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News Breaks | | | | January 14, 2013 | | 12:58 EDT |  | UPS, TNTEY, FDX | UPS advances after abandoning takeover of TNT
UPS (UPS) indicated this morning that it would not acquire Dutch delivery company TNT Express (TNTTY) as previously planned because the E.U. has decided to block the deal over competition concerns. As a result, UPS said that it would pay TNT a EUR200M termination fee. In a note to investors earlier today, Deutsche Bank analyst Justin Yagerman responded to the news by upgrading UPS to Buy from Hold. UPS will likely buy back more shares of its own stock following the termination of the deal, wrote Yagerman, who raised his earnings per share estimates to reflect the expected additional buybacks. The analyst, who added that investors had been cautious about the acquisition, increased his price target on UPS shares to $92 from $83. Similarly, Jefferies analyst Peter Nesvold wrote that UPS would likely buy back a large amount of additional shares or increase its dividend soon. The company could announce such a move after February 5, when the E.U. is expected to announce that it will block the TNT acquisition, wrote the analyst, who maintained a Hold rating on the stock. Meanwhile, Nesvold added that FedEx (FDX) is "extremely unlikely" to launch its own bid for UPS. In early afternoon trading, UPS rose $1.14, or 1.46%, to $79.06, while FedEx added 0.77% to $98.15. | |
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News For UPS;FDX;TNTEY From The Last 14 Days Check below for free stories on UPS;FDX;TNTEY the last two weeks. |
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| May 23, 2013 | | 05:45 EDT |  | FDX | Big companies remove subsidiaries based on SEC disclosure rules, WSJ reports
 Subscribe for More Information | | | May 15, 2013 | | 08:02 EDT |  | FDX | FedEx should be bought on pullbacks, says RW Baird
Baird lowered its estimates on FedEx to reflect below consensus Q4 results and guidance. The firm cited continued international airfreight weakness but sees stabilizing signs. Baird remains constructive on the shares citing low investor sentiment and potential for margin improvements. Shares are Outperform rated with a $112 price target. | | | 07:31 EDT | | FDX | FedEx news should improve investor sentiment, says Oppenheimer
After FedEx announced that it anticipates delivering $1.65B of annualized profitability improvement by FY16, Oppenheimer believes that this news, along with a capacity cut and the company's recent win of a major Post Office contract, will improve investor sentiment towards the stock. The firm reiterates an Outperform rating on the shares. | | | May 14, 2013 | | 07:23 EDT |  | FDX | Oppenheimer to host a summit
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