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FDX Doesn't Enter Bidding War, Stock May Bounce Back Up

|Includes: FedEx Corporation (FDX), UPS

UPS just made an expensive bid for TNT shipping in Europe. FDX had previously been rumored to be interested in acquiring TNT as well. The stock moved down since some people thought they would enter a bidding war.

FDX hasn't made a bid and it doesn't look like they will either. It closed Friday at 90.24, and has been north of 95 recently. Good stock to grab a quick 5% gain.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in FDX over the next 72 hours.

Additional disclosure: I may also initiate a short in UPS since it is acquiring TNT