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☆ Stocks firm, dollar on edge ahead of Fed decision
▼ + stars: | 2023-02-01 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The Fed will announce its rate decision at 1900 GMT, followed by a news conference with Chair Jerome Powell half an hour later. Currency trade has been in a holding pattern ahead of the Fed and Bank of England and European Central Bank meetings that follow on Thursday. But the U.S. wages data wiped out some small dollar gains made earlier this week amid some nerves that the Fed sticks to its hawkish stance. United Parcel Service (UPS.N), the world's biggest package delivery firm, beat forecasts and shares rose 4.7%. Prices for dollar bonds in Adani Group companies were steadying in Asia trade on Wednesday after last week's rout.

☆ Jim Cramer's top 10 things to watch in the market Wednesday: Fed Day, AMD, Snap signal
▼ + stars: | 2023-02-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Fed Day: The central bank is expected to raise the interest rates by a quarter-point to the range of 4.50% to 4.75%. UBS downgrades Snap (SNAP) to hold from buy with an unchanged price target of $10, and says business is really soft. Club stock Humana (HUM) topped earnings estimates Wednesday morning with revenue in line, great guide. In its quarterly report Wednesday, the exercise equipment said subscription revenue better than hardware sales, noted significant outperformance for connected fitness. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

REUTERS/Charles PlatiauCHICAGO/DETROIT, Jan 31 (Reuters) - The companies that produce goods at the heart of the U.S. consumer economy - SUVs, washing machines, heavy equipment and hamburgers - kept rolling along at the end of 2022. Bellwethers including McDonald's (MCD.N), General Motors, Exxon Mobil (XOM.N), appliance maker Whirlpool (WHR.N) and delivery giant United Parcel Service (UPS.N), posted results that exceeded estimates. That's a good sign for the broader economy, according to Lori Calvasina, equity analyst at RBC Capital Markets. The economy's performance may depend on whether price pressures that have afflicted consumer and business spending start to wane. "As we go into 2023, there is going to continue to be inflation," said Christopher Kempczinski, McDonald's CEO, on the company's earnings call Tuesday.

☆ UPS Prepares for Slowdown in Global Delivery Volumes
▼ + stars: | 2023-01-31 | by ( Esther Fung | Dean Seal | ) www.wsj.com time to read: 1 min

United Parcel Service Inc. is girding its business against a slowdown in global delivery volumes as it advised that annual revenue could decline for the first time in years. The Atlanta-based delivery company said Tuesday that it expects revenue of between $97 billion and $99.4 billion in 2023, down from $100.3 billion last year.

☆ UPS Earnings Show Drop in Holiday Sales on Fewer Shipments
▼ + stars: | 2023-01-31 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

United Parcel Service Inc. posted a decline in fourth-quarter revenue after delivering fewer items during the holidays and projected that its top line will fall in the current year amid a slowdown in global trade. The Atlanta-based delivery company said Tuesday that it expects revenue of between $97 billion and $99.4 billion in 2023, down from $100.3 billion last year. UPS last posted an annual sales decline in 2015, according to FactSet.

☆ UPS beats profit view on high-margin deliveries, boosts shareholder returns
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] A United Parcel Service (UPS) vehicle reverses into a facility in Queens, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly/File PhotoJan 31 (Reuters) - United Parcel Service Inc (UPS.N) on Tuesday beat expectations for quarterly adjusted profit, as it prioritized shipments of high-margin parcels and kept a tight lid on costs amid a softening e-commerce environment. UPS reported an adjusted profit of $3.62 per share for the fourth quarter ended Dec. 31, above Wall Street's expectations of $3.59 per share. UPS forecast 2023 full-year revenue between $97.0 billion and $99.4 billion, compared with analysts' expectations of $99.98 billion, as per Refinitiv data. Reporting by Lisa Baertlein in Los Angeles And Shivansh Tiwary in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Jan 31 (Reuters) - U.S. stock indexes were set to open higher on Tuesday after wage growth data pointed to easing inflation ahead of the Federal Reserve's decision on interest rates. U.S. labor costs increased less than expected last quarter as wage growth slowed, suggesting that the central bank's aggressive approach to taming inflation was taking hold. "Labor costs are still high, but this means costs have come down, and that's a key factor for future wage inflation." The U.S. 10-year Treasury yield fell after the labor costs data, and was last at 3.50% compared to 3.55% on Monday. The world's largest parcel delivery firm United Parcel Service(UPS.N) also added 1.9% on strong quarterly earnings.

☆ Stocks making the biggest moves midday: GM, McDonald's, UPS, Pulte, International Paper and more
▼ + stars: | 2023-01-31 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

The company reported an adjusted $2.12 per share on $43.11 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. Smith — Shares skyrocketed 13.7% after the manufacturing company reported earnings of $0.86 per share, beating consensus estimates. UPS also raised its dividend and sanctioned a new $5 billion stock repurchase plan. Pentair — Shares of Pentair surged 9.2% after the water treatment company reported earnings that topped Wall Street estimates for earnings and revenue.

☆ Stocks making the biggest moves premarket: McDonald's, UPS, General Motors and more
▼ + stars: | 2023-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The company reported an adjusted $2.12 per share on $43.11 billion in revenue. United Parcel Service – Shares of UPS rose 1.9% after the company reported earnings that beat analyst expectations. The company reported earnings of $3.86 per share, well below a Refinitiv consensus estimate of $4.06 per share. The company reported $3.63 in adjusted earnings per share on $5.17 billion of revenue. Wall Street analysts were expected $2.93 in earnings per share on $4.58 billion of revenue, according to StreetAccount.

U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, bolstering expectations of the Fed slowing the pace of its interest rate increases. "As the Fed meeting begins today, they'll be looking at every index that could give them a better judgment on inflation and this is one of them," said Peter Cardillo, chief market economist at Spartan Capital Securities LLC. "Labor costs are still high, but this means costs have come down, and that's a key factor for future wage inflation." United Parcel Service (UPS.N) jumped 4% on strong quarterly earnings, boosting the Dow Jones Transport Average index (.DJT). The S&P index recorded four new 52-week highs and no new low, while the Nasdaq recorded 32 new highs and 14 new lows.

☆ Morning Bid: Fed games
▼ + stars: | 2023-01-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Feb 1 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed. Risk appetite was largely fueled by economic data, specifically the Employment Cost Index (ECI) which decelerated in the fourth quarter to its slowest growth in a year - yet another sign that decades-high inflation is beginning to cool. This is welcome news for the Fed, which is expected to punctuate its two-day monetary policy meeting on Wednesday with a 25 basis point hike to the Fed funds target rate, its latest salvo in its battle against inflation. On Wednesday, market participants will digest factory and labor market data and parse the Fed's statement and Chairman Jerome Powell's remarks at the subsequent press conference.

☆ UPS revenue falls short of expectations despite growth in U.S. business
▼ + stars: | 2023-01-31 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Total revenue: $27.03 billion vs $28.09 billion. It is projecting revenue between $97 billion and $99.4 billion, versus analyst's estimates of $99.98 billion. In the fourth quarter, revenue for UPS's domestic segment, which makes up about two-thirds of the company's revenue and most of its business-to-consumer transactions, grew 3%. Last quarter, UPS also announced it would cut $500 million in capital expenditures by, for example, leasing rather than buying certain locations. The shipping company's shares fell over 10% in 2022 as consumer spending adjusted to inflation and came down from pandemic highs.

☆ Fasten your seatbelts
▼ + stars: | 2023-01-30 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Wall Street's downbeat start to an action-packed week has set a bumpy course for Asian markets on Tuesday. The Bank of England and the European Central Bank are poised to follow the Fed by hiking crucial interest rates by a more aggressive 50 basis points. Meta Platforms Inc (META.O) waits in the wings on Wednesday, with Apple Inc (AAPL.O), Amazon.com (AMZN.O) and Alphabet Inc (GOOGL.O) on deck for Thursday. Those policies have since been relaxed, sparking hopes of demand revival in China, which could take some of the sting of restrictive central bank policy.

☆ Morning Bid: Fasten your seatbelts
▼ + stars: | 2023-01-30 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Tesla plans $3.6 bln Nevada expansion to make Semi truck, battery cells
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

The cell plant would be able to make enough batteries for 2 million light-duty vehicles annually, including batteries using the 4680-type cell. The 4680 is key to Tesla meeting a goal of halving battery costs and ramping up battery production nearly 100-fold by 2030. Panasonic currently supplies cells to the gigafactory, and Tesla assembles them into battery packs there. Tesla has struggled to ramp up production of the 4680 at its factories in Fremont, California, and Austin, Texas. The EV maker aimed to produce 50,000 Semis in 2024, Musk said on a post-earnings call in October.

PREVIEWDave Edwards, the chief executive at Greenville-Spartanburg, said just over a decade ago his airport had no international air cargo operations. BMW today accounts for about a quarter of Greenville-Spartanburg’s roughly 15 international cargo flights a week. Air cargo volumes fell through most of last year as manufacturers and retailers pulled back on orders because of slowing consumer spending. Rockford, about 70 miles from Chicago O’Hare International Airport, has become one of the most successful regional airports for cargo. It is a hub for United Parcel Service Inc. and has attracted air operations for companies including Amazon.com Inc., DSV and A.P.

☆ Tesla invests $3.6 bln to expand Nevada complex with two factories
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Tesla Inc (TSLA.O) said on Tuesday it would invest more than $3.6 billion to expand its Nevada manufacturing complex with two new factories, including the first facility to mass produce its long-delayed Semi electric truck. The 18-wheeler truck has a range of 500 miles on a single charge and can carry 81,000 pounds including the cargo. Tesla Chair Robyn Denholm said in November that Tesla might produce 100 Semis in 2022, but the company did not disclose any figure in its fourth-quarter production report. The EV maker aims to produce 50,000 of the trucks in 2024, Musk had said on a post-earnings call in October. Reporting by Akash Sriram and Aditya Soni in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ NYSE's Tuesday trading glitch explained — Why some of the trades may be busted
▼ + stars: | 2023-01-24 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Dozens of stocks opened at prices well above or below their prior day closing prices. Every day, stocks open at the NYSE at or near 9:30 a.m. There is only a single opening price, which is determined by thousands of orders to buy and sell individual stocks. A single price is then quoted at the open and all orders are aggregated into a single opening "auction print." Most likely, the "correct" opening price will be the price when the stocks reopened.

☆ Small Package-Delivery Companies Grow as Businesses Seek Alternatives to UPS, FedEx
▼ + stars: | 2023-01-23 | by ( Esther Fung | ) www.wsj.com time to read: 1 min

Smaller parcel carriers made big gains during the pandemic handling packages that the larger players couldn’t deliver. Some want to get bigger. Regional shipping companies across the U.S. are expanding their operations to pick up business from bigger rivals, seeking to capitalize on labor uncertainty at United Parcel Service Inc., higher rates charged by UPS and FedEx Corp. and growing reluctance among merchants to rely on a single carrier.

FAA officials said a preliminary review traced the outage to a damaged database file, but added there was no evidence of a cyberattack and the investigation was continuing. FAA officials said they were working to "further pinpoint the causes" so the problem can be avoided in the future. One issue airlines are facing is trying to get planes in and out of crowded gates, which is causing further delays. He described confusion as airline employees and many passengers were initially unaware of the FAA's moves and flight delays. The U.S. Travel Association, which represents the travel industry including airlines, called the FAA system failure "catastrophic."

☆ C.H. Robinson Reaches Standstill Agreement With Activist Investor
▼ + stars: | 2023-01-10 | by ( Paul Berger | ) www.wsj.com time to read: +4 min

Robinson Worldwide Inc. has reached an agreement to work with its activist investors as analysts said new board member Jim Barber would be a strong candidate to lead the company. Robinson’s board. Robinson’s then board chair as interim CEO as the board said it would start an immediate search for a permanent successor. Robinson’s board, said Monday that Mr. Biesterfeld’s firing was a board decision. Robinson has retained executive search firm Russell Reynolds Associates Inc. to find a permanent chief executive.

☆ CIO 2023 Priorities: Speed and Agility
▼ + stars: | 2022-12-30 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

Technology executives in a recent CIO Journal end-of-year survey shared their priorities for 2023. In addition to delivering on a company’s technology goals, business technology executives have been navigating tricky waters over the past year as a result of rising interest rates, a tumultuous geopolitical landscape and stubborn inflation. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Alessandro Ventura, Unilever North America’s CIO and vice president of analytics and business services. “Nobody has a crystal ball,” Mr. Ventura said.

☆ FedEx, UPS warn severe winter storm could delay holiday packages, and airlines cut more flights
▼ + stars: | 2022-12-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

FedEx and United Parcel Service warned that packages could be delayed as a massive winter storm brought high winds, bitter cold and snow to large swaths of the U.S. ahead of Christmas weekend. The severe weather was already snarling air travel during what is expected to be a busy week for airlines. "FedEx Express experienced substantial disruptions at our Memphis and Indianapolis hubs last night due to severe winter weather that has been moving across the United States," FedEx said Friday. It said packages set for delivery on Friday and Saturday, which is Christmas Eve, could be delayed across the U.S.UPS said severe weather "across several regions of the U.S. are impacting the UPS Air and Ground network, including UPS hubs in Louisville, Kentucky and Rockford, Illinois. As a result, some delivery and pickup services in these areas will be affected."

☆ FedEx, other shippers warn extreme weather will delay some U.S. holiday gift deliveries
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - A severe winter storm gripping most of the United States threatens to delay millions of last-minute Christmas gift deliveries due to shutdowns at major shipping hubs. FedEx (FDX.N), United Parcel Service (UPS.N), the U.S. Postal Service and Amazon.com (AMZN.O) alerted customers that severe weather was disrupting key operations in Tennessee, Indiana, Kentucky, Illinois, the Dakotas and other areas hard-hit by strong winds, bitter cold and blizzards. UPS and FedEx told Reuters they have contingency plans in place if severe weather shuts or idles cargo planes and delivery trucks. As a result, shipping companies have ample capacity to handle this year's holiday delivery surge, Jindel said.

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