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Search resuls for: "Shanker"


9 mentions found


☆ FedEx is slashing more Sunday deliveries, bolstering critics who say the strategy was a costly mistake
  + stars: | 2023-01-10 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +3 min
The company will end Sunday service in more zip codes to add to the savings, per an internal memo. Sunday service has been a pain point for both FedEx Ground and its 6,000 delivery contractors. A FedEx spokesperson told Insider via email that it will continue Sunday deliveries for "more than 50% of the U.S. population, primarily in densely populated areas with proven customer demand." Sunday service has been a point of tension for FedEx and the 6,000 delivery contractors that make doorstep deliveries for FedEx Ground, since many say demand for the service doesn't justify its cost. Multiple FedEx delivery contractors told Insider previous cuts to Sunday service made a noticeable positive difference in the health of their businesses.
☆ 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.
☆ Morgan Stanley says the market is underestimating these 9 travel and leisure stocks for 2023 as the industry enters a 'Goldilocks' year with surging demand
  + stars: | 2022-12-15 | by ( William Edwards | ) www.businessinsider.com   time to read: +3 min
But they will see more normalcy in 2023, Morgan Stanley says. But in 2023, things will get back to normal, Morgan Stanley analysts say, and investors are undervaluing stocks in the airline and hotel subsectors. The bank said the industries will be boosted by continued demand growth in business travel, and bigger travel budgets than existed in 2019. Below is data from a Morgan Stanley survey on corporate travel showing budget expectations for next year compared to 2019. Morgan StanleyThe analysts also expect Boeing, which manufactures airplanes, to benefit from increased flying demand.
☆ Morgan Stanley upgrades United Airlines, says 2023 could be 'goldilocks' year for airline
  + stars: | 2022-12-05 | by ( Sarah Min | ) www.cnbc.com   time to read: +1 min
It's time to buy shares of United Airlines , which could soar more than 50% next year, according to Morgan Stanley. Analyst Ravi Shanker upgraded shares of United Airlines to overweight from equal weight, saying that 2023 could be a "goldilocks" year for the airline. Leisure demand will remain strong, while corporate travel is expected to return to and exceed prepandemic levels in early 2023, according to the analyst. All this means that the risk-reward for airlines is attractive, even in the face of continued recessionary concerns. Shares of United Airlines are up slightly in 2022.
☆ Home improvement companies could see increased sales following Hurricane Ian, Wells Fargo says
  + stars: | 2022-09-28 | by ( Pippa Stevens | ) www.cnbc.com   time to read: +3 min
Wells Fargo said Wednesday that retail names exposed to the housing theme could see a "possible uptick in 2H Home Improvement demand." Fadem added that even beyond the possible uptick in sales from the storm, defensive positioning is warranted across hardline retailers. Wells Fargo said that the storm could contribute between 30 and 80 basis points of incremental quarterly comparisons across its home improvement coverage in Florida alone. Wells Fargo noted that the benefits to Floor & Decor Holdings, for example, depends on the extent of water damages. Wells Fargo said that while comparisons can be attractive quarter over quarter or year over year, it doesn't necessarily mean higher margins.
☆ FedEx's Shopify strategy could prove costly as e-commerce cools and logistics firms fight over small business, analysts say
  + stars: | 2022-09-23 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +5 min
The logistics giants are taking different paths when it comes to e-commerce platforms like Shopify. "Every entity in the parcel-delivery market — i.e., UPS, FedEx, USPS, Amazon Logistics, and every third party out there — is looking to that SMB customer," Shanker said. UPS and FedEx are taking opposite approachesMany small e-commerce businesses buy their shipping services through the online platforms they use to sell their products. "They want you to click on the FedEx logo because you think FedEx is great." "I think while FedEx talks about its focus on SMB shippers, I think UPS is actually executing on it," said Rick Watson, the CEO of RMW Commerce Consulting.
☆ FedEx shares sink after company cites weakening global demand
  + stars: | 2022-09-15 | by ( Jack Stebbins | ) www.cnbc.com   time to read: +3 min
Shares of FedEx closed down more than 21% Friday after the company posted bleak preliminary earnings, citing weakening demand in global shipment volumes. Morgan Stanley analyst Ravi Shanker said the report could indicate a return to normal as pent-up demand from the pandemic wanes. The updates from FedEx came alongside fiscal first-quarter earnings that fell well short of Wall Street expectations. The company was scheduled to release results and hold a conference call with executives next week, but issued the report early. For its fiscal second quarter the company expects adjusted earnings per share of at least $2.75 on revenue of between $23.5 billion to $24 billion.
☆ UPS is facing down a fight with its drivers' union over the weekend delivery it needs to compete with Amazon and FedEx
  + stars: | 2021-12-15 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +8 min
Several regular drivers told Insider they'd be happy to work for the extra pay— but it's not worth the aggravation. Why Saturdays stinkWhile weekday drivers generally have an assigned route and learn it intimately, weekend drivers are often handed a new itinerary every shift, drivers said. He'll have at least some support there: Several drivers told Insider that getting rid of the 22.4 position should be the Teamsters' top priority. Any carrier that devotes capacity to weekend service will "lose a ton of money," Shanker said, if retailers don't take advantage. UPS' weekend strategy may soon get a shakeup from a newly emboldened union — and some seriously frustrated drivers.
☆ The biggest threat to UPS and FedEx isn't Amazon. It's the gig economy.
  + stars: | 2021-04-27 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +8 min
Target's new delivery strategy shows FedEx and UPS are being disrupted by the gig economy. Top analysts see gig startups taking volume from UPS and FedEx. Gig delivery is leveling upOne gig driver delivering one order at a time isn't much of a competitive threat to the way UPS and FedEx move goods. Beyond same-day service, gig startups often offer live tracking and text updates for each order. On UPS' first quarter earnings call Tuesday, UPS CEO Carol Tomé acknowledged that gig logistics companies are competitors of UPS.
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