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Fly News Breaks for October 29, 2015
EXPD
Oct 29, 2015 | 10:03 EDT
Cleveland Research's checks indicate Expeditors' demand trends worsened through Q3 and into October due to lack of customer inventory builds with shippers focusing on lower inventory levels. Analyst Bryan Merolla lowered his 2016 earnings estimate to $2.34 versus the mean of $2.52 on a more cautious demand outlook and is modeling Q3 earnings of 59c versus the mean of 60c. Merolla has a Neutral rating on Expeditors shares.
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