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Stock Market & Financial Investment News

News Breaks
January 17, 2014
12:12 EDTUPS, FDX, ABFS, CNW, JBHTUPS, 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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May 29, 2015
12:13 EDTCNW, JBHTTrucking stocks under pressure after BofA downgrades four stocks
Trucking stocks are lower this morning after Ken Hoexter and his team at Bank of America/Merrill Lynch downgraded four stocks in the sector. The firm referenced "a rapid decline in macro transport statistics," as well as continued weakness in its concurrent bi-weekly proprietary Truck Shipper Survey. LESS-THAN-TRUCKLOAD CARRIERS: Hoexter and his team downgraded less-than-truckload, or LTL, carriers ArcBest (ARCB) and Con-way (CNW) to Underperform from Neutral citing increasing pressure on industrial data points. The firm added that LTLs will experience more pressure than truckload carriers. Price objectives for ArcBest and Con-way were lowered to $36 and $42, respectively.TRUCKLOAD CARRIERS: Bank of America/Merrill Lynch downgraded truckload carriers Knight Transportation (KNX) and J B Hunt (JBHT) to Neutral from Buy. Due to soft macro data, the firm anticipates volume pressures in the second and third quarters for the two trucking firms. Price objectives for Knight Transportation and J.B. Hunt were lowered to $33 and $90, respectively. PRICE ACTION: In midday trading, ArcBest is down over 5%, while Con-way is lower by almost 5%. Knight Transportation is down almost 6%, while J B Hunt is down less than 1%.
10:01 EDTCNW, JBHTOn The Fly: Analyst Downgrade Summary
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07:34 EDTCNWCon-way downgraded to Underperform from Neutral at BofA/Merrill
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07:34 EDTJBHTJ.B. Hunt downgraded to Neutral from Buy at BofA/Merrill
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May 28, 2015
07:24 EDTUPSUPS coverage resumed with a Neutral at Nomura
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07:24 EDTFDXFedEx coverage resumed with a Neutral at Nomura
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May 19, 2015
10:44 EDTUPSUPS to settle alleged civil false claims act violations for $25M
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07:22 EDTFDX, UPSUPS having success with pickup points, WSJ says
Driven by the increase in e-commerce deliveries, UPS (UPS) has been combatting failed deliveries by using package pickup points, called UPS Access Points, like local drug stores, reports the Wall Street Journal. As a result UPS, FedEx (FDX), and DHL are investing in new systems aimed at having e-commerce customers collect orders from these pickup points, the Journal adds. Reference Link
May 15, 2015
12:13 EDTFDXThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
12:07 EDTFDXThird Point reports new stakes in Yum! Brands, FedEx, McKesson
10:01 EDTUPSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aspen Technology (AZPN) upgraded to Overweight from Sector Weight at Pacific Crest... Canadian National (CNI) upgraded to Outperform from Sector Perform at Scotia Capital... Connecticut Water (CTWS) upgraded to Outperform from Market Perform at Wells Fargo... Hanesbrands (HBI) upgraded to Buy from Neutral at DA Davidson... Impala Platinum (IMPUY) upgraded to Buy from Neutral at Goldman... Inovalon (INOV) upgraded to Buy from Neutral at Goldman... J.C. Penney (JCP) upgraded to Market Perform at BMO Capital... Sovran Self Storage (SSS) upgraded to Buy from Neutral at UBS... Syngenta (SYT) upgraded to Neutral from Underperform at Exane BNP Paribas... UPS (UPS) upgraded to Buy from Neutral at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at TD Securities... Yum! Brands (YUM) upgraded to Overweight from Neutral at JPMorgan.
06:33 EDTFDXJudge denies FedEx motion on drug charges, Reuters says
A judge denied FedEx's motion to dismiss charges that it was involved in distributing controlled substances, according to Reuters. The company is accused by the Justice Department of shipping packages from illegal online pharmacies, the news service stated. Reference Link
05:46 EDTUPSUPS upgraded to Buy from Neutral at Goldman
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