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☆ Market's overbought, but this year will be very good for investors: Sanctuary Wealth's Bartels
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket's overbought, but this year will be very good for investors: Sanctuary Wealth's BartelsMary Ann Bartels, chief investment strategist at Sanctuary Wealth, joins 'Squawk Box' to discuss her vantage point on equity markets, why FedEx's quarterly earnings results may not spell all bad news for markets, and more.

Persons: Wealth's Bartels Mary Ann Bartels

☆ CNBC Daily Open: Time to rethink the rally?
▼ + stars: | 2023-06-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 14, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally haltedU.S. markets closed in the red Tuesday, halting a rally that drove stocks to their highest levels in more than a year. The dinner symbolizes the White House's — and corporate America's — turn to India at a time when U.S.-China ties are fraying.

Persons: Hong, Narendra Modi, Joe Biden, Biden, Tim Cook, Alphabet's Sundar Pichai, Satya Nadella, Raj Subramaniam, Anthony Tan, Alex Hungate, Goldman Sachs, Goldman Organizations: New York Stock Exchange, CNBC, Japan's Nikkei, U.S, House, CYVN Holdings, Reuters Locations: New York City, Asia, Pacific, Hong Kong, India, China, Abu Dhabi, Nio, Singapore

☆ FedEx paring costs, grounding more planes as margin pressure persists
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

The global shipping downturn has hurt margins for the sector and FedEx's challenge is matching costs and capacity to lower demand. Last fiscal year, FedEx slashed 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries in a bid to cut $4 billion in permanent costs by the end of its 2025 financial year. For fiscal 2024, FedEx forecast flat to low-single-digit-percent revenue growth versus the prior year. The company said it would buy back $2 million of its common stock in the new fiscal year. He will remain a senior adviser to the company until Dec 31.

Persons: Raj Subramaniam, Michael Lenz, Priyamvada, Lisa Baertlein, Matthew Lewis, Cynthia Osterman, Jamie Freed Organizations: FedEx, Express, Thomson Locations: Bengaluru, Los Angeles

☆ UPS and FedEx are shrinking as packages evaporate. Automation could make the changes permanent.
▼ + stars: | 2023-04-27 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Revenue in the first quarter was down 6% and package volume was down by 5.4%. Both UPS and FedEx are downshifting and planning futures with smaller, more efficient networks. But beyond initial cuts, UPS and FedEx are leaning into technology upgrades to shrink strategically and emerge from the doldrums more efficient. The company has already begun the combination of Ground and Express, which will involve closing Express facilities and moving those operations into nearby Ground buildings. These networks have long acted as a moat around UPS and FedEx — making entering the delivery space so expensive it was rarely attempted.

☆ UPS and FedEx are clawing back ground from smaller package-delivery firms. Here's how the little guys plan to defend their share.
▼ + stars: | 2023-04-13 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Amazon, FedEx, UPS, and the postal service hold 97% of the US package delivery market. Smaller delivery companies were major beneficiaries of the pandemic boom times for e-commerce. "There was a long runway for these delivery companies when FedEx and UPS didn't want your business," said Derek Lossing, an Amazon Logistics alum who now advises investors. Smaller carriers are competing less with UPS and FedEx, and more with each other. UPS and FedEx will still be in the picture, but the smaller players can outperform them in some areas.

☆ FedEx is on the cusp of a seismic shift — and it will forever change the company as we know it
▼ + stars: | 2023-04-09 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

"We will be consolidating our operating companies into one unified organization," FedEx CEO Raj Subramaniam told investors Wednesday. The shift will make FedEx's operational strategies more like competitors UPS and DHL. Regulatory risk brings up an old questionThere may also be some risks coming to the new, integrated FedEx from outside the company. In a stark difference between UPS and FedEx, UPS falls under the National Labor Relations Act and FedEx Express under the Railway Labor Act. Betting the future on slower servicesThe third risk analysts raised was market share.

☆ FedEx is rolling out the biggest transformation in its 50-year history. The potential reward is huge, but so are the risks.
▼ + stars: | 2023-04-06 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Raymond James is optimistic on FedEx after the shipping giant announced Wednesday a cost-cutting restructuring plan. He retained his price target of $285 per share, which implies almost 24% upside from Wednesday's close price. DRIVE is FedEx's comprehensive $4 billion cost-cutting plan which includes consolidating FedEx Ground, FedEx Express and other operating companies into FedEx Services. Analyst Thomas Wadewitz has a buy rating on shares and sees the stock rising 13%. FedEx shares were up 1.3% Thursday before the bell.

☆ Jim Cramer's top 10 things to watch in the stock market Thursday: Wells upgrade, STZ reports, FedEx's new day
▼ + stars: | 2023-04-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Raises price target to $52 from $47. Charles Schwab (SCHW) price target slashed to $65 from $89 at Keefe Bruyette. Analyst keeps an outperform rating on shares, acknowledging risks to near-term earnings outlook, but says the sell-off is now overdone. Evercore ISI lowers price target to $535 from $545, but keeps outperform rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ FedEx to outline plans for fiscal 2024, 2025 cost reductions
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

LOS ANGELES, April 5 (Reuters) - FedEx Corp (FDX.N) on Wednesday will lay out the next steps in its plan to slash $4 billion in permanent costs by the end of fiscal 2025. Executives at the Memphis, Tennessee-based package delivery company last month said they were on track to hit $1 billion in permanent cost cuts this fiscal year ending May 31 - putting FedEx well on its way toward its 2025 goal. Most of those cost savings have come from FedEx's Express division that offers next-day delivery and contributes the largest share of company revenue. Among other things, FedEx has parked Express planes, retired older MD-11 aircraft and laid off 10% of officers and directors to reduce costs. Reporting by Lisa Baertlein in Los Angeles; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ FedEx shares rise following consolidation announcement
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFedEx shares rise following consolidation announcementCNBC's Frank Holland joins 'Squawk on the Street' to discuss FedEx's consolidation plans, employee restructuring, and dividend increase of 10%.

☆ Stocks making the biggest moves midday: Nvidia, Palantir, Western Alliance, Johnson & Johnson and more
▼ + stars: | 2023-04-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

The Western Alliance Bancorporation logo is seen in this photo illustration on 13 March, 2023 in Warsaw, Poland. This development would give U.S. government customers and industry partners access to enterprise-grade capabilities by Palantir and Microsoft. Western Alliance also said it has enough liquidity to cover the remaining uninsured deposits. Johnson & Johnson — Shares rose about 3%. Conagra Brands — The packaged goods food company rose 3% after topping Wall Street's expectations on the top and bottom lines for the recent quarter, according to FactSet.

☆ How Fred Smith's crown jewel, FedEx Express, became the company's problem child — and how FedEx can save it
▼ + stars: | 2023-03-30 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

FedEx Express, which does precisely-timed deliveries , has been struggling the most. FedEx is at a critical point in its 52-year evolution and founder Fred Smith's pride and joy — the company's Express delivery service — has become the firm's problem child. "Can FedEx Express shrink itself to prosperity?" "For a very long time, over 10 years, improved Ground service is diluting or cannibalizing existing Express deliveries," Maciuba said. "Was there a tremendous amount of fat in FedEx Express?

☆ FedEx warns it won't bail out UPS customers at the last minute if drivers strike
▼ + stars: | 2023-03-18 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

The Teamsters Union has threatened a UPS strike when its contract expires in July. UPS CEO Carol Tomé has repeatedly said that a "win-win-win" is "very achievable" for the Teamsters, UPS employees at large, and the company, despite the union's spicy rhetoric. But even the threat of a UPS strike this summer, which would be the first since 1997, is already driving some UPS customers to look for alternative shipping options. Carere also suggested that FedEx is not interested in serving as a temporary solution for UPS customers. FedEx customers were alerted to the March 31 in a letter distributed earlier this month.

☆ FedEx hikes 2023 earnings forecast as cost-cutting initiatives bear fruit
▼ + stars: | 2023-03-16 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +3 min

In this photo FedEx logo is seen in Washington D.C., United States on February 16, 2023. FedEx on Thursday hiked its full-year earnings forecast as it said cost-cutting measures offset continued demand weakness at units including FedEx Express. FedEx now expects adjusted earnings per share for fiscal year 2023 of between $14.60 and $15.20, up from a prior forecast of between $13.00 and $14.00. FedEx reported net income of $771 million for the period, down from $1.11 billion during the same quarter a year earlier. The company also said it expects volumes to improve in the current quarter and into its fiscal first quarter of next year.

☆ FedEx warns drivers not to throw packages or make 'obscene or offensive markings' on them
▼ + stars: | 2023-02-21 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

FedEx warned delivery contractors Monday not to throw packages, Insider has learned. The memo also warned against "offensive markings on packages and indecent public exposure." These actions range from package tossing and careless handling to obscene or offensive markings on packages and indecent public exposure," reads the memo. FedEx's Ground delivery service doesn't directly employ drivers like FedEx Express. Though on-time performance has largely recovered, the Monday memo from FedEx indicates further concern about the brand and drivers' impact on it.

☆ Some FedEx employees say layoffs are wrecking morale and chipping away at the famous loyalty that Fred Smith built
▼ + stars: | 2023-02-15 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Some insiders see the layoffs as a failure of leadership and fear a lasting shift in FedEx culture. But now, some also question if the company Smith built is changing for good. "The erosion just kept happening," said one former FedEx who left the company in the last year. Inside the company, employees are doing the back-of-the-envelope calculations on the cuts still to come — Subramaniam promised $4 billion and cuts this fiscal year. "There is still that emphasis that people are first at FedEx," said a 15-year FedEx veteran who left last year.

☆ A FedEx aircraft aborted landing to avoid a Southwest Airlines passenger jet that was mistakenly cleared for the same runway
▼ + stars: | 2023-02-05 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

A FedEx aircraft aborted its landing to avoid a Southwest Airlines jet on Saturday during heavy fog. Both were mistakenly cleared for the same runway at Austin Bergstrom International Airport. "The pilot of the FedEx airplane discontinued the landing and initiated a climb out," said the FAA. "Shortly before the FedEx aircraft was due to land, the controller cleared Southwest Flight 708 to depart from the same runway," the FAA said, per Reuters. Southwest Airlines, FedEx, and Austin-Bergstrom International Airport did not immediately respond to requests for comment from Insider.

☆ Citi upgrades FedEx to a buy as shipping giant focuses on controlling costs
▼ + stars: | 2023-02-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

After the mishaps of 2022, FedEx is "getting serious" about reducing and controlling its costs and that should bode well for the shipping giant, according to Citi. FDX YTD mountain FedEx shares are up nearly 17% in 2023. FedEx said in December it plans to cut costs by $1 billion in 2023 by closing offices and parking planes as demand softens and global volumes declines. The analyst also upgraded FedEx to buy and lifted the his price target to $233 from $204 a share, citing increasing confidence in the company's outlook. FedEx shares have jumped nearly 17% in 2023 after a 33% decline in 2022.

☆ FedEx to cut senior jobs as part of larger staff reduction
▼ + stars: | 2023-02-01 | by ( Lisa Baertlein | ) www.reuters.com time to read: +3 min

FedEx did not say how many positions would be affected by the new layoffs. In mid-September, FedEx pulled its profit forecast and shares swooned more than 20% - the largest single-day drop in the company's 50-year history. But those numbers only tell part of the story because they exclude roughly FedEx 6,000 contractors and their workers, who handle most of the FedEx Ground's home delivery business. FedEx already has temporarily furloughed workers at its trucking division FedEx Freight as the pandemic-fueled e-commerce delivery bubble deflates and recession threatens, joining transportation-focused companies ranging from delivery upstart Amazon.com (AMZN.O) and trucking company C.H. Robinson Worldwide (CHRW.O) to freight broker Uber Freight and freight forwarding startup Flexport in announcing layoffs.

☆ FedEx is laying off 10% of its officers and directors amid cooling demand
▼ + stars: | 2023-02-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Raj Subramaniam, FedEx Corporation, speaks at the U.S. Chamber of Commerce Aviation Summit in Washington, D.C. on March 5, 2020. FedEx is cutting more than 10% of its officers and directors, CEO Raj Subramaniam announced Wednesday, as the company slashes corporate jobs to cut costs amid cooling consumer demand. During its second-quarter earnings call with analysts, Subramaniam outlined what he called an "aggressive and decisive plan to cut costs in fiscal 2023." The shipping company on Tuesday posted a revenue decline in its fourth quarter, as shipping volumes continue to dip. To counteract slowing consumer demand, UPS also raised its shipping prices by 6.9% at the end of last year.

☆ FedEx is laying off more than 10% of managers in a cost-cutting crusade. Read the full memo from the CEO.
▼ + stars: | 2023-02-01 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +2 min

FedEx told staff it is in the process of laying off 10% of its officer and director team. The company has been on a cost-cutting crusade since the end of last year to rescue profits. Read CEO Raj Subramaniam's letter to staff below. The CEO said today's cuts, along with some consolidation of teams within the company, are intended to ensure the company remains competitive and agile. Read the full memo from CEO Raj Subramaniam to FedEx staff here:

☆ 2 looming problems are threatening to hammer FedEx — and that's not even counting the recession
▼ + stars: | 2022-12-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

FedEx CEO Raj Subramanian said the company is facing less demand due to an "e-commerce reset." "I think the main macro issue in the United States is really the e-commerce reset," FedEx CEO Raj Subramanian said on the call. Market share worriesThe question e-commerce-related businesses have been asking all year is how much of the pandemic growth will stick. Companies from Shopify to Paypal have taken the conservative view: that e-commerce growth will revert to where it was headed in 2019. He told Insider that UPS is growing faster with small and medium businesses, and is more profitable than FedEx.

☆ The brutal cold is disrupting last-minute UPS and FedEx deliveries and sending drivers sliding on icy roads. Here's where packages could be delayed.
▼ + stars: | 2022-12-22 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

FedEx's advisory said winter weather could affect shipments going through the company's Indianapolis and Memphis air hubs. "Potential service disruptions may not affect FedEx Express, FedEx Ground, FedEx Freight, FedEx Office, etc. UPS announced that severe winter weather is already affecting deliveries in North Dakota, South Dakota, and Nebraska — 314 zip codes in all. Though the weather system will be felt by most Americans Friday, some delivery drivers have already experienced snowy and icy conditions. At least one UPS and one FedEx Ground driver posted on Reddit photos of trucks stuck in snowy drifts.

☆ FedEx cost cuts stanch losses, analysts see need for more
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

Shares in FedEx rose 4.7% to $172 at midday Wednesday, a level far below their 52-week high of $266.79. FedEx has been underperforming its unionized rival United Parcel Service (UPS.N), which is squeezing greater profit from its leaner, more streamlined operating structure. FedEx has outlined plans to integrate its disparate businesses, revive its long-troubled Europe operations and appease activist investor D.E. On Tuesday, FedEx issued a new 2023 profit forecast, signaling that it may be "finding the floor," Susquehanna analyst Bascome Majors said. Reporting by Lisa Baertlein in Los Angeles; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

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