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December 26, 2013
11:10 EDTFDX, UPSUPS, FedEx failed to deliver gifts in time for Christmas
Many UPS (UPS) and FedEx (FDX) packages that were supposed to be delivered before Christmas were delayed until after the holiday, the companies have confirmed. WHAT'S NEW: Both UPS and FedEx failed to deliver many Christmas gifts in time for the holiday. The companies said the delays were caused by larger than expected shipment volumes, poor weather, and this year's short holiday shopping season. ANALYST REACTION: The brands of FedEx and UPS may be damaged over the short-term by the delays, Wells Fargo analyst Anthony Gallo wrote in a note to investors. On the other hand, there are "limited alternatives" in the residential package delivery space and the companies have provided good service for a long time, the analyst added. Gallo did warn that both companies may have to invest more money in their businesses in order to handle periods of high demand. He kept a Market Perform rating on both stocks. Taking a more optimistic view was Argus analyst John Gelcius who, despite the shipping delays, raised his price target on FedEx to $173 from $122. The company's ground business has grown robustly while posting solid margin growth, Gelcius reported. FedEx can meet the high end of its fiscal 2014 earnings guidance, he wrote. The analyst kept a Buy rating on the stock. WHAT'S NOTABLE: On December 19, The Wall Street Journal reported that several regional shipping companies have been expanding their networks across the country, creating a threat to FedEx and UPS. PRICE ACTION: In late morning trading, FedEx rose 0.6% to $142.90, while UPS lost 0.25% to $104.20.
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April 13, 2014
19:35 EDTFDXNTSB launches go-team to investigate bus and truck collision in California
In response to the bus crash involving a FedEx truck last week, the NTSB issued the following press release on its website on Friday: The National Transportation Safety Board has launched a go-team to investigate a crash involving a truck that crossed over the center median of Interstate 5 and collided with a motor coach in Orland, California. Highway Safety Investigator Robert Accetta will serve as the investigator-in-charge, leading a multi-disciplinary team of NTSB personnel. NTSB Board Member Mark Rosekind is accompanying the team and will serve as the principal spokesperson during the on-scene phase of the investigation. Reference Link
April 11, 2014
10:29 EDTFDXTen people die after FedEx truck crashes into bus, USA Today says
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April 9, 2014
07:36 EDTFDXCFA Society of Cleveland to hold a luncheon meeting
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April 4, 2014
08:44 EDTUPSUPS supply chain management favors its strategy, says RW Baird
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