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CNBC's Phil LeBeau reports FedEx and UPS are saying they are expecting some delays in certain areas of the Midwest and the South due to severe winter weather.
The sector was weighed down Friday by Kansas City Southern, down 15 percent after the railroad's quarterly earnings missed Wall Street expectations, but other components also slumped, making the move lower more convincing.
NEW YORK, Jan 17- If early reports are any indication, more U.S. companies may be missing the mark on profits this season than investors have become accustomed to. But 50 percent have missed analysts' earnings estimates, compared with the long-term average of 63 percent for a full reporting period, according to Thomson Reuters data.
*Expects fourth-quarter earnings/shr $1.25 vs est $1.43. *Sees 2013 earnings/shr $4.57 vs forecast $4.65- $4.85.
Some of Friday's midday movers:
*Expects fourth-quarter earnings/shr $1.25 vs est $1.43. *Expects 2013 earnings/shr $4.57 vs $4.65- $4.85 forecast earlier. Jan 17- United Parcel Service Inc warned its fourth-quarter earnings would fall well short of market forecasts as it spent up large to try to deliver a surge in parcels in time for Christmas.
*Expects fourth-quarter profit/share $1.25 vs est $1.43. *Expects 2013 profit/share $4.57 vs $4.65- $4.85 forecast earlier. Jan 17- United Parcel Service Inc said its 2013 profit would miss forecasts as a flurry of orders towards the end of a shorter U.S. holiday shopping season and cold weather took a toll on service.
UPS estimated quarterly profit below analysts' expectations, partly due to a shorter U.S. holiday season.
Loeb's $14 billion firm, Third Point, has been one of the industry's best performers for several years now thanks to bets on Greek bonds, Japan's economic recovery and blue-chip U.S. stocks.
Financials and industrials should become investors' best bets in 2014 as the country's employment picture brightens, CNBC's Jim Cramer says.
Some of the names on the move ahead of the open.
NEW YORK, Dec 30- New York City has sued FedEx Corp, accusing it of illegally delivering millions of contraband cigarettes to people's homes and seeking $52 million in fines and unpaid taxes.
Companies are making headlines after the bell Monday:
CNBC's Seema Mody reports New York City is suing FedEx for illegally delivering millions of untaxed cigarettes to homes over a 7-year period.
New York City has sued FedEx Corp, accusing the package delivery company of illegally delivering millions of contraband cigarettes to people's homes.
Mike Paul, MGP and Associates; Nathan Bachrach, The Financial Network Group; and CNBC's Jeff Cox, Morgan Brennan, and Simon Hobbs discuss how Amazon, UPS, and FedEx should handle its failed Christmas deliveries snafu.
The "Fast Money" traders share their final trades of the day.
CNBC's Josh Lipton reports that Amazon is reviewing its carriers' performance, while Wedbush Securities blames Amazon for the late deliveries. CNBC's Dominic Chu weighs in.
UPS, embarrassed by deliveries that failed to reach clients in time for Christmas, may have a shrunken fleet of jets to blame. The WSJ reports.
Americans waited until the last minute to buy holiday gifts, but retailers weren't prepared for the spike.