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UPS

UPS

$116.01 /

+0.68 (+0.59%)

, FDX

FedEx

$149.05 /

+0.65 (+0.44%)

12:50
01/29/20
01/29
12:50
01/29/20
12:50

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 Thursday, January 30, with a conference call scheduled for 8:30 am ET. What to watch for: 1. GUIDANCE: When UPS reported its second quarter results on October 24, 2019, the company reaffirmed its fiscal 2019 adjusted earnings per share guidance of $7.45-$7.75 against analyst estimates of $7.51, at that time. UPS also announced that it sees adjusted free cash flow of over $4B. Richard Peretz, UPS's CFO, said, "Positive impacts from our transformation initiatives are visible in our results as we continue to improve network efficiencies and create new solutions that will open more growth opportunities well into the future." Adjusted free cash flow for the year is projected to be over $4B. Capital investments have been reduced in both 2019 and 2020 by about $500M each year. Network automation targets and other transformation goals remain unchanged. The effective tax rate for the full year 2019 is estimated to be between 22% and 23%. 2. FEDEX RESULTS: On December 17, 2019, FedEx (FDX) reported Q2 adjusted EPS of $2.51 and revenue of $17.3B against analyst expectations of $2.76 and $17.58B, respectively. Additionally, FedEx forecast FY20 diluted EPS of $9.10-$10.35 before the year-end MTM retirement plan accounting adjustment, and diluted EPS of $10.25-$11.50 before the year-end MTM retirement plan accounting adjustment and excluding TNT Express integration expenses and aircraft impairment charges. "Our revised guidance reflects lower-than-expected revenue at each of our transportation segments and higher-than-expected expenses driven by continued mix shift to residential delivery services," said FedEx CFO Alan Graf, Jr. "In response, we are implementing reductions to the global FedEx Express air network to better match capacity with demand. We are also further restricting hiring and pursuing opportunities to optimize our networks, including investments in technology aimed at improving our productivity and lowering our costs." 3. UPS SUPER HUB CENTERS: On January 29, UPS announced it will bring online substantial processing capacity globally at 20 new or remodeled, highly automated, data-driven facilities in 2020. The projects, as part of enterprise-wide transformation initiatives, will add more than 5M square feet of new automated sortation globally, well ahead of the 2020 holiday season. Innovative technology provides increased efficiency and additional flexibility for routing packages, with visibility tools and leading edge analytics optimizing volume and processing capacity alignment across UPS's smart global logistics network. UPS announced a commitment of approximately $1.4B to significant facility enhancements in Pennsylvania, as part of the company's major capacity expansions in 2020.

UPS

UPS

$116.01 /

+0.68 (+0.59%)

FDX

FedEx

$149.05 /

+0.65 (+0.44%)

  • 30

    Jan

  • 17

    Mar

UPS UPS
$116.01 /

+0.68 (+0.59%)

01/02/20 Citi
Citi remains 'tactically cautious' on UPS into Q4 results
12/18/19 Morgan Stanley
FedEx's big miss and guide down has negative read to UPS, says Morgan Stanley
12/17/19 BofA
UPS added to US 1 List, Knight-Swift removed at BofA/Merrill
12/12/19 Morgan Stanley
Morgan Stanley cuts UPS, FedEx price targets on growing Amazon risk
FDX FedEx
$149.05 /

+0.65 (+0.44%)

01/13/20 BofA
FedEx activism risk filing addition of interest to investors, says BofA
12/24/19
Fly Intel: Top five analyst actions
12/24/19 Argus
FedEx downgraded to Hold from Buy at Argus
12/24/19 Argus
FedEx downgraded to Hold from Buy at Argus

TODAY'S FREE FLY STORIES

Periodicals
Internet doing just fine during pandemic, Barron's says » 09:52
04/04/20
04/04
09:52
04/04/20
09:52
VZ

Verizon

$54.72 /

-0.52 (-0.94%)

, T

AT&T

$27.46 /

-1.305 (-4.54%)

, CMCSK

Comcast

$0.00 /

+ (+0.00%)

, CMCSA

Comcast

$33.94 /

-0.43 (-1.25%)

, NFLX

Netflix

$361.76 /

-8.37 (-2.26%)

, AMZN

Amazon.com

$1,905.33 /

-11.69 (-0.61%)

, AAPL

Apple

$241.43 /

-3.27 (-1.34%)

With everyone stuck…

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Periodicals
Google, Facebook can't save advertising industry this time, Barron's says » 09:21
04/04/20
04/04
09:21
04/04/20
09:21
GOOGL

Alphabet Class A

$1,092.51 /

-24.78 (-2.22%)

, GOOG

Alphabet

$1,097.93 /

-25.87 (-2.30%)

, TWTR

Twitter

$23.08 /

+0.07 (+0.30%)

, FB

Facebook

$154.19 /

-3.92 (-2.48%)

Across the media…

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On The Fly
Week in Review: How Trump's policies moved stocks » 07:29
04/04/20
04/04
07:29
04/04/20
07:29
XOM

Exxon Mobil

$39.20 /

-1.19 (-2.95%)

, CVX

Chevron

$75.15 /

-1.07 (-1.40%)

, NBL

Noble Energy

$6.17 /

-0.12 (-1.91%)

, XEC

Cimarex Energy

$16.85 /

+0.4 (+2.43%)

, FANG

Diamondback Energy

$31.58 /

+2.53 (+8.71%)

, RDS.A

Royal Dutch Shell

$36.24 /

-2.78 (-7.12%)

, RDS.B

Royal Dutch Shell

$34.42 /

-2.36 (-6.42%)

, DVN

Devon Energy

$8.38 /

+0.59 (+7.57%)

, BP

BP

$24.72 /

-1.32 (-5.07%)

, COP

ConocoPhillips

$32.90 /

-0.945 (-2.79%)

, MRO

Marathon Oil

$3.65 /

+0.195 (+5.65%)

, BAC

Bank of America

$20.03 /

-0.535 (-2.60%)

, WFC

Wells Fargo

$26.23 /

-0.98 (-3.60%)

, C

Citi

$37.48 /

-1.82 (-4.63%)

, JPM

JPMorgan

$84.08 /

-1.57 (-1.83%)

, MMM

3M

$133.90 /

-3.96 (-2.87%)

, VMC

Vulcan Materials

$99.66 /

-7.52 (-7.02%)

, EXP

Eagle Materials

$49.80 /

-4.32 (-7.98%)

, GVA

Granite Construction

$14.13 /

-1.4 (-9.01%)

, NUE

Nucor

$35.63 /

-0.38 (-1.06%)

, PWR

Quanta Services

$30.56 /

-0.07 (-0.23%)

, J

Jacobs

$78.99 /

-2.26 (-2.78%)

, MLM

Martin Marietta

$169.65 /

-11.07 (-6.13%)

, DDAIF

Daimler AG

$0.00 /

+ (+0.00%)

, FCAU

Fiat Chrysler

$6.73 /

-0.07 (-1.03%)

, F

Ford

$4.24 /

-0.105 (-2.42%)

, GM

General Motors

$18.03 /

-0.15 (-0.83%)

, HMC

Honda

$19.85 /

-1.05 (-5.02%)

, NSANY

Nissan

$0.00 /

+ (+0.00%)

, TSLA

Tesla

$479.71 /

+25.715 (+5.66%)

, TM

Toyota

$115.08 /

-2.71 (-2.30%)

, VWAGY

Volkswagen

$0.00 /

+ (+0.00%)

Catch up on the top…

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Conference/Events
Roth Capital biotech analysts to hold an analyst/industry conference call » 04:55
04/04/20
04/04
04:55
04/04/20
04:55

Biotech Analysts, along…

Biotech Analysts, along with Dr. Juan Frias, discuss Non-Alcoholic SteatoHepatitis (NASH) on an Analyst/Industry conference call to be held on April 3 at 12 pm.

Periodicals
Bayer terminated Roundup weedkiller draft settlement, WSJ reports » 18:41
04/03/20
04/03
18:41
04/03/20
18:41
BAYRY

Bayer

$0.00 /

+ (+0.00%)

Bayer extended talks on…

Bayer extended talks on the settlement through April, WSJ reports.

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Hot Stocks
Commvault adopts limited duration shareholder rights plan » 18:40
04/03/20
04/03
18:40
04/03/20
18:40
CVLT

Commvault

$38.31 /

-0.05 (-0.13%)

Commvault announced that…

Commvault announced that its Board of Directors has adopted a limited duration shareholder rights plan. The Rights Plan expires on April 1, 2021. Pursuant to the Rights Plan, the company is issuing one right for each share of common stock outstanding at the close of business on April 13, 2020. The rights will become exercisable only if an entity, person or group acquires beneficial ownership of 10% or more of the company's common stock, or 20% in the case of certain passive investors. Any person or group owning above the applicable threshold at the time of public announcement of the Rights Plan will cause the rights to become exercisable only if the person or group acquires beneficial ownership of additional common stock. When the rights become exercisable, each holder of a right will be entitled to purchase, at the then-current exercise price (which was initially set at $200.00 per right), additional shares of common stock having a value of twice the exercise price of the right (a 50% discount). Rights held by any entity, person or group whose actions trigger the Rights Plan, and those of certain related parties, would become void. Prior to the rights becoming exercisable, the rights are redeemable for $0.01 per right at the option of the Board.

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Periodicals
Southwest applies for U.S. grant to cover employee costs, Bloomberg says » 18:37
04/03/20
04/03
18:37
04/03/20
18:37
LUV

Southwest

$30.53 /

-0.97 (-3.08%)

The company is seeking…

The company is seeking talks on aid terms over the next few days and is evaluating all sources of capital, Bloomberg reports.

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Hot Stocks
Two Harbors estimates book value 'has not changed materially' » 18:31
04/03/20
04/03
18:31
04/03/20
18:31
TWO

Two Harbors

$2.42 /

-0.985 (-28.97%)

Two Harbors provided the…

Two Harbors provided the following updates with respect to its business, through the close of business on April 3. "As a result of our portfolio management decisions in recent weeks, our liquidity position remains quite strong. We continue in our efforts to be prudent risk managers and are confident that we will continue to be in a position to meet margin calls in the ordinary course of our business. Previously we reported that we completed the sale of substantially all of our non-Agency portfolio; subsequent to that, we have sold additional non-Agency securities reducing that exposure to a de minimis level. With the disposition of this position, we have eliminated the risk of outsized margin calls and ongoing funding concerns associated with the significant widening on these assets. The repo markets for Agency RMBS continue to function well and we have experienced no issues in accessing this source of funding. The actions taken by the Federal Reserve to purchase Agency RMBS have been successful in stabilizing the market and our portfolio has benefitted from the resulting spread tightening. We are encouraged by the continued focus by the Treasury, Federal Reserve, FHFA and other governmental agencies on servicing advance issues that will be attendant to the mortgage loan forbearance programs announced in connection with the CARES Act. As the servicer of record for the MSR assets in our portfolio, we are responsible for continuing to advance principal, interest, taxes and insurance on mortgage loans that are in forbearance, delinquency or default. Although the potential aggregate size of the servicing advance obligations is not known, at this time we believe that we will be well positioned from a liquidity standpoint to continue to make servicing advances in the future. This is a situation that we are monitoring closely. We estimate that our book value has not changed materially since our last company update."

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Hot Stocks
Constellation Brands CEO: People buy brands they trust in tough times » 18:29
04/03/20
04/03
18:29
04/03/20
18:29
STZ

Constellation Brands

$132.00 /

+1.99 (+1.53%)

, STZ.B

Constellation Brands; also tag STZ

$130.00 /

+3 (+2.36%)

, CGC

Canopy Growth

$13.23 /

-0.56 (-4.06%)

In an interview on…

In an interview on CNBC's Mad Money, Bill Newlands said, "We have a lot of brands people trust, and that is what they go to in tough times. The work we're doing is all about branding." He noted that seltzer is "off to a great start," and they are "very excited" about its success. Newlands is seeing channel shifting, more buying online. He thinks Modelo is "just scratching the surface" in terms of its potential. He finished by noting, "We had our best year ever in cash flow. March has been great, but its unchartered waters."

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Hot Stocks
United Airlines cuts ~80% of capacity for April, sees larger cuts in May » 18:16
04/03/20
04/03
18:16
04/03/20
18:16
UAL

United Airlines

$22.89 /

-0.53 (-2.26%)

In a regulatory filing,…

In a regulatory filing, the company said, "United Airlines has continued to experience a material decline in demand for both international and domestic travel resulting from the spread of coronavirus. As of March 31, 2020, over 270 million people in the United States in at least 33 states, the District of Columbia and Puerto Rico were under instructions to stay home or "shelter in place," and to avoid any non-essential travel. The company has cut approximately 80% of its capacity for April, with passenger load factors expected to fall into the teens or single digits during that time frame, and currently expects to make even larger capacity cuts in May 2020. The company plans to proactively evaluate and cancel flights on a rolling 90-day basis until it sees signs of a recovery in demand. As of the date of this report, the company is estimating a loss of revenue of over $100 million per day in March 2020 compared to the prior period, and the company is estimating for planning purposes a reduction in revenue of at least 30% for the fourth quarter of 2020 compared to the prior period."

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Periodicals
Zoom to make waiting room feature turn on by default, CNBC says » 18:04
04/03/20
04/03
18:04
04/03/20
18:04
ZM

Zoom Video

$128.08 /

+6.24 (+5.12%)

Zoom said in an email…

Zoom said in an email that, beginning Sunday, its waiting room feature will be turned on by default, meaning that the meeting organizer will be able to control which participants can enter a videoconference, CNBC's Ari Levy and Jordan Novet report. "The Waiting Room is just like it sounds: It's a virtual staging area that prevents people from joining a meeting until the host is ready," the email said. Reference Link

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Hot Stocks
Anworth Mortgage estimates book value down ~ 40% at March 31 » 18:03
04/03/20
04/03
18:03
04/03/20
18:03
ANH

Anworth Mortgage

$0.84 /

-0.1452 (-14.80%)

The company said,…

The company said, "We estimate that our book value per common share at March 31, 2020 is down approximately 40% in the current quarter, to approximately $2.75 per share. Including our three series of preferred shares, the book value of our combined common and preferred stock has declined by approximately 32%. Anworth has reduced its Non-Agency repurchase agreement borrowings to approximately $270 million at March 31, 2020 through the sales of Non-Agency MBS, down from $428 million at December 31, 2019. Additional sales of Non-Agency MBS that we have made after March 31, 2020 are expected to further reduce our Non-Agency repurchase agreement borrowings to approximately $180 million. Agency MBS sales and principal payments have enabled the reduction of Agency MBS repurchase agreement borrowings to approximately $2.2 billion at March 31, 2020, enabling Anworth to build additional liquidity as well as reducing our leverage during this period of increased market volatility. Anworth has met all margin calls from its lenders and counterparties as of April 3, 2020. At March 31, 2020, Anworth's cash and unpledged Agency MBS assets were in excess of $130 million. We expect to make an announcement this month regarding our common stock dividend relative to the first quarter of 2020. We do anticipate that the payment date for such a dividend will be later than April 29, 2020, which would have been its routine payment date."

Periodicals
Avolon cancels order for 75 Boeing MAX aircraft, 4 Airbus jets, Reuters reports » 18:02
04/03/20
04/03
18:02
04/03/20
18:02
BA

Boeing

$124.59 /

+1.38 (+1.12%)

, EADSY

Airbus

$0.00 /

+ (+0.00%)

Avolon said it has…

Avolon said it has terminated an order for 75 Boeing (BA) MAX jets that were scheduled to be delivered by 2023 as it adjusts its order book to the sector disruption caused by the COVID-19 pandemic, Reuters reports. The company also cancelled commitments for four Airbus (EADSY) A330neo planes and deferred delivery dates for an additional 25 narrowbody jets to 2024 and beyond, the report notes. Reference Link

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Hot Stocks
AptarGroup requests FDA EUA for N95 masks with ActivShield » 17:59
04/03/20
04/03
17:59
04/03/20
17:59
ATR

AptarGroup

$94.37 /

-1.16 (-1.21%)

AptarGroup is seeking…

AptarGroup is seeking U.S. FDA Emergency Use Authorization for a solution that allows easy disinfecting of N95 filtering facepiece respirators. The N95 masks are desperately needed by healthcare personnel due to the shortage of disposable masks during the COVID-19 pandemic, the company said. Aptar has submitted its safety and effectiveness data to the FDA for EUA review. The company is working to provide approximately four million ActivShield strips per week and is working to expand its production capacity with the intent to deliver ten million per week by the end of April. "We are extremely encouraged by the promising data generated so far and are eager to deliver this technology to the front line and support the fight against the pandemic," said John Belfance, President of Aptar CSP Technologies. If the FDA approves the EUA, then ActivShield will immediately become available for this important use, the company said.

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Hot Stocks
Berkshire Hathaway sells 12.9M Delta shares, 2.3M Southwest shares » 17:55
04/03/20
04/03
17:55
04/03/20
17:55
BRK.A

Berkshire Hathaway

$268,500.00 /

-800 (-0.30%)

, BRK.B

Berkshire Hathaway

$178.24 /

-1.5 (-0.83%)

, DAL

Delta Air Lines

$22.48 /

-0.19 (-0.84%)

, LUV

Southwest

$30.53 /

-0.97 (-3.08%)

In two regulatory…

In two regulatory filings, Warren Buffett's Berkshire Hathaway (BRK.A) disclosed the sale of 12.9M common shares of Delta Air lines (DAL) and about 2.3M common shares of Southwest (LUV). Berkshire sold the Delta shares at a price range of $22.9646-$25.2729 per share on April 1 and April 2, and the firm sold the Southwest shares at a price range of $31.376-$33.9675 per shrae on April 1 and April 2.

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Hot Stocks
SPDR Gold Shares holdings rise to 978.99MT from 971.97MT » 17:54
04/03/20
04/03
17:54
04/03/20
17:54
GLD

SPDR Gold Shares

$152.79 /

+0.9 (+0.59%)

This is the 4th…

This is the 4th consecutive increase and the highest level of holdings since August of 2016.

Periodicals
United Airlines estimates 30% decline in Q4 revenue, CNBC reports  17:51
04/03/20
04/03
17:51
04/03/20
17:51
UAL

United Airlines

$22.89 /

-0.53 (-2.26%)

 
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Periodicals
BofA receives 85,000 applications from small business clients, CNBC says » 17:49
04/03/20
04/03
17:49
04/03/20
17:49
BAC

Bank of America

$20.03 /

-0.535 (-2.60%)

Bank of America claims it…

Bank of America claims it has gotten 85,000 applications from small business clients seeking a sum of $22.2B under the SBA's PPP program, CNBC reports. Reference Link

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Periodicals
Apple acquires AI startup Voysis, Bloomberg reports » 17:37
04/03/20
04/03
17:37
04/03/20
17:37
AAPL

Apple

$241.43 /

-3.27 (-1.34%)

Apple has purchased…

Apple has purchased Voysis, an AI startup that developed a platform for digital voice assistants to better understand users' natural language, Bloomberg's Mark Gurman reports. The startup focused on improving digital assistants within online shopping apps, so the software could respond more accurately to voice commands, Gurman notes. Reference Link

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Periodicals
GM requests U.S. tariff relief for ventilator parts, WSJ reports » 17:35
04/03/20
04/03
17:35
04/03/20
17:35
GM

General Motors

$18.03 /

-0.15 (-0.83%)

General Motors is asking…

General Motors is asking the White House to drop import tariffs on Chinese parts that the car maker requires to make ventilators, claiming that the levies will make it more expensive to manufacture desperately needed machines that can save lives, the Wall Street Journal's Katy Stech Ferek reports. In a letter to the USTR, GM officials asked the Trump administration to grant exclusions for several categories of ventilator parts made in China, Ferek says. The existing tariffs on such parts "could potentially impede the ability of GM and other U.S. manufacturers to source parts for critical care ventilators quickly, reliably, and at as reasonable a cost as possible," the letter says. Reference Link

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Hot Stocks
Barrick Gold targets 5M oz of gold annual production over next decade » 17:32
04/03/20
04/03
17:32
04/03/20
17:32
GOLD

Barrick Gold

$19.95 /

+0.1 (+0.50%)

Since its merger with…

Since its merger with Randgold Resources at the beginning of last year Barrick Gold has moved a long way towards building a modern mining business, says Executive Chairman John Thornton in the company's Information Circular for 2020 published today. The Circular follows the recent publication of Barrick's 2019 Annual Report in which President and Chief Executive Mark Bristow said the work done during the past year had equipped management well to take Barrick to the next level. Included in the report is Barrick's ten-year production plan which projects production of around 5M oz of gold per year over the next decade.

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Periodicals
Union official: Exxon plays on COVID-19 worries in negotiations, Reuters says » 17:31
04/03/20
04/03
17:31
04/03/20
17:31
XOM

Exxon Mobil

$39.20 /

-1.19 (-2.95%)

A union official said…

A union official said that Exxon Mobil is playing on economic uncertainty stemming from the COVID-19 pandemic in talks with workers at its Baytown, Texas refinery, Reuters' Erwin Seba reports. Ricky Brooks, president of the United Steelworkers union local 13-2001, said that the oil major has starting meeting with union-represented workers in small groups after dismissing two contract extension proposals from the union, Seba says. "They've begun in-house scare and misinformation meetings, leveraging the uncertainty of COVID-19 to get all of their issues and force the union to forego all of its issues," Brooks said. "They have held the pattern wages hostage if the union moves to go to the table." Reference Link

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Periodicals
Kraft Heinz halts production at three factories, Reuters reports » 17:28
04/03/20
04/03
17:28
04/03/20
17:28
KHC

Kraft Heinz

$25.31 /

+0.67 (+2.72%)

Kraft Heinz is pausing…

Kraft Heinz is pausing production at three plants providing restaurant supplies but has added shifts at other sites to meet demand for packaged foods amid the COVID-19 pandemic, Reuters' Carolina Mandl reports. CEO Miguel Patricio said in a video presentation that the closed factories, two in the U.S. and one in the U.K., are in the food service segment and saw demand fall due to the outbreak, particularly in Europe, Mandl says. Reference Link

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Huntington Ingalls awarded $1.51B Navy contract modification » 17:25
04/03/20
04/03
17:25
04/03/20
17:25
HII

Huntington Ingalls

$180.99 /

+0.89 (+0.49%)

Huntington Ingalls was…

Huntington Ingalls was awarded a $1.51B fixed-price-incentive modification to a previously awarded contract for the procurement of the detail design and construction of landing platform dock, or LPD, Class 31 and the LPD 17 Flight II ship. Work to be performed is the detail design and construction of LPD-31, the 15th ship in the LPD-17 amphibious transport dock ship class and will meet all the capability and capacity requirements for the amphibious ship replacement. Work is expected to be complete by February 2027. FY19 and FY20 shipbuilding and conversion funding in the amount of $532.1M will be obligated at award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command is the contracting activity.

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Nordstrom names Jim Donald, Mark Tritton to board of directors » 17:24
04/03/20
04/03
17:24
04/03/20
17:24
JWN

Nordstrom

$13.07 /

-0.09 (-0.68%)

, BBBY

Bed Bath & Beyond

$3.94 /

+0.385 (+10.83%)

Nordstrom (JWN) announced…

Nordstrom (JWN) announced the appointment of two new members to its Board of Directors: Jim Donald, co-chairman of Albertsons Companies, Board of Directors and Mark Tritton, president and CEO of Bed Bath & Beyond (BBBY). The company previously shared that board members Kevin Turner and Gordon Smith have chosen not to seek re-election to the Board at the expiration of their respective terms at the company's annual shareholders meeting on May 20. Additionally, the Board announced planned changes designed to enhance its corporate governance. This will include reducing the maximum size of the Board from 11 to 10 over the next two years and introducing a 10-year term limit for independent directors.

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