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FDX

FedEx

$220.50

4.5 (2.08%)

, TNTEY

TNT Express

06:14
09/21/17
09/21
06:14
09/21/17
06:14

FedEx raises TNT Express integration costs by $75M

In a regulatory filing, FedEx (FDX) said that "During the remainder of 2018, we will continue to execute our TNT Express (TNTEY) integration plans. The integration process is complex as it spans over 200 countries and involves combining our pickup and delivery operations at a local level, our global and regional air and ground networks, and our extensive operations, customs clearance, sales and back-office information technology systems. The integration is expected to be completed by the end of 2020. We expect the aggregate integration program expense, including restructuring charges at TNT Express, over the four years to be approximately $800M and expect to incur approximately $350M of these costs during 2018. Our expected 2018 integration expenses are approximately $75M higher than our previous estimates, as we are accelerating portions of our TNT Express integration given the recent cyberattack. We continue to refine our integration plans, however, particularly in light of the recent cyberattack at TNT Express. The timing and amount of integration expenses and capital investments in any future period may change as we implement our plans."

FDX

FedEx

$220.50

4.5 (2.08%)

TNTEY

TNT Express

  • 21

    Sep

  • 25

    Sep

FDX FedEx
$220.50

4.5 (2.08%)

09/20/17
FBCO
09/20/17
NO CHANGE
Target $233
FBCO
Outperform
FedEx price target lowered to $233 from $242 at Credit Suisse
Credit Suisse analyst Allison Landry lowered her price target for FedEx to $233 from $242 on weaker than expected results and guidance. The analyst reiterates an Outperform rating on the shares.
09/20/17
LOOP
09/20/17
NO CHANGE
LOOP
FedEx price target raised to $260 from $250 at Loop Capital
Loop Capital analyst Rick Paterson raised his price target on FedEx after the company reported much lower than expected Q1 EPS. The analyst blamed the miss on a cyberattack and Hurricane Harvey. The analyst notes that the company expects FedEx Ground's operating income to rise this year, while it reiterated its operating income target for its Express unit. The analyst says that the stock "will have no choice" but to rise if the company continues to reiterate the latter target. He keeps a Buy rating on the shares.
09/20/17
BMOC
09/20/17
NO CHANGE
BMOC
FedEx cyberattack 'transient,' says BMO Capital
BMO Capital analyst FadiChamoun,says that the cyberattack on FedEx is a "transient" issue, and the analyst thinks that the company's fundamentals remain "solid" in the wake of its Q1 results. The analyst continues to believe that its EPS can rise significantly in the next three years, and keeps a $216 price target and an Outperform rating on the shares.
09/15/17
09/15/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Equifax (EFX) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg citing news of a major hack on the company's data that could have lasting effects. 2. FedEx (FDX) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing TNT issues following the cyber-attack in June that knocked out multiple systems. 3. Carnival (CCL) downgraded to Neutral from Outperform at Credit Suisse with analyst Tim Ramskil saying he is worried that his estimate of absolute industry capacity growth in 2018-2021 is double that of the last five years. 4. American Airlines (AAL), United Continental (UAL), and Spirit Airlines (SAVE) were downgraded to Neutral from Overweight at JPMorgan. 5. Acuity Brands (AYI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Richard Kwas saying his firm's electrical channel checks indicate the 8% consensus organic revenue growth estimate for FY18 does not have upside. The analyst thinks shares are likely range-bound in the $160-$200 range "for the time being." He believes a "material step up" in tiered solutions growth is needed for gross margin to outperform expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TNTEY TNT Express

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QCOM

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ETP

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RCII

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AAPL

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SPB

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MO

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QCOM

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BA

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UNIT

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TROW

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BA

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