FedEx says the IRS will not impose tax penalties for 2004 through 2006 in the package delivery company's long-running battle over the classification of its FedEx Ground drivers as contractors instead of employees.
United Parcel Service, the world's largest package delivery service, reported a 43 percent drop in earnings that nonetheless topped analysts' forecasts, saying that cost-cutting helped its profit margins.
Monday, 12 Oct 2009 | Posted By:
Joseph Pisani | Source: CNBC.com
New Jersey—known more for its turnpike, shopping malls and industrial sprawl—has become a solar energy powerhouse, outshining sunnier states in generating solar power.
Stocks got a quick pop Thursday from the Philadelphia Federal Reserve report on regional manufacturing but turned negative as General Electric dragged on the Dow.
The transport sector saw an increase of 60 percent over the last six months, a greater percentage increase than the S&P 500, but Lee Klaskow, a transportation analyst at Longbow Research, said the fundamentals of the industry are not getting better, just "less worse."
Stocks got a quick pop Thursday from the Philadelphia Federal Reserve report on regional manufacturing but the gains began to fade as weakness nagged at the market. United Technologies, Bank of America and General Electric led the Dow.
Stocks rallied for a third day Wednesday, jumping more than 1 percent, as industrial production rose for a second straight month and weakness in the dollar boosted commodity and industrial stocks.
Stocks snapped a five-day winning streak Friday as a sharp drop in oil prices and profit-taking offset an improvement in consumer confidence and a rosier outlook from economic bellwether FedEx. Still, for the week, stocks gained 1.7 percent.
Friday, 11 Sep 2009 | Source: The Associated Press
FedEx Corp., the world's second largest package delivery company, raised its first-quarter earnings forecast, citing better-than-expected international shipments and cost-cutting.
Wednesday, 2 Sep 2009 | Source: The Associated Press
At package delivery behemoths FedEx and UPS, last fall's meltdown and the worst recession in a generation has meant a sharp drop-off in the number of documents and packages sent overnight.
Nearly 80 percent of S&P companies have beat earnings expectations—is this due to low earnings estimates or is it a sign that the recovery is real? Michael Cuggino, president and portfolio manager at Permanent Portfolio Funds, and Tyler Dann, senior research analyst at Invesco Aim, shared their ideas... Read More
Railroad company CSX releases its third-quarter earnings Tuesday, but Donald Broughton, transportation analyst at Avondale Partners, said he wouldn't buy into the company at its current levels because of lower volumes and pricing risks associated with railroads.... Read More