FedEx stock price target raised to $295 from $284 at Stifel Nicolaus
FedEx stock price target raised to $295 from $284 at Stifel Nicolaus
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FedEx stock price target raised to $295 from $284 at Stifel Nicolaus
FedEx upgraded to buy from hold at Stifel Nicolaus
FedEx stock price target cut to $300 from $315 at J.P. Morgan
Shares of FedEx Corp. nearly 4% late Tuesday after the company reported fiscal third-quarter earnings and sales above expectations. FedEx said it earned $2.07 billion, or $7.59 a share, in the quarter, compared with $562 million, or $2.07 a share, in the year-ago period. Adjusted for one-time items, FedEx said it earned $1.02 billion, or $3.72 a share, in the quarter, compared with $625 million, or $2.30 a share, a year ago. Revenue rose to $16.5 billion, from $15 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $3.11 a share on sales of $16.2 billion. "We expect strong operating performance in each of our transportation segments in the fourth quarter," Chief Executive Frederick W. Smith said in a statement. The company said it expects earnings between $17.90 and $18.30 a share for fiscal 2018 before pension-accounting adjustments, an increase from previous estimates thanks to foreign-tax benefits, the U.S. tax overhaul, and improved operating performance. FedEx said it expects capital spending for fiscal 2018 at $5.8 billion, down $100 million from its prior forecast. Shares ended the regular trading session up 1%.
FedEx shares up 1.5% after company earnings, sales beat
FedEx fiscal Q3 adj. EPS $3.72 vs. expectations $3.11
FedEx fiscal Q3 rev. $16.5 billion vs. expectations $16.2 billion
FedEx Corp. said Tuesday that it will put 500 FedEx Office locations in select Walmart Inc. stores over the next two years. Customers will be able to pack, ship and print from the locations. Customers can also send packages to any Walmart-based Fedex Office location to store for up to five business days. The two companies piloted the program in 47 locations in six states. The effort is part of an expansion of the FedEx network. FedEx shares are up nearly 30% for the last year while Walmart shares are up 25% for the period. The Dow Jones Industrial Average is up 17.7% for the last 12 months, outpacing the S&P 500 index , which has risen 14.3% for the period.
FedEx's expansion into Walmart stores follows completion of 47-store pilot program across 6 states
FedEx to place 500 new FedEx Office locations within domestic Walmart stores in next 2 years
A package reportedly exploded outside a FedEx Inc. depot in Schertz, Texas, just after midnight on Monday, injuring one employee, according to media reports. The Federal Bureau of Investigation is investigating the blast, and agents believe that it's likely is linked to four other bombs that have gone off in recent weeks in Austin, the Associated Press reported. Two people have died so far from those blasts, and investigators have been hunting for what they believe is a "serial bomber." Three of those devices were believed to have been hidden inside packages, while another blast involving a tripwire occurred in a residential neighborhood of Austin on Sunday evening, injuring two persons.
Deutsche Post AG's DHL business is tiptoeing back into the domestic parcel delivery in the U.S., drawn in by the strong growth in e-commerce to bring new competition to a market that's been dominated by United Parcel Service Inc. and FedEx Corp. for a decade.
The Dow Jones Transportation Average rallied 0.7% in afternoon trade, to buck the weakness in the broader market, as gains in airline stocks provided a boost. Of the Dow transports' 20 components, 17 gained ground, while the Dow Jones Industrial Average slumped 109 points, or 0.4%, with 23 of 30 components losing ground. Among the Dow transports' biggest gainers, shares of Alaska Air Group Inc. ran up 4.3% to a 7-week high after reporting February operating data, FedEx Corp. climbed 1.5%, United Continental Holdings Inc. rallied 1.4%, J.B. Hunt Transport Services Inc. tacked on 1.3% and JetBlue Airways Corp. advanced 1.2%.
Shares of United Parcel Service Inc. rallied 1.9% in premarket trade Tuesday, after the package delivery giant was upgraded at Stifel Nicolaus, which said the stock has been "oversold," the business remains "strong" and the dividend is the "most attractive" among its peers. Analyst David Ross raised his rating to buy from hold, but cut his stock price target to $121 from $127. The stock has plunged 17% since the company announced capital expenditure plans on Feb. 1, which was well above the company's historical spending levels, while shares of rival FedEx Corp. have lost 7.8%, the Dow Jones Transportation Average has shed 5.7% and the Dow Jones Industrial Average has declined 4.9%. Ross said just as the stock was too high in January above $132, "it's now too low" below $106, and he believes "the shares have been oversold and find it the most attractive dividend play in large-cap U.S. transportation." UPS's dividend yield is 3.44% through Monday's close, while FedEx's yield is 0.83% and the implied yield on the Dow transports is 1.29%.
A man who police believe carried out a string of package bombings in Austin is dead, Austin’s police chief said, putting an end to a weekslong hunt to track down and stop the bomber who killed two people, injured several others and left the Texas capital and its residents on edge.
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While no specifics on the materials used in the Austin explosions have been released, experts said it’s not hard for would-be bomb makers to buy the necessary materials, and figure out how to construct an explosive device.
Two more explosive devices were found in Texas on Tuesday, one that blew up inside a FedEx Corp. facility outside San Antonio, and another that was unexploded at a FedEx site in Austin. On Tuesday evening, an incendiary device was discovered in south Austin, unrelated to the earlier explosive devices, police say.
Millions of packages pass through FedEx and UPS facilities on a typical day, making it hard to prevent the type of explosion that rocked a FedEx sorting center in Texas early Tuesday.
Police are investigating a string of bombings across Austin since early March that have left two people dead and several others injured.
A string of blasts have shaken up the usually fun-loving capital city, cutting a path of violence across myriad neighborhoods and demographics.
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A package bomb exploded at a FedEx distribution center in Texas, hurting one worker. Police have been searching for a “serial bomber” after a series of explosions in Austin that have killed two and injured others.
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Police are investigating a string of package explosions across the Texas capital, including two on Monday, that have left two people dead and two others injured since early March.
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A man who police believe carried out a string of package bombings in Austin is dead, Austin’s police chief said, putting an end to a weekslong hunt to track down and stop the bomber who killed two people, injured several others and left the Texas capital and its residents on edge.
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Ships are scrubbing up ahead of emissions rules, questions over fleet values may weigh on trucking M&A and coal has some heat left in global energy markets.
While no specifics on the materials used in the Austin explosions have been released, experts said it’s not hard for would-be bomb makers to buy the necessary materials, and figure out how to construct an explosive device.
Two more explosive devices were found in Texas on Tuesday, one that blew up inside a FedEx Corp. facility outside San Antonio, and another that was unexploded at a FedEx site in Austin. On Tuesday evening, an incendiary device was discovered in south Austin, unrelated to the earlier explosive devices, police say.
FedEx's (FDX) CEO Fred Smith on Q3 2018 Results - Earnings Call Transcript
Millions of packages pass through FedEx and UPS facilities on a typical day, making it hard to prevent the type of explosion that rocked a FedEx sorting center in Texas early Tuesday.
FedEx +2.6% as revenue boost, fuel impact drives profit gains
Police are investigating a string of bombings across Austin since early March that have left two people dead and several others injured.
FedEx Will Open New Shops Inside 500 Walmart Stores
A string of blasts have shaken up the usually fun-loving capital city, cutting a path of violence across myriad neighborhoods and demographics.
How Worried Should FedEx Corporation Be About Amazon.com, Inc.?
FedEx and Walmart are bringing the fight to Amazon.com with a newly expanded deal. FedEx is now planning to put 500 FedEx Office locations in select Walmart store over the next two years.
Package delivery giant FedEx reports earnings with a market-neutral P/E ratio of 23.20 and a dividend yield of just 0.79%.
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Another Austin explosion injures at least one
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight. The TNT Express segment comprises of international express transportation, small-packaging ground delivery, and freight transportation. The FedEx Ground segment focuses on small-package ground delivery services, and day-certain service to any business address in the United States, and Canada. The FedEx Freight segment offers less-than-truckload freight services across all lengths of haul. The FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions. The company was founded by Frederick Wallace Smith on June 18, 1971 and is headquartered in Memphis, TN. (See Full Profile)
Name | Chg % | Market Cap |
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Air T Inc. | $53.63M | |
Expeditors International of Washington Inc. | $11.34B | |
C.H. Robinson Worldwide Inc. | $13.01B | |
Air Transport Services Group Inc. | $1.47B | |
United Parcel Service Inc. Cl B | $92.94B |