The package delivery easily beat Wall Street estimates on higher revenue and margins. And investors will be paying close attention to the details since UPS's global footprint can offer insights into the health of the world economy.
The mammoth retailer plans to increase the number of its smaller-format stores and trim down the SuperCenters in new markets. The goal: To boost sales, especially among the lower-income households it considers its base.
FedEx, the world's biggest air-cargo carrier, will boost shipping rates in January as it looks to offset the effects of rising fuel costs on its bottom line. The company will increase FedEx Express shipping rates for domestic and export services by an average of 3.9%.
Despite more than doubling its earnings over the last three months, economic bellwether FedEx says that it will slash 1,700 jobs as it closes 100 facilities.
Trading volume last week was anemic, but things could get moving again this week. In addition to some big earnings reports, this Friday is a "quadruple witching day," and the market often puts up weekly gains when they end with witching days on Friday.
Last week, the Fed's Beige Book report confirmed that the economy continues to grow, but at a slower pace than in previous periods. This week will bring other economic data to either support or contrast with the Fed's findings as well as some key earnings reports.
The world's largest package delivery company's earnings rose sharply in the second quarter, easily beating expectations. Like rival FedEx, UPS is considered to be an economic bellwether.
When the world's largest delivery company posts earnings before the bell Thursday, it will likely attract extra attention for its macroeconomic implications.
Stocks opened broadly lower Tuesday, hurt by a weak reading on May housing construction and a tepid forecast from economic bellwether FedEx.
FedEx, the world's second-largest shipping company, enjoyed brisker business as the economy begins to show more signs of life. Its profit beat expectations, but the economic bellwether's tepid outlook sent shares lower.
FedEx (FDX), the world's second largest shipping company reported earnings Wednesday of $1.33 per diluted share for the fourth quarter ended May 31, narrowly beating estimates.
Looking for clues about global growth? Keep an eye on FedEx, which reports quarterly earnings early Wednesday. The world's second-largest package deliverer after UPS, FedEx is a barometer of global demand, and especially of business in China.
International shipping companies are scrambling to keep their operations moving, even as volcanic ash from Iceland closes down air traffic across much of Europe. Time-sensitive documents make up a large part of international air shipments. Promises of overnight deliveries are on hold.
Somaxon shares gained the most out of all U.S. stocks today, while Boeing shares lifted the Dow and new CEO drove up Barnes and Noble shares. Meanwhile, rumors of a Google, Intel and Sony partnership also moved those stocks.
Faced with an estimated $7 billion shortfall in 2010, the United States Postal Service is contemplating radical cuts that would eliminate Saturday mail delivery and raise the cost of postage. But to really turn the USPS's problems around, it will either need to be directly funded by the government or it needs the freedom to set its own prices, policies, and hours.
UPS, the world's biggest shipping company, said fourth-quarter net income nearly tripled from a year ago, as brisk holiday business and lower costs more than offset a decline in revenue. The company also affirmed its 2010 outlook.
Delta and Continental are raising the fees they charge customers to check baggage to $25 for the first bag. The move underscores how the industry is trying to squeeze every nickle from the flying public. The winners in this trend? Package-delivery companies.
FedEx updated its guidance for 2Q earnings, raising its profit estimates by 10 cents per share. Is this a sign that the recession is over -- and by over I mean really over, as in done?
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