|Bid||179.11 x 900|
|Ask||179.55 x 800|
|Day's Range||176.96 - 179.50|
|52 Week Range||150.94 - 266.67|
|Beta (3Y Monthly)||1.83|
|PE Ratio (TTM)||9.75|
|Earnings Date||Mar 19, 2019|
|Forward Dividend & Yield||2.60 (1.41%)|
|1y Target Est||222.92|
Amazon aims to compete with FedEx and UPS in the logistics and shipping industry. That's what analysts told CNBC after Amazon Air recently expanded to 50 planes and announced it will open a $1.5 billion air hub in Northern Kentucky in 2021. Amazon is handling up to 26% of its own shipping, meaning FedEx, UPS and the U.S. Postal Service are losing a portion of Amazon's business. FedEx says it's not worried, but Morgan Stanley reports the major shippers have already lost 2% revenue to Amazon Air.
The fourth-quarter results posted yesterday by XPO Logistics, Inc. (NYSE: XPO) reveal as much about Amazon.com, Inc.'s logistics intentions as they do about XPO's outlook. XPO's "largest customer," which the company won't identify but which everyone believes to be Amazon.com, Inc. (NASDAQ: AMZN), is taking in-house most, if not all, of its $600 million of annual spend with XPO. As a result, XPO reported that its key earnings metric – EBITDA – fell short in the fourth quarter, and that quarterly operating income in its transportation and logistics divisions declined year-over-year.
The unexpected news yesterday that David J. Bronczek would retire Feb. 28 as FedEx Corp.'s (NYSE: FDX) president and COO, as well as his departure the same day from the company's board less than three weeks after being named a director, has left people searching for answers. A sentence buried at the end of a Jan. 28 Securities and Exchange Commission filing, which disclosed Bronczek's elevation to the board, may offer a clue. Frederick W. Smith, the company's chairman, CEO and a management board member, turns 75 on Aug. 11.
shares closed down 2.5% Friday to $179.30 after the company announced that David Bronczek will step down as president and chief operating officer and will be replaced by Raj Subramaniam. The move becomes official March 1 after Bronczek, 64, made a "personal decision" to retire, the company said in a regulatory filing. Bronczek was named to the board on Jan. 28, a month after Subramaniam, 52, was promoted to lead FedEx Express.
FedEx Plunges 2.5% after President and COO Bronczek ResignsPresident and COO resigns Shares of FedEx (FDX) fell 2.5% on February 15 after the company revealed in an SEC (Securities and Exchange Commission) filing that its president and COO, David
XPO Logistics warned that its "largest customer" — widely seen as Amazon — is downsizing its business. XPO Logistics stock tumbled; UPS, FedEx fell.
XPO Logistics Inc shares sank more than 14 percent on Friday after it said its biggest customer, believed to be Amazon.com, slashed its business with the warehousing and last-mile delivery provider by two-thirds. XPO shares fell $8.53 to $51.02 a day after the company missed fourth-quarter profit targets and warned that it could lose $600 million in revenue in 2019 due to a reduction in business from its biggest customer, which XPO did not name. Current and former XPO employees as well as industry insiders told Reuters that the customer is Amazon.
Its influence continues to expand, and it seems that no sector is safe from the threat of Amazon disruption. On Friday alone, (XPO) (XPO) shares plummeted nearly 20% after the company reported a customer loss that analysts suspect is Amazon. XPO is just the most recent in a long line of companies—in a variety of sectors—that have been affected by Amazon.
Raj Subramaniam will take over as president and chief operating officer March 1, replacing David Bronczek, the shipping giant said in a statement Thursday. Bronczek had just been named to the board Jan. 28, a month after Subramaniam, 52, was promoted to lead FedEx Express, the company’s largest business unit.
Shares of FedEx Corp. sank 3.0% and United Parcel Service Inc. shed 1.3% in midday trade Friday, bucking the gains seen in the broader market, after fellow transportation company XPO Logisitics Inc. said its largest customer is curtailing about two-thirds of its postal injection business. XPO declined to comment on who the customer was, but J.P. Morgan analyst Brian Ossenbeck said the loss of business is likely Amazon.com Inc. taking capacity in-house. Ossenbeck said he could see FedEx and UPS shares "react negatively on the implication that Amazon is reducing third party transportation exposure." The shares were the biggest decliners in the Dow Jones Transportation Average , which rose 0.3%, compared with the Dow Jones Industrial Average's 350-point, or 1.4% gain. Meanwhile, XPO's stock tumbled 16%.
A recent bit of surprise FedEx news concerning an executive departure has FDX stock down on Friday.FedEx (NYSE:FDX) says that David J. Bronczek is retiring from his various roles at the company. This has him leaving behind the position of President and COO, as well as giving up his seat on the Board of Directors.The FedEx news doesn't provide much in the way of details as to why Bronczek is retiring from the company. Instead, it simply states that the former President and COO is doing so for his own personal reasons.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile the departure of Bronczek has FDX stock down on Friday, the company already has a replacement ready to take over for him. This replacement is Raj Subramaniam, who will be taking over the roles of President and COO on March 1.Raj Subramaniam is the current President and CEO of FedEx Express. He will continue to hold this position after taking on the additional roles being left open by Bronczek's retirement. Subramaniam will also be serving as the co-President and co-CEO of FedEx Services. * 10 Hot Stocks Leading the Market's Blitz Higher "On behalf of the Board and management team, we recognize Dave for his years of service to FedEx. FedEx has a deep bench of talent, and I am confident that the transition will be seamless," Frederick W. Smith, Chairman and CEO of FedEx, said in a statement. "Raj has significant experience in many areas of our portfolio, which will be vital as he steps into this position."FDX stock was down 3% as of noon Friday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? * 7 Strong Buy Stocks With Over 20% Upside * 7 Reasons Stock Buybacks Should Be Illegal As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post FedEx News: FDX Stock Slips on Executive Departure appeared first on InvestorPlace.
XPO Logistics cut guidance and said it lost profits from a large customer. Investors will believe that’s the last-mile logistic business XPO provides for Amazon.com.
The backing from Amazon will bolster Michigan-based Rivian’s plans to bring an electric truck to market in late 2020. Rivian remains in talks with General Motors Co. about the largest U.S. automaker making an investment or collaborating another way, people familiar with the matter said. Chief Executive Officer R.J. Scaringe said in his first interview since reports of Rivian’s talks with Amazon and GM surfaced earlier this week that he was seeking companies that could help the electric-vehicle maker grow.
The step back from an acquisitions strategy that helped build the company follows a weaker-than-expected earnings report and a lowered profit outlook for this year, the WSJ Logistics Report’s Jennifer Smith writes, the latest signs of wavering growth at the business. Industry analysts believe that’s likely Amazon, which is bringing more of its logistics operations in-house. The company’s decision to abandon its multi-headed headquarters move into New York marks a retreat in the face of stiff opposition from some local politicians, the WSJ’s Laura Stevens, Jimmy Vielkind and Katie Honan report.
A case of a lost package escalates when it’s housing tens of thousands of dollars worth of Rolex watches – like the $20,000 Rolex Yachtmaster, complete with an “oyster bracelet.”
On the heels of his retirement news from FedEx, David Bronczek will vacate his board seat at International Paper.
Nvidia, CBS, Deere, PepsiCo, Caesars Entertainment, Applied Materials, Newell Brands, Oracle, FedEx, Redfin are among Friday’s stocks to watch.
The Board of Directors of FedEx Corporation today declared a quarterly cash dividend of $0.65 per share on FedEx Corporation common stock. The dividend is payable April 1, 2019 to stockholders of record at the close of business on March 11, 2019.
Amazon AMZN is becoming a player in the logistics and shipping industry. "Amazon is looking to become a logistics company in their own right," said Ravi Shanker, Morgan Stanley's North American transportation analyst. "We think that Amazon will be a top logistics provider, whether it's in trucking or in air, in the coming years.
David Bronczek’s departure from FedEx will mean a multimillion-dollar cash payment for the longtime exec.
FedEx Corp. said its No. 2 executive David Bronczek is leaving the company and stepping down from its board, just a few weeks after the company veteran became a director. Both men have been replaced by Raj Subramaniam, who has spent 27 years at the company and until recently has been the chief marketing officer. Mr. Subramaniam, 52, will now serve as president and chief operating officer of the entire company, as well as CEO of the FedEx Express unit.
FedEx has a new president and COO effective March 1. Memphis-based FedEx Corp. announced Thursday, Feb. 14 that David Bronczek, president and chief operating officer for FedEx Corp. would retire at the start of next month. A news release stated it was a "personal decision to retire." Bronczek will be replaced by Raj Subramaniam.