS, FDXUPS, 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 1, 2015
11:01 EDTUPSUPS to build 15 natural gas fueling stations, increase CNG fleet
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March 27, 2015
10:03 EDTCNWOn The Fly: Analyst Initiation Summary
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06:30 EDTCNWCon-way initiated with an Outperform at Macquarie
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March 26, 2015
10:04 EDTCNWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alere (ALR) upgraded to Neutral from Sell at Goldman... Canadian National (CNI) upgraded to Outperform from Market Perform at Cowen... Charles Schwab (SCHW) upgraded to Overweight from Underweight at Barclays... Con-way (CNW) upgraded at Stifel... Dr Pepper Snapple (DPS) upgraded to Buy from Hold at Stifel... Francesca's (FRAN) upgraded to Neutral from Sell at Goldman... GoPro (GPRO) upgraded to Outperform from Neutral at RW Baird... PartnerRe (PRE) upgraded to Outperform from Market Perform at BMO Capital... Rice Energy (RICE) upgraded to Overweight from Equalweight at Capital One... Saia, Inc. (SAIA) upgraded at Stifel... Sibanye Gold (SBGL) upgraded to Outperformer from Sector Performer at CIBC.
07:38 EDTCNWCon-way upgraded at Stifel
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06:21 EDTCNWCon-way upgraded to Buy from Hold at Stifel
March 23, 2015
09:04 EDTFDXFedEx weakness creates buying opportunity, says Argus
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March 20, 2015
16:33 EDTFDXStocks end week higher after market reads Fed statement as dovish
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10:45 EDTFDXFedEx management to meet with Stephens
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06:13 EDTFDXFedEx says paid $1.4B for GENCO, $43M for Bongo international
In its quarterly report with the SEC, FedEx says, "During 3Q15, we acquired two businesses, expanding our portfolio in e-commerce and supply chain solutions. On January 30, we acquired GENCO Distribution System for $1.4B, which was funded using a portion of the proceeds from our January debt issuance. In addition, on December 16, 2014, FedEx acquired Bongo International, LLC for $42M in cash from operations. These acquisitions will allow us to enter new markets, as well as strengthen our current service offerings to existing customers. We expect that the goodwill of $40M associated with our Bongo acquisition will be entirely attributable to our FedEx Express reporting unit. We expect that the goodwill of approximately $1.1B associated with our GENCO acquisition will be primarily attributable to our FedEx Ground and FedEx Express reporting units."
March 19, 2015
07:38 EDTFDXFedEx execution solid, outlook still upbeat, says Oppenheimer
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07:17 EDTFDXFedEx soft Q4 guidance explainable, says UBS
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07:17 EDTCNWStephens to hold a conference
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06:01 EDTFDXFedEx CEO doesn't see Uber as a threat, WSJ reports
FedEx CEO Fred Smith says that while he believes Uber is "terrific," he doesn't see the ride-sharing start-up ever becoming a major threat in package delivery, The Wall Street Journal reports. Reference Link

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