|Bid||148.50 x 900|
|Ask||148.70 x 1100|
|Day's Range||148.45 - 153.36|
|52 Week Range||147.82 - 250.95|
|Beta (3Y Monthly)||1.76|
|PE Ratio (TTM)||87.41|
|Earnings Date||Dec 17, 2019|
|Forward Dividend & Yield||2.60 (1.71%)|
|1y Target Est||179.32|
The stock market lost some ground amid soaring crude oil prices, Fed policy moves and China trade headwinds.
Last Week's Pricing Power Index: 45 (Shippers) The trucking industry operates in a market based on real-time demand and supply. When demand is higher than capacity, carriers gain negotiating power for ...
Currently, two points of interest surround Micron Technology (NASDAQ:MU). First, Micron is scheduled to release its fiscal fourth quarter of 2019 earnings report. Recently, Goldman Sachs generated headlines when analysts there declared that MU stock could rise through Micron beating expectations. For the record, consensus estimates peg earnings per share to come in at 48 cents.Source: Charles Knowles / Shutterstock.com Second and more significantly, both political and economic observers are hoping for a truce in the U.S.-China trade war. While the tit-for-tat tariffs have combined with aggressive nationalistic rhetoric, I see a case for at least some resolution. Although I've generally been pessimistic about this conflict, both sides are incentivized to come to the negotiating table. Even a modest truce could spike Micron stock.Of course, such a geopolitical development would be much more meaningful for MU stock than an earnings beat. While I respect Goldman Sachs' confidence, it's not completely out of the question for MU to bring home the goods. In Q4 of the last fiscal year, Micron produced an EPS of $3.53.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Dividend Stocks to Buy for a Recession The wide gap year-over-year is due to the volatile memory chip market. Before the trade war, robust demand for emerging, lucrative technologies such as the cloud and data centers lifted chip prices. Naturally, semiconductors ramped up production. But when the trade war prolonged beyond what many experts forecasted, it created production pressures. This eventually caused a supply glut, gutting Micron stock due to declining memory chip demand.But prices are picking back up again, which explains the surge in MU stock since late June. What would really seal the deal, though, is a trade agreement. For MU Stock Investors, All Eyes Are on the Trade WarOver the next two days, U.S. and Chinese deputy trade negotiators will engage in face-to-face meetings in Washington. This is the first such meeting in nearly two months. Moreover, organizers hope that this will lay the foundation for high-level talks early next month.While an insider suggested that the current meetings will focus on agriculture, they nevertheless have longer-term implications for Micron stock. That's because the trade war can't end without the two sides hashing out an agreement. Thus, these lower-level talks provide an ideal segue.As I pointed out earlier, I haven't been too hot on a deal materializing soon. Yet some news items suggest we may be getting closer. For example, President Donald Trump proclaimed his own "gesture of goodwill," delaying for two weeks a scheduled 5% lift in tariffs. According to the president, that was to allow China to celebrate their republic's 70th anniversary with one less stressor.More importantly, both sides have hurt significantly from the conflict. In China, growth has grinded down to its slowest rate in decades. Although the trade war isn't the only contributing factor, it plays a major role. Additionally, this slowdown isn't just a granular, esoteric concept: rising wages in China means that Chinese manufacturers may look overseas themselves for cheap labor, hurting the growing middle class.Here in the U.S., Trump may boast about winning this trade war. But the facts suggest a different narrative. For instance, courier service FedEx (NYSE:FDX) complained that the geopolitical dispute has impeded its business.Furthermore, the trade war is hitting home to areas such as the American lobster industry, which has seen disastrous declines. That puts serious pressure on the Trump administration because of the election cycle. By logical deduction, this benefits the bullish narrative for MU stock. What Happens If Talks Fail?While indications suggest that we may have some truce, we won't know until we know. Unfortunately, the current administration has a knack for pulling surprises on us out of the left field. Thus, no substantive truce is also a very real possibility.Seemingly, that bodes poorly for Micron stock. As you know, American semiconductor companies' revenue streams are heavily dependent on overseas demand. Moreover, a failed negotiation could panic Wall Street, tanking cyclical names like MU stock.That said, we can't ignore that Trump's aggressive prosecution of this trade war represents a net long-term tailwind for Micron. Bear in mind that our tech firms are locked in both capitalistic and national security interests. In fact, Micron themselves lists China's "national policy objectives" as a risk factor for MU stock.Plus, Micron themselves have been victims of Chinese corporate espionage. So as painful as this trade war is, it's also in many ways necessary.Of course, not getting a deal may severely impact Micron stock due to panicked sentiment. But if you have a long-term outlook, that volatility would present a discounted opportunity for you. With so much at stake, none of our tech players are letting their foot off the gas.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post Micron Stock Needs a Catalyst and a Trade Truce Can Provide It appeared first on InvestorPlace.
to buy in to the initial public offering of its state oil company, as part of a plan to achieve the $2tn valuation coveted by Crown Prince Mohammed bin Salman. Eight people familiar with the talks said they were part of a plan to build confidence in the Saudi Aramco deal, which has been rocked by last weekend’s devastating attacks on Saudi Arabia’s oil infrastructure. Four of the sources said the aim was to “strong arm”, “coerce” or “bully” some of the wealthiest families in the kingdom to become cornerstone investors in what has been billed as the world’s biggest ever IPO.
Memphis-based FedEx Corp. announced Thursday, Sept. 19 that Wing Aviation LLC — a subsidiary of Alphabet — is working with FedEx Express and Walgreens to launch a drone delivery service. The pilot program is set to take to the air in Christiansburg, Virginia in October and will be run as part of the U.S. Department of Transportation’s Unmanned Aircraft System Integration Pilot Program (IPP). This is FedEx’s latest innovative attempt to tackle last-mile delivery.
A profit warning and muted outlook from package delivery company FedEx Corp is prompting some high-profile fund managers to prepare for the trade war between the United States and China to last longer than many had originally anticipated. Shares of the shipping company, whose business is often seen as a proxy for growth in the global economy, tumbled 13% Wednesday, a day after it said it planned to ground some planes and cut costs due to the effects of the trade war between the world's two largest economies. "We were hopeful of a trade deal and some sort of return to normalcy and that has not taken place," FedEx's chief executive, Frederick Smith, said on its earnings call.
(Bloomberg) -- Amazon.com Inc. contributed more greenhouse gas emissions last year than some big competitors in retail, logistics and technology, but less than rival Walmart Inc. and the world’s biggest energy companies, highlighting the growing scale and diverse businesses of the conglomerate.The disclosure by Amazon of its 2018 carbon emissions, 44.4 million metric tons of carbon dioxide equivalent, including purchased electricity and indirect emissions, came Thursday when the company committed to powering all of its business operations by renewable energy sources by 2030, and achieving carbon neutrality a decade later.Amazon’s emissions exceed the reported totals of United Parcel Service Inc. and FedEx Corp. as well as Apple Inc., Alphabet Inc., Microsoft Corp. and Target Corp. in data compiled by CDP, formerly the Carbon Disclosure Project. Amazon’s total is 38% less than rival Walmart, the group said.“It’s a big number,” said Bruno Sarda, president of CDP North America, adding that Amazon’s emissions compare to a large power company. “They probably wouldn’t make the top 50, but when you look at what’s up there, it’s mostly all the large fossil fuel companies.”An Amazon spokesman said the company’s disclosures, which accounted for emissions generated by customer trips to retail stores such as Whole Foods, captured a fuller picture than those of some competitors.Amazon for years has frustrated climate advocates by refusing to participate in increasingly common corporate social responsibility and environmental disclosures. But employees and shareholders have been pressuring the company to change. A shareholder proposal in May requesting an Amazon climate policy failed -- but drew 30% of votes cast.“We’ve been requesting this information from them for 15 straight years,” Sarda said. “They’re just not big fans of transparency, or using frameworks that others have developed to measure their performance.”Chief Executive Officer Jeff Bezos acknowledged that Amazon had work to do. “We’ve been in the middle of the herd on this issue and we want to move to the forefront,” Bezos said at a news conference in Washington where he encouraged other companies to set similar goals. “We want to be leaders.”Some corporate governance and environmental groups praised the Seattle-based company for the steps they announced on Thursday.“It’s very important when a company like Amazon or Walmart take major steps to be proactive on climate,” said Tim Smith, a director at Walden Asset Management and a longtime advocate of corporate action on issues of social responsibility. “I hope they’re getting the message that they received in the votes in the shareholders meeting, and from their customers, that they expect much of them.”Amazon’s carbon footprint reflects the company’s move from a humble online retailer into a plethora of energy-intensive businesses, including running massive cloud-computing server farms, and, increasingly, hauling its own packages by plane and truck and delivering them to customers’ doorsteps. The figures the company disclosed include emissions produced by Amazon’s own operations, the electricity that powers its facilities and more indirect sources like the cost of producing Amazon’s packaging and electronic devices, among other things.The company’s turn toward transparency on climate issues wasn’t the first time a major technology company decided to go out and grab the mantle of leadership on climate change. Apple has released an environmental impact report with increasing levels of detail for the past decade and stepped into the spotlight during in 2013 when it hired Lisa Jackson, a former U.S. Environmental Protection Agency administrator, as vice president for environment, policy and social initiatives.Apple started submitting investor disclosure information to the U.K. nonprofit CDP in 2014, the same year that CEO Tim Cook publicly snapped at a critic that if he didn’t like the company’s environmental policies he should “get out of this stock.”To contact the reporters on this story: Matt Day in Seattle at firstname.lastname@example.org;Eric Roston in New York at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
China's Foreign Ministry said it has informed the U.S. consulate about the case of a FedEx Corp pilot on Friday. Chinese authorities in the southern city of Guangzhou detained and later released one of its pilots on bail, according to FedEx. Ministry spokesman Geng Shuang made the comment at a daily news briefing in Beijing.
The following are the top stories in the Wall Street Journal. - The committee for wildfire victims in the bankruptcy of PG&E Corp said in a court filing on Thursday it was prepared to present a $24 billion reorganization plan for the power provider. - U.S. payments startup Stripe Inc said on Thursday it is raising $250 million in its latest funding round, which values the company at $35 billion.
A pilot with FedEx was arrested by authorities in China in the latest setback for the US logistics company in the country, where it has been under a series of investigations against the backdrop of a simmering trade war between Washington and Beijing. “FedEx confirms that Chinese authorities in Guangzhou detained and later released one of our pilots on bail after an item was found in his luggage prior to a commercial flight,” it said. FedEx did not identify the pilot or the nature of the item.
Humans are notable for bipedalism, opposable thumbs and their capacity for making and rationalising mistakes. It is more instructive to consider why people make mistakes than simply bemoan the consequences. The mooted initial public offering of Saudi Aramco illustrates the theme.
Walgreens and FedEx will partner with Google Wing on drone deliveries of packages and goods. Walgreens stock and FedEx stock rose.
(Bloomberg) -- One of the nation’s largest drug store chains and a shipping service giant are joining forces, with Alphabet Inc.’s Wing to begin a first-of-its-kind drone delivery service in October.Walgreens, FedEx Corp. and Wing, an offshoot of Google that was the first U.S. drone operator to receive partial certification as an airline, will begin the exploratory deliveries in the small town of Christiansburg, Virginia, the companies said in an announcement Thursday.The companies aim to go beyond the small-scale delivery demonstrations that have occurred so far in the U.S., typically under controlled environments conducted over short ranges, they said.“Wing has spent the last seven years developing a delivery drone and navigation system for this purpose,” Chief Executive Officer James Ryan Burgess said in the release. “By delivering small packages directly to homes through the air in minutes, and making a wide range of medicine, food and other products available to customers, we will demonstrate what we expect safer, faster, cleaner local delivery to look like in the future.”Read more: Amazon Poised to Test Chopper-Plane Mashup for Drone DeliveriesThe announcement is a sign of the rapid maturation of the drone industry, as multiple titans of industry race to find their place in what could become a transforming technology. At the same time, the U.S. government hasn’t created a regulatory structure or formal safety standards for small, low-flying drone operations, so such demonstrations continue to be conducted using waivers to existing rules.Wing has conducted demonstrations of how its deliveries would work before, including lowering a Popsicle to a toddler in Virginia last year. But the project with Walgreens and FedEx is designed to send actual merchandise to customers on a far bigger scale.The demonstration project is being conducted near the campus of Virginia Tech in Blacksburg and is associated with the Mid-Atlantic Partnership, one of the groups selected by the U.S. government as testing entities for drone commerce. While there is growing demand for using drones to deliver goods and to perform many industrial functions, the Federal Aviation Administration is still in the process of developing regulations to govern them.Robotic RaceWing is one of the leading companies in the race toward having robotic unmanned craft zip through the sky to people’s homes to drop off goods, and has received waivers to allow longer-range flights.Amazon.com Inc. and United Parcel Service Inc. are also developing their delivery services. A number of smaller companies, including Flirtey Inc. and Zipline International Inc., are either doing demonstration projects or have made deliveries in other countries.The partnership between Wing, Walgreens and FedEx has benefits for all three in the race to exploit the drone economy.Walgreens, a division of Walgreens Boots Alliance Inc., and other large drugstore chains have seen their sales chipped away at by Amazon and other online retailers, as the convenience of a brick-and-mortar pharmacy a short drive away has been supplanted by a package delivered to a customer’s front door. Amazon has also moved into the prescription drug business, offering patients conveniently-packaged pills through its PillPack unit.Drugstores Fight BackIn response, the drugstore chains have begun offering competing services to defend themselves. Walgreens offers a delivery service for prescriptions, and has partnered with FedEx to use its stores as package drop-off points. It’s also partnered with Kroger Co. on a pilot program for customers to pick up groceries at Walgreens stores.The partnership with Wing gives FedEx leverage to compete against UPS, which is using the small flying devices for revenue-generating health-care deliveries, such as blood samples, within a hospital campus in North Carolina.UPS is also seeking FAA authorization to operate like a small airline and expects to get that designation soon. UPS Chief Executive Officer David Abney has said the focus of drone deliveries would be the health-care industry at first, and then expand from there.(Updates with other companies in ninth paragraph.)\--With assistance from Drew Armstrong.To contact the reporters on this story: Alan Levin in Washington at email@example.com;Thomas Black in Dallas at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Elizabeth Wasserman, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Fed cuts interest rates again, but what's next? Why Microsoft (MSFT) stock surged. The latest from AT&T (T) and FedEx (FDX). And why Skechers (SKX) stock is a Zacks Rank 1 (Strong Buy) right now - Free Lunch
Chinese authorities in the southern city of Guangzhou detained a U.S. pilot for FedEx Corp last week on suspicion of smuggling weapons and ammunition after finding suspected air gun pellets in his luggage, the foreign ministry said on Friday. The man, identified by the Wall Street Journal as former U.S. Air Force pilot Todd Hohn, arrived in Guangzhou having piloted a FedEx freighter aircraft into the city on Sept. 11, Foreign Ministry spokesman Geng Shuang said.
Walgreens said it's teaming with drone maker Wing in a test to deliver packages to residents of Christianburg, Virginia beginning next month.