Shares of UPS, FedEx fall after report Amazon to launch delivery service

Shares of UPS, FedEx fall after report Amazon to launch delivery service

Shares of UPS, FedEx fall after report Amazon to launch delivery service

Inc. now owns 484 shares of the shipping service provider's stock worth $105,000 after purchasing an additional 300 shares in the last quarter. It also reduced its holding in Intuitive Surgical Inc (Put) (NASDAQ:ISRG) by 1,000 shares in the quarter, leaving it with 4,000 shares, and cut its stake in Synergy Pharmaceuticals Del (Call) (NASDAQ:SGYP).

Still, Amazon has no problem taking a loss on initiatives if it thinks it can capture market share in the process, so don't be surprised to see it take the same approach here. Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx in the 3rd quarter valued at about $132,000. Subramaniam Rajesh sold $1.48M worth of FedEx Corporation (NYSE:FDX) on Thursday, September 21. Over the last quarter, insiders sold 53,541 shares of company stock worth $13,692,142. (FDX) traded down $2.58 on Friday, reaching $236.69. Amazon accounts for less than 10 percent of total revenue for UPS and 4 percent of revenue for FedEx, according to Wolfe Research analyst Scott Group. Beach Investment Counsel Inc bought 20,660 shares as the company's stock declined 2.24% while stock markets rallied. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.

FedEx Co. has a 1-year low of $182.89 and a 1-year high of $274.66.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29.

"A much clearer explanation of what it takes to truly provide outstanding service to e-commerce and all customers is featured in a video available on http://fedex.com/dream", the statement continued.

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The Journal said Amazon also wants to undercut its competitors on pricing, an indication that the company is willing to lose money for several years in order to gain an edge. Bank of America restated a "buy" rating and set a $315.00 price objective on shares of FedEx in a research report on Friday, January 12th.

But the company has a long way to go before it can match the scale of UPS or FedEx. Read our cover story on why stocks sold off and what you should do now. Martingale Asset LP invested in 126,381 shares or 0.38% of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

In related news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. The disclosure for this sale can be found here. "(FDX)" was originally published by Registrar Journal and is the sole property of of Registrar Journal.

Amazon is preparing to launch a delivery service that will directly compete with FedEx and UPS, reports the WSJ.

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