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UPS

UPS

$119.07

1.74 (1.48%)

, FDX

FedEx

$153.86

3.97 (2.65%)

13:00
10/21/19
10/21
13:00
10/21/19
13:00

Fly Intel: What to watch in UPS earnings report

UPS (UPS) is scheduled to report results of its fiscal third quarter before the market open on Tuesday, October 22, with a conference call scheduled for 8:30 am ET. What to watch for: 1. GUIDANCE: When UPS reported its second quarter results on July 24, the company reaffirmed its fiscal 2019 adjusted earnings per share guidance of $7.45-$7.75 against analyst estimates of $7.45, at that time. UPS also announced that it sees adjusted free cash flow of $3.5B-$4B. Richard Peretz, UPS's CFO, said, "UPS grew profits across all business segments," said Richard Peretz, UPS's CFO. "Our performance was driven by the efficiencies created by investments in our network, the success of ongoing initiatives and our ability to execute in an ever-changing environment. We expect to carry this momentum through the upcoming quarters." 2. UPS FLIGHT FORWARD: On October 1, UPS subsidiary UPS Flight Forward announced it has received "the U.S. government's first full Part 135 Standard certification" to operate a drone airline. The company will initially expand its drone delivery service further to support hospital campuses around the country, and to provide solutions for customers beyond those in the healthcare industry. UPS Flight Forward plans in the future to transport a variety of items for customers in many industries, and regularly fly drones beyond the operators' visual line of sight. The U.S. Federal Aviation Administration awarded UPS Flight Forward a Part 135 Standard certification on Friday. The UPS subsidiary immediately launched the first drone delivery flight by any company under Part 135 Standard at WakeMed's hospital campus in Raleigh, N.C. under a government exemption allowing for a "beyond visual line of sight," or BVLOS operation, also "a first in the U.S. for a regular revenue-generating delivery," the company said. 3. FEDEX RESULTS: On September 17, FedEx (FDX) reported Q1 adjusted EPS of $3.05 and revenue of $17.05B against analyst expectations of $3.16 and $17.06B, respectively. Additionally, FedEx announced that it is unable to provide guidance for FY20. The company issued this statement regarding its guidance, "FedEx is unable to forecast the FY20 year-end mark-to-market retirement plan accounting adjustment. As a result, the company is unable to provide a FY20 EPS or effective tax rate outlook on a GAAP basis. FedEx is lowering its FY20 earnings forecast as the company's revenue outlook has been reduced due to increased trade tensions and additional weakening of global economic conditions since the company's initial FY20 forecast in June. The company's revised outlook also reflects increased FedEx Ground costs and August's loss of FedEx Ground business from a large customer. In addition, the FedEx ETR is now expected to be 24% to 26% before the year-end MTM retirement plan accounting adjustment, due to lower-than-expected earnings in certain non-U.S. jurisdictions. FedEx now forecasts earnings of $10.00 to $12.00 per diluted share before the year-end MTM retirement plan accounting adjustment, and earnings of $11.00 to $13.00 per diluted share before the year-end MTM retirement plan accounting adjustment and excluding TNT Express integration expenses. The capital spending forecast remains $5.9B." FedEx also announced that it will implement more cost-cutting to mitigate the effects of macroeconomic uncertainty, including post-peak reductions to the global FedEx Express air network to better match capacity with demand.

UPS

UPS

$119.07

1.74 (1.48%)

FDX

FedEx

$153.86

3.97 (2.65%)

  • 22

    Oct

  • 29

    Oct

  • 13

    Nov

  • 17

    Dec

UPS UPS
$119.07

1.74 (1.48%)

08/08/19
MSCO
08/08/19
NO CHANGE
MSCO
Equal Weight
Financial impact of Amazon break-up limited for FedEx, says Morgan Stanley
After various media sources indicated yesterday that FedEx (FDX) and Amazon (AMZN) each confirmed that they will not renew their ground-delivery contract, Morgan Stanley analyst Ravi Shanker said he thinks the financial impact to FedEx should be limited, but "the symbolic impact for Parcels is significant." One of the two largest e-commerce parcel delivery companies in the U.S. is no longer doing any business with the dominant e-commerce player, which "would have been unthinkable 5-7 years ago," wrote Shanker, who questions if UPS (UPS) cannot afford to similarly break up with Amazon given their outsized exposure to them as a customer. He also questions when Amazon's contract with UPS is up for renewal and what they will do when that happens given Amazon's recent history of suddenly pulling or not renewing deals, such as with FedEx and XPO Logistics (XPO). Shanker has an Equal Weight rating on FedEx and an Underweight rating on UPS.
08/26/19
DAIW
08/26/19
UPGRADE
Target $130
DAIW
Outperform
UPS upgraded to Outperform from Neutral at Daiwa
Daiwa analyst Jairam Nathan upgraded UPS to Outperform from Neutral and increased its price target to $130 from $116 citing structural strength. Nathan said UPS's integrated network is better positioned to take advantage of the trend towards shorter delivery times and expects 2020 margin improvements from Smart Logistics and Transformation Plans as they take hold. The analyst trimmed his 2020 earnings estimate to $8.10 from $8.30 to reflect higher pension expense, but expanded his multiple to account for structural improvements.
09/18/19
MSCO
09/18/19
NO CHANGE
Target $120
MSCO
Equal Weight
Hard to see rebound for FedEx despite earnings at trough, says Morgan Stanley
Morgan Stanley analyst Ravi Shanker previously believed it was too early to call a bottom for FedEx's (FDX) earnings, but he now thinks that its roughly 20% cut to its fiscal year guidance is big enough to finally call a potential bottom to earnings at the low end of the current outlook's range. However, there are still enough structural headwinds to keep earnings under pressure for a while and it is hard for him to see a path to a rebound, stating that "trough earnings alone is not a reason to buy the stock." Shanker, who is challenged to see a path to sustained growth in FY21+ for FedEx, keeps an Equal Weight rating on the stock and lowered his price target to $120 from $131. He also believes the read-across to UPS is negative given that the same cyclical pressures are at least partly applicable and he thinks the structural issues are more serious for UPS, on which Shanker keeps an Underweight rating.
09/23/19
LOOP
09/23/19
NO CHANGE
Target $140
LOOP
Buy
UPS 'confident and optimistic' in discussion with investors, says Loop Capital
Loop Capital analyst Rick Paterson kept his Buy rating and $140 price target on UPS (UPS) after hosting its VP of Investor Relations Aldred Williams for an investor meeting. The analyst notes that the demand to see the company's presentation was high and its commentary was "consistent" with its outstanding guidance as well as "balanced, confident and optimistic in spite of the current macro headwinds", adding that the productivity from UPS's new automated Ground hubs is meeting expectations. Paterson further states that although the company is impacted by the China trade tensions similar to FedEx's (FDX) discussed headwinds, the management also reflected on the opportunities around intra-Asia trade, Asia to Europe shipments, and U.S. domestic Next Day Air offers.
FDX FedEx
$153.86

3.97 (2.65%)

10/09/19
BERN
10/09/19
DOWNGRADE
Target $153
BERN
Market Perform
FedEx downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst David Vernon downgraded FedEx to Market Perform from Outperform with a $153 price target.
10/09/19
10/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Domino's Pizza (DPZ) downgraded to Hold from Buy at Argus with analyst John Staszak citing its worse than expected Q3 revenue and earnings along with its new 2-3 year outlook of global retail sales growth of 7%-10% - down from its prior 3-5 year outlook of 8%-12% growth. 2. FedEx (FDX) downgraded to Market Perform from Outperform at Bernstein. 3. Waters (WAT) downgraded to Underweight from Equal Weight at Barclays with analyst Jack Meehan saying as leading indicators of the macro environment continue to weaken, he sees risk to the outlook for Waters' Industrial sales exposure. 4. iRobot (IRBT) downgraded to Underperform from Market Perform at Raymond James with analyst Brian Gesuale saying he thinks Street models aren't reflecting the beginning of a meaningful commoditization cycle across the RVC category. 5. Lincoln Electric (LECO) downgraded to Hold from Buy at Stifel with analyst Nathan Jones saying he still sees Lincoln Electric as "one of the highest quality businesses" in his coverage universe thanks to its strong management and leading technologies, but believes that the headwinds in the company's end market will limit the upside for investors in the near term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/19
BREN
10/11/19
NO CHANGE
Target $155
BREN
Hold
FedEx price target lowered to $155 from $175 at Berenberg
Berenberg analyst William Howard lowered his price target for FedEx to $155 from $175 while keeping a Hold rating on the shares. Despite blaming its fourth profit warning in a year on global macroeconomics, it is clear that FedEx "is facing a cocktail of difficulties," Howard tells investors in a research note. These include the "grinding" integration of TNT Express, managing $900M of annualized lost revenue from Amazon, slowing industrial growth in the U.S., and the upcoming shift to seven-day delivery in its U.S. Ground business, says the analyst.

TODAY'S FREE FLY STORIES

GOOG

Alphabet

$1,298.76

-10.6 (-0.81%)

, GOOGL

Alphabet Class A

$1,297.98

-10 (-0.76%)

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Periodicals
State AGs gather in Colorado to go over Google antitrust probe, Reuters says »

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GOOG

Alphabet

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GOOGL

Alphabet Class A

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Facebook

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FNV

Franco-Nevada

$95.70

0.09 (0.09%)

17:03
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Hot Stocks
Franco-Nevada reports 133,219 Gold Equivalent Ounces sold in Q3 »

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FNV

Franco-Nevada

$95.70

0.09 (0.09%)

17:02
11/11/19
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Earnings
Franco-Nevada reports Q3 EPS 54c, may not compare to consensus 27c »

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ENR

Energizer

$43.11

-0.265 (-0.61%)

16:55
11/11/19
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Hot Stocks
Energizer appoints new CFO, Chief Legal Officer, and Chief Accounting Officer »

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LYV

Live Nation

$64.47

1.31 (2.07%)

16:52
11/11/19
11/11
16:52
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16:52
Upgrade
Live Nation rating change  »

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BUD

AB InBev

$78.70

0.22 (0.28%)

, BREW

Craft Brew

$7.33

0.06 (0.83%)

16:51
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Hot Stocks
Anheuser-Busch to buy remaining Craft Brew Alliance stake for $16.50 per share »

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BUD

AB InBev

$78.70

0.22 (0.28%)

BREW

Craft Brew

$7.33

0.06 (0.83%)

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CHAP

Chaparral Energy

$0.90

0.089 (10.99%)

16:47
11/11/19
11/11
16:47
11/11/19
16:47
Earnings
Chaparral Energy reports Q3 EPS ($2.86), consensus 2c »

Reports Q3 revenue…

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DXC

DXC Technology

$29.39

-0.69 (-2.29%)

16:43
11/11/19
11/11
16:43
11/11/19
16:43
Hot Stocks
DXC Technology says will pursue strategic alternatives for adjacent business »

In Q2 presentation…

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  • 11

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DXC

DXC Technology

$29.39

-0.69 (-2.29%)

16:41
11/11/19
11/11
16:41
11/11/19
16:41
Earnings
DXC Technology cuts FY20 EPS view to $5.25-$5.75 from $7.00-$7.75 »

Consensus $7.17. Cuts…

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LONE

Lonestar Resources

$2.88

0.08 (2.86%)

16:35
11/11/19
11/11
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16:35
Hot Stocks
Lonestar sees Q4 production 17,200-17,600 BOE/d »

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  • 12

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NFE

New Fortress Energy

$15.86

-0.88 (-5.26%)

16:34
11/11/19
11/11
16:34
11/11/19
16:34
Earnings
New Fortress Energy reports Q3 EPS (30c), consensus (16c) »

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TME

Tencent Music

$14.35

0.36 (2.57%)

16:34
11/11/19
11/11
16:34
11/11/19
16:34
Hot Stocks
Tencent Music reports Q3 online music Mobile MAUs up 0.9% »

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LONE

Lonestar Resources

$2.88

0.08 (2.86%)

16:33
11/11/19
11/11
16:33
11/11/19
16:33
Earnings
Lonestar has issued production guidance of 17,200 to 17,600 BOE/d for 4Q19. Prod »

Lonestar has issued…

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  • 12

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FEDU

Four Seasons Education

$2.08

0.09 (4.52%)

16:33
11/11/19
11/11
16:33
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16:33
Hot Stocks
Four Seasons Education appoints Yi Zuo CEO »

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LONE

Lonestar Resources

$2.88

0.08 (2.86%)

16:32
11/11/19
11/11
16:32
11/11/19
16:32
Earnings
Lonestar reports Q3 EPS 33c, may not compare to consensus (4c) »

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TME

Tencent Music

$14.35

0.36 (2.57%)

16:32
11/11/19
11/11
16:32
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16:32
Hot Stocks
Tencent Music reports Q3 online music payers up 42.2% at 35.4M »

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  • 11

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TME

Tencent Music

$14.35

0.36 (2.57%)

16:31
11/11/19
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16:31
Earnings
Tencent Music reports Q3 EPS 10c, consensus 9c »

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  • 11

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KKR

KKR

$29.27

0.14 (0.48%)

, WBA

Walgreens Boots Alliance

$62.26

3.06 (5.17%)

16:31
11/11/19
11/11
16:31
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16:31
On The Fly
Fly Intel: Wall Street's top stories for Monday »

Stocks were generally…

KKR

KKR

$29.27

0.14 (0.48%)

WBA

Walgreens Boots Alliance

$62.26

3.06 (5.17%)

EVR

Evercore Partners

$77.16

-1.14 (-1.46%)

BABA

Alibaba

$186.71

-0.4 (-0.21%)

LUV

Southwest

$58.27

0.1 (0.17%)

BA

Boeing

$366.97

16.32 (4.65%)

AAL

American Airlines

$30.58

-0.19 (-0.62%)

OTEX

OpenText

$42.54

0.99 (2.38%)

CARB

Carbonite

$22.93

4.54 (24.69%)

WE

We Company

$0.00

(0.00%)

TMUS

T-Mobile

$79.64

-1.28 (-1.58%)

S

Sprint

$5.91

-0.2 (-3.27%)

GOOG

Alphabet

$1,298.89

-10.47 (-0.80%)

GOOGL

Alphabet Class A

$1,298.21

-9.77 (-0.75%)

AAPL

Apple

$262.16

1.96 (0.75%)

AGEN

Agenus

$3.90

0.325 (9.10%)

URGN

UroGen Pharma

$24.16

0.59 (2.50%)

PLUG

Plug Power

$2.93

0.205 (7.54%)

MYOK

MyoKardia

$55.48

-4.51 (-7.52%)

SGMS

Scientific Games

$29.85

-1.74 (-5.51%)

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BEN

Franklin Resources

$27.95

-0.33 (-1.17%)

16:31
11/11/19
11/11
16:31
11/11/19
16:31
Hot Stocks
Franklin Resources reports preliminary AUM $693.1B as of October 31 »

Compared to $692.6B at…

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APYX

Apyx Medical

$7.23

0.25 (3.58%)

16:30
11/11/19
11/11
16:30
11/11/19
16:30
Earnings
Apyx Medical raises FY19 revenue view to $27.4M-$27.9M from $26.5M-$27.5M »

Consensus $26.97M. Sees…

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RETA

Reata Pharmaceuticals

$213.50

1.46 (0.69%)

16:30
11/11/19
11/11
16:30
11/11/19
16:30
Hot Stocks
Breaking Hot Stocks news story on Reata Pharmaceuticals »

Reata Pharmaceuticals…

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  • 12

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16:30
11/11/19
11/11
16:30
11/11/19
16:30
Options
Preliminary option volume of 14.8M today »

Preliminary option volume…

APYX

Apyx Medical

$7.23

0.25 (3.58%)

16:28
11/11/19
11/11
16:28
11/11/19
16:28
Earnings
Apyx Medical reports Q3 EPS (13c), consensus (18c) »

Reports Q3 revenue $7.6M,…

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  • 11

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  • 12

    Nov

KDMN

Kadmon

$2.99

-0.025 (-0.83%)

16:28
11/11/19
11/11
16:28
11/11/19
16:28
Hot Stocks
Kadmon's KD025 met primary endpoint in interim pivotal trial analysis of KD025 »

Kadmon Holding announced…

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EVKIF

Evonik

$0.00

(0.00%)

16:27
11/11/19
11/11
16:27
11/11/19
16:27
Upgrade
Evonik rating change  »

Evonik upgraded to Buy…

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