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FedEx Stock Is Up Because the Market Thinks It Can Live Without Amazon

Teresa Rivas

On Friday, FedEx said it had decided not to renew the FedEx Express U.S. domestic contract with Amazon, choosing instead to focus its resources on the rest of the e-commerce market. The move comes during a difficult period for FedEx, and at first it might seem odd for a delivery firm to part ways deliberately with the nation’s biggest e-commerce player. Initially the rise of online sales was hailed as a boon for FedEx and (UPS) (UPS), but that dynamic has since changed.