Shipping Giants FedEx, UPS Stocks Slip Friday: What's Going On?
Portfolio Pulse from Erica Kollmann
FedEx and UPS stocks are trading lower after FedEx reported disappointing quarterly results and reduced its fiscal-year guidance. FedEx's revenue and earnings missed expectations due to lower U.S. domestic priority package volume and increased costs. The company also revised its full-year revenue growth outlook to low single digits. Analyst reactions include a downgrade from Morgan Stanley and lowered price targets. UPS shares are down in sympathy with FedEx.
September 20, 2024 | 1:22 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
FedEx shares fell after reporting lower-than-expected earnings and revenue, and cutting its fiscal-year guidance. Analysts have reacted with downgrades and reduced price targets.
FedEx's disappointing earnings report and reduced guidance directly impact its stock price negatively. Analyst downgrades and lowered price targets further contribute to the negative sentiment.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
UPS shares are down in sympathy with FedEx's disappointing earnings report and guidance cut. UPS will report its own earnings at the end of October.
UPS shares are affected by FedEx's negative earnings report due to their industry correlation. The market anticipates potential similar challenges for UPS.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70