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FDX

FedEx

$251.26

0.37 (0.15%)

06:57
05/15/18
05/15
06:57
05/15/18
06:57

FedEx urges shareholders to reject below-market mini-tender offer by TRC Capital

FedEx received notice of an unsolicited "mini-tender" offer by TRC Capital to purchase up to 1M shares of FedEx common stock, representing 0.37% of FedEx's common stock outstanding as of March 19, 2018. The offer price of $239.95 per share in cash is 4.36% below the closing price of FedEx's common stock on May 11, 2018, the last trading day before the commencement of TRC Capital's offer. FedEx does not endorse TRC Capital's unsolicited mini-tender offer and is not associated in any way with TRC Capital, its mini-tender offer or its mini-tender offer documents. Because TRC Capital's offer price is below the current market price for FedEx's common stock, FedEx recommends that stockholders do not tender their shares to TRC Capital. Stockholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer, which is currently scheduled for 12:01 a.m., New York City time, on Wednesday, June 13, 2018. TRC Capital's mini-tender offer seeks less than 5% of FedEx's outstanding common stock, thereby avoiding many disclosure requirements and procedural protections of U.S. securities laws. In a statement to investors, the SEC cautioned investors that some bidders make mini-tender offers at below-market prices, saying it believes that these bidders are "hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price."

FDX FedEx
$251.26

0.37 (0.15%)

03/21/18
BMOC
03/21/18
NO CHANGE
Target $300
BMOC
Outperform
FedEx Q3 results reflect strong demand and high price growth, says BMO Capital
BMO Capital analyst Fadi Chamoun kept his Outperform rating and $300 price target on FedEx following the company's "messy" Q3 results. Chamoun notes that above-consensus revenues reflected strong demand and pricing growth was at its highest levels in years, even as EBIT of $1.1B was below the expected $1.3B on weaker than expected results in the Express segment. The analyst is also positive on the company's progress in Ground operating margins and stable capital expenditures supporting higher free cash flows. Chamoun raises his FY18 EPS view to $15.24 from $14.04 and revenue outlook to $65.3B from $64.5B.
03/21/18
03/21/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Myriad Genetics (MYGN) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Steve Beuchaw citing share price underperformance and improving cancer testing survey share trends. 2. FedEx (FDX) upgraded to Buy from Hold at Stifel with analyst David Ross saying he likes the company's "general earnings trajectory" following third quarter results. 3. Children's Place (PLCE) upgraded to Buy from Neutral at Citi with analyst Kate McShane saying the company reported another quarter of industry leading comps. 4. Catalent (CTLT) upgraded to Outperform from Market Perform at Raymond James with analyst Michael Baker saying shares are down 15% following the first quarter report on tough second half 2018 comps, and believes shares reflect this dynamic now. 5. WellCare (WCG) upgraded to Outperform from Market Perform at Wells Fargo with analyst Peter Costa saying he believes WellCare could benefit from significantly higher favorable prior period development in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/18
BARD
04/03/18
NO CHANGE
BARD
Outperform
USPS raising rates may accelerate Amazon's last-mile efforts, says Baird
Following the latest series of tweets from President Trump aimed at Amazon (AMZN), Baird analyst Colin Sebastian said the e-commerce giant "clearly" has risks to its shipping margins if the USPS increases fees. However, he would expect any significant contract changes would see Amazon reallocate volume to UPS (UPS) and FedEx (FDX) as well as accelerate the pace of its internal last-mile delivery efforts. Sebastian also points out that data indicate that the number of U.S. e-commerce jobs added since the end of the recession far exceeds the net decrease in physical retail jobs and Amazon's less than 5% market share "deems anti-trust a non-issue" in his view. He keeps an Outperform rating and $1,600 price target on Amazon shares.
04/25/18
DBAB
04/25/18
NO CHANGE
DBAB
Amazon to see modest impact from Postal Service review, says Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley believes President Trump's task force to scrutinize the finances of the U.S. Postal Service will have only a modest impact on Amazon.com (AMZN). The potential outcomes look "much more benign for Amazon than headlines and bluster would suggest," Walmsley tells investors in a research note, citing Postal Regulatory Commission data and discussions with industry contacts. Further, the analyst sees "potentially significant positive implications" for both FedEx (FDX) and UPS (UPS).

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