Market Currents

• Friday, November 20, 2009

• 16:19 PM [[UPS]] says that on Jan. 4 it will raise rates on ground packages by about 4.9%, and hike rates a net 4.9% on air express and international shipments originating in the U.S. 2 Comments

• Wednesday, November 11, 2009

• 10:09 AM UPS (UPS +0.8%) CEO Scott Davis predicts a better-than-expected holiday season: "We talked to our customers in recent months, mainly our retail and technology customers, and many of them are quite bullish on this Christmas season while others are pretty cautious." Late yesterday, FedEx (FDX) said it sees holiday shipping up 8%. Comment!

• Thursday, October 22, 2009

• 09:03 AM UPS (UPS -0.6%): "Our customers have widely differing views on their outlook for the holiday season." (PR) 1 Comment
• 07:57 AM UPS (UPS): Q3 EPS of $0.55 beats by $0.03. Revenue of $11.15B in-line. Volume of 927M packages, -2.4%. "I'm encouraged by the signs of economic recovery that are becoming apparent, although we still have a long way to go," CEO Scott Davis said. Shares -1% premarket. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Monday, August 31, 2009

• 14:11 PM The battle between FedEx (FDX) and the Teamsters warms up a bit as the union urges shareholders to separate the CEO and chairman positions at the company, a proposal which got 34% support last year. The Teamsters represent drivers at UPS (UPS) and dispute FedEx classifying its drivers as self-employed entrepreneurs. 2 Comments

• Thursday, July 23, 2009

• 12:45 PM Housing numbers strong? Blah. Jobless claims encouraging? Meh. The Pragmatic Capitalist says the only news that matters today involved a company in the middle of almost every transaction, and thus in every recovery: United Parcel Service (UPS +3%). And UPS is not confident. (UPS earnings) 10 Comments
• 08:25 AM UPS (UPS): Q2 EPS of $0.49 in-line. Revenue of $10.83B (-16.7%) vs. $11.02B. Sees Q3 EPS $0.45-0.55 vs. $0.59. Average daily volume -4.6%. Says effective cost management reduced labor hours, miles driven and block hours flown by a greater percentage than volume declines, but not enough to offset the drop in revenue. Shares -0.6% premarket. (PR) 1 Comment
• 00:05 AM Notable earnings before Thursday's open: ALXN, BG, BLL, BMY, CBE, CELG, CLS, CME, DHR, DO, ECA, EMC, ESI, ESV, F, FITB, FLIR, GR, HBAN, HOT, HSY, IGT, JBLU, KMB, LCC, LLL, MMM, NCR, NEM, NIHD, NOC, NUE, NYT, OMC, ORI, OXY, PLD, PM, PNC, POT, R, RAI, RS, RTN, RX, SIAL, SPNC, T, TIN, TMO, TRA, UNP, UPS, WYE, XRX, ZMH Comment!

• Monday, July 20, 2009

• 08:50 AM FedEx (FDX) and UPS (UPS), locked in a dispute over legislation that would affect FedEx's unions, step up their battle against one another. Comment!

• Thursday, April 23, 2009

• 07:53 AM UPS (UPS): Q1 EPS of $0.52 misses by $0.04. Revenue of $10.94B (-13.7%) vs. $11.44B. Sees Q2 EPS of 0.45-0.55 vs. consensus of $0.65. "Economic indicators tell us recovery in the U.S. might begin late this year, but more likely not until 2010." Shares -3.7% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ALXN, AN, AVT, BDK, BG, BLL, CBE, CIT, CLS, CME, CNX, COP, CP, DHR, DO, EMC, ESI, ESV, EXC, FITB, GMT, GR, HSY, IGT, IVZ, JNS, LCC, LLL, MAR, MI, NCR, NCX, NIHD, NOV, NUE, OMTR, OXY, PENN, PM, PNC, POT, RCL, RS, RSH, RTN, RX, SCG, SEIC, SIAL, STI, SU, SVU, TCB, TMO, UNP, UPS, ZMH 1 Comment

• Thursday, March 19, 2009

• 09:01 AM Premarket losers: ARE -9%. GGP -8%. DDR -7%. NKE -4%. FDX -4%. JAVA -3%. UPS -3%.AU -3%. Comment!

• Tuesday, February 3, 2009

• 10:52 AM Sell UPS (UPS) on today's post-earnings strength, Morgan Stanley says. Analysts say consensus estimates were too low based on a quirk in Q4 operating day classification, and note all forward commentary was negative and suggests estimates need to come way down. UPS +6.8%. Comment!
• 07:54 AM UPS (UPS): "Since economists do not expect any meaningful recovery until 2010, earnings in 2009 will suffer. Lower volume levels and reductions in package weight will put further pressure on margins. We anticipate the first quarter will be weak, with slight improvements later in the year as initiatives take hold." (PR) Comment!
• 07:54 AM UPS (UPS): Q4 EPS of $0.83 misses by $0.02. Revenue of $12.7B (-5.2%) vs. $13.19B. Sees Q1 EPS of $0.52-0.68 vs. $0.66. Package volume fell 3.7%. Shares -2.2% premarket. (PR) Comment!