News for FedEx
Mar 5 · 11:39:00 AM · Source: MSN Money
Fortune magazine has ranked FedEx Corp. (NYSE:FDX) among the top 20 most admired companies in the world for the 10th consecutive year, according to MSN Money. The Memphis-based shipping giant was listed at No. 13, according to the publication’s latest survey.
Fortune cited the ability of FedEx to manage costs while maintaining service levels during the economic downturn, and increased demand in international business.
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Feb 23 · 10:32:00 AM
With the aim of capturing growing demand for air transport of added-value products and expanding their business in China, FedEx Corp (NYSE:FDX) earlier this year started flying Boeing Co.'s B777 Freighter between Memphis International Airport, Tennessee and Pudong International Airport in Shanghai, China becoming the first to tap this fast and fuel efficient aircraft for a regular route, according to TradingMarkets.com.
With capacity of 81 tons, over 6 tons more than the MD11, the firm's main cargo airplane, the B777 can also fly faster, allowing FedEx to delay collection times by two hours.
FedEx has a rich business history in China, with more than 25 years of experience serving customers shipping to and from this fast-growing market. FedEx currently employs more than 7,000 employees in China and serves 400 cities throughout the country. FedEx Express is also approaching the one-year anniversary of its new Asia Pacific hub in Guangzhou, China, opened on February 6, 2009.
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Feb 23 · 9:56:00 AM · Source: The Commercial Appeal
Former senator Trent Lott, R-Miss., was among the lobbyists working in FedEx Corp.'s (NYSE:FDX) behalf in the fourth quarter of last year, focusing on Federal Aviation Administration Reauthorization Act provisions of interest to the Memphis-based logistics giant, according to Memphis based The Commercial Appeal.
Lott and Democrat John Breaux, a former Louisiana senator, formed a lobbying firm after they left the Senate. It made $90,000 in the last three months of 2009 from FedEx, disclosure statements filed with the U.S. House of Representatives said.
Of Memphis companies, FedEx spent by far the most on lobbying: $4.65 million in the fourth quarter last year, up from $2.09 million for the fourth quarter in 2008, records show. This indicates that Democrats and Republicans can, indeed, work together if they so choose.
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Feb 15 · 5:16:00 PM
Fedex declared a regular quarterly dividend in the amount of $.11 per share payable April 1, 2010 to shareholders of record on March 11, 2010.
At today''s $78.55 stock price the dividend yield is 0.56%.
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Feb 12 · 11:24:00 AM
Jet Airways (India) Ltd, which runs India’s largest airline, is in initial discussions with FedEx Corp. for a dedicated cargo airline that it wishes to set up either as a joint venture or in alliance with the multinational logistics firm, according to the Global Supply Chain Network, as well as two executives of the airline familiar with the development, who did not want to be identified. Jet originally planned to launch an all cargo airline with Deutsche Lufthansa AG, however, the global economic turndown halted these plans. The Jet Airways executive, who declined to be identified, said FedEx was a logical choice as a partner
"India is largely untapped (as a cargo market). There is strong business for more players." said Ram C. Menen, Senior VP-Cargo, for Emirates SkyCargo, the cargo airline division of Emerites Airlines.
In November, FedEx Corp. announced the launch of FedEx India, a next-business-day domestic express service (for small parcels) for the Indian market. The launch followed similar ones by the company in China, Mexico and the UK.
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Dec 17 · 10:54:00 AM · Source: Company News Release
Federal Express said Thursday that its fiscal second quarter net profits totalled $345 million, or $1.10 a share, down from $493 million, or $1.58 a share, earned in the year-ago second quarter. Quarterly revenue fell 10% to $8.6 billion.
Fedex did say it expects stronger demand in the second half of the fiscal year.
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Dec 8 · 2:48:00 PM · Source: Reuters
FedEx announced that it expects to report earnings of $1.10 per diluted share for the second quarter of 2010.
The Company's previous guidance for the quarter was $0.65-$0.95 per diluted share.
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Nov 5 · 12:30:00 PM · Source: Pittsburgh Post Gazette
FedEx said in a regulatory filing Friday with the Securities and Exchange Commission that the company was notified that the Internal Revenue Service was dropping its investigation into whether the company should have paid employment tax for the drivers of FedEx Ground service in 2002, a Moon-based subsidiary that the company runs using drivers it classifies as independent contractors.
The IRS is still auditing whether the those taxes should have been paid in 2004 through 2008. The IRS inquiry is one of a number of legal challenges facing the company regarding the company's use of independent contractors.
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Oct 23 · 3:07:00 PM · Source: NASDAQ
FedEx said its express parcel delivery business in China continues to gain market share, but competition with local rivals remains very tough.
The company is seeing "good growth" in its business in China, which it launched in 2007, said David Cunningham, Jr., Asia-Pacific president of FedEx's core express segment. “We aren't the price leader from the standpoint of (having) the lowest prices but we have to be competitive...in the marketplace," Cunningham said. He declined to provide specific figures on the China business.
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto
Advertisement