Quarterly earnings from logistics giant FedEx are coming. They better be good. One reason investor expectations are rising is the labor negotiations at United Parcel Service that wrapped up in late August.
Investors are probably looking for a beat. One reason is some additional volume that came to FedEx from UPS as businesses looked to protect themselves from a potential UPS labor stoppage. About a week ago, UPS “effectively guided 3Q earnings per share 25% below consensus,” wrote Citi analyst Christian Wetherbee in a recent report. Higher labor costs as well as shifting volumes were to blame.
The weaker-than-hoped-for outlook was a reason shares dropped 2.5% after the report, closing at $224.73. Shares have recovered though, closing Tuesday at just under $250 a share.
Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
FedEx earnings: Can UPS's labor trouble and Yellow's bankruptcy help snap the streak of revenue misses?How FedEx performed in its first quarter could have a lot to do with some bad things that happened to a couple of the package delivery company's competitors.
Weiterlesen »