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0.000492449113591614 0.00287261982928426 -0.00164149704530534 0.00205187130663165 0.00820830597504927 0.0102593565331582 0.0115725541694025 0.0172357189757058
Stock impact report

FedEx, UPS stocks surge after WSJ report of Amazon halting competing service [MarketWatch]

FedEx Corporation (FDX) 
Last fedex corporation earnings: 3/17 04:03 pm Check Earnings Report
US:NYSE Investor Relations: fedex.com/us/investorrelations
Company Research Source: MarketWatch
Shares of FedEx Corp. surged 5.0% and of United Parcel Service Inc. rallied 4.2% in premarket trading Wednesday, after The Wall Street Journal reported that Amazon.com Inc. was halting a delivery service known as Amazon Shipping that directly competes with the package delivery services. J.P. Morgan analyst Brian Ossenbeck kept his ratings at neutral for both FedEx and UPS, but said he expects the stocks to react "favorably" to the WSJ report. "The news reads slightly more positive for FedEx considering it no longer ships for Amazon and was viewed as at risk for direct competition," Ossenbeck wrote in a note to clients. "However, we expect UPS will also benefit on news its largest customer has suspended a competing service for non-Amazon volumes, but we expect Amazon will continue to insource its own deliveries over time." The WSJ report out late Tuesday, which cited people familiar with the matter, said Amazon was suspending the Amazon Shipping service, which was available in only a h Show less Read more
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