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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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February 27, 2015
09:58 EDTFDXOn The Fly: Analyst Upgrade Summary
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06:24 EDTFDXFedEx upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded FedEx to Outperform to reflect the shift in capex focus towards U.S. Ground Network capacity, a higher margin business and less capital intensive than Express. The firm expects consolidated margins and ROIC to improve should FDX Ground continue its outsized growth. Price target to $203 from $177.
February 26, 2015
06:35 EDTFDXBoeing, FedEx oppose punishing Gulf airlines for alleged subsidies, Reuters says
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February 24, 2015
06:29 EDTFDXCriticism grows against U.S. airline attempts to limit Gulf airlines, WSJ says
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February 18, 2015
12:28 EDTUPSUPS denies NY AG's allegations, Times Union of Albany reports
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10:52 EDTUPSUPS accused by NY AG of illegally shipping untaxed cigarettes
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February 17, 2015
10:28 EDTUPSUPS spikes higher, retraces some gains
Price was last at $102.47, off the earlier spike high at $102.82 which is now resistance. Next resistance above the high of the day would be at $103.29. The move up today has broken the stock out of a consolidation pattern, a bullish ascending triangle. The upside potential would be to the $105.50 area. Support is at $101.90, the opening price of the session.
10:16 EDTUPSRumor: UPS moves higher amid activist investor speculation
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