Hints and tips:
...Yet a much milder 2 per cent decline in the shares of arch-rival FedEx suggests UPS has some unique problems....
...The company also announced it would explore “strategic alternatives” for its acquisition of Coyote, a truckload brokerage business, which made up 38 per cent of the revenue decline in the company’s supply...
...In June companies including Daimler, FedEx and Uber launched a lobbying group, the Partnership for Transportation Innovation and Opportunity, to address AVs and jobs....
...UPS bought Coyote Logistics last year to expand into the freight brokerage business and support its operations during peak holiday shopping season....
...Now DHL, FedEx, Royal Mail and other courier and delivery companies are bracing themselves for an expansion of the group’s North American UberRush service into Europe....
...US shipping behemoth FedEx climbed on Monday after brokerage Cowen & Company lifted its rating on the company on the view it will gain market share from rival UPS in the pivotal holiday sales season....
...Brokerage Evercore Partners also raised its price target late on Tuesday. The shares rose 3.1 per cent to $83.59....
...Benjy Schwartz, chief market strategist at retail brokerage Lightspeed Financial, said individual investors were not yet pulling funds out of the market....
...FedEx said that growth would be helped by the recent combination of its FedEx Freight and FedEx National LTL (Less than truckload) operations, which would create a leaner, more efficient freight business...
...The biggest truckload carrier in North America, Swift Transportation, edged up 0.9 per cent to $11.10 in its first day of trading....
...Package delivery company FedEx strengthened 3.2 per cent to $92.67 after reporting solid quarterly results that beat consensus estimates by a narrow margin....
...Shares in FedEx were up 3.2 per cent to $56.04....
...After the close on Monday, the brokerage also announced a further $5.7bn in writedowns on certain mortgage securities....
...Demand slackened for US express packages, less-than-truckload shipments, and copy and printing services....
...The most heavily sold banks and brokerages were among the biggest gainers....
...FedEx, the parcel delivery firm, fell 4 per cent to $93.75 while CSX, the railway company, lost 3.5 per cent to $62.81. In technology, industry bellwether Cisco reported strong results....
...The S&P homebuilder index was lower on Thursday with transport stocks also trading down after a disappointing earnings forecast from FedEx....
...Transport stocks also showed weakness after a disappointing earnings forecast from FedEx ....
...FedEx, down 4.7 per cent at $104.10, cut its earnings forecast for the year due to higher energy costs and uncertainty about the near-term economic outlook....
...In other earnings news, FedEx reported 2007 fiscal fourth quarter profit rose 7 per cent, but the results missed expectations....
...Cisco lost 7.7 per cent to $26.70 this week amid a string of brokerage downgrades....
...Interest rate jitters afflicted the financial sector, with investment banks and brokerages particularly hard-hit....
...But even that is limited to the so-called “less than truckload” segment, transporting relatively light loads over short distances....
...Virginia-based Overnite is one of the biggest operators in the less-than-truckload (LTL) market, carrying smaller quantities of freight over shorter distances than the long-haul truckload (TL) operators....
...Mr Graf pointed to growth in FedEx?...
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