10:38AM
FedEx affirms profit outlook, on heels of UPS's warning ( FDX ) by Tomi Kilgore
NEW YORK (MarketWatch) -- FedEx Corp. (fdx) affirmed on Friday its full-year, fiscal 2015 earnings outlook, on the heels of fellow package delivery company United Parcel Service's (ups) warning of disappointing holiday-quarter results. FedEx said it still expects earnings per share in the range of $8.50 to $9 for the fiscal year ending in May, which compares with the FactSet consensus analyst estimate of $8.97. FedEx's stock fell 2.1% in morning trade, and were down as much as 2.4% earlier in the session. Meanwhile, UPS shares tumbled 9.9%.
10:21AM
SkyMall parent Xhibit goes bankrupt, falls victim to technology ( XBTC ) by Andria Cheng
NEW YORK (MarketWatch) -- In-flight shopping magazine SkyMall parent Xhibit Corp. (xbtc) filed for bankruptcy protection on Thursday, the company said in a regulatory filing on Friday. The company said its debtors intend to sell the SkyMall online retail business and most other assets. The company blamed competition from online retailers including Amazon (amzn) and eBay (ebay) , and said the increased use of electronic devices on planes and access to the Internet on flight have led fewer people to browse its 25-year-old in-flight catalog and make purchases.
10:14AM
UPS' stock tumble accounting for more than half of Dow transports' decline ( UPS FDX DJT ) by Tomi Kilgore
NEW YORK (MarketWatch) -- A day after closing at an all-time high, United Parcel Service's stock ( ups) tumbled $10.99, or 9.6% in morning trade Friday, to make it the biggest decliner among S&P 500 components. The selloff comes after UPS warned that fourth-quarter results would be disappointing. The stock's decline is shaving off about 67 points from the Dow Jones Transportation Average, which is recently down 127 points. Shares of fellow package delivery company FedEx Corp. ( fdx) were down $3.42, or 1.9%, accounting for about 21 points of the Dow transports' decline.
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