Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
The Competition
The Latest FedEx Headlines
FedEx Sinks as Analysts See Warning in Executive's Exit
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="cheryl" data-source="post: 3855602" data-attributes="member: 1"><p><strong>FedEx Sinks as Analysts See Warning in Executive's Exit - Yahoo</strong></p><p></p><p>FedEx Corp. tumbled to the lowest in 18 months after Bank of America Corp. said a surprise executive departure from the courier’s air-freight division signaled a key financial goal is at risk.</p><p></p><p>Bank of America analyst Ken Hoexter cut his recommendation on FedEx to neutral and lowered his price target 28 percent after the resignation of David Cunningham as head of FedEx’s Express unit. Hoexter also cited a “decelerating global economy” as he estimated that the division would miss its target of boosting profit by more than $1 billion by 2020.</p><p></p><p>Cunningham’s departure after a tenure of just two years “could signal a reduction or delay in its profit improvement target,” Hoexter said Monday in a note to clients. “This is a rapid and, in our view, out-of-character change for a company that is still operated by its founder, chairman and CEO Fred S.”</p></blockquote><p></p>
[QUOTE="cheryl, post: 3855602, member: 1"] [B]FedEx Sinks as Analysts See Warning in Executive's Exit - Yahoo[/B] FedEx Corp. tumbled to the lowest in 18 months after Bank of America Corp. said a surprise executive departure from the courier’s air-freight division signaled a key financial goal is at risk. Bank of America analyst Ken Hoexter cut his recommendation on FedEx to neutral and lowered his price target 28 percent after the resignation of David Cunningham as head of FedEx’s Express unit. Hoexter also cited a “decelerating global economy” as he estimated that the division would miss its target of boosting profit by more than $1 billion by 2020. Cunningham’s departure after a tenure of just two years “could signal a reduction or delay in its profit improvement target,” Hoexter said Monday in a note to clients. “This is a rapid and, in our view, out-of-character change for a company that is still operated by its founder, chairman and CEO Fred S.” [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
The Competition
The Latest FedEx Headlines
FedEx Sinks as Analysts See Warning in Executive's Exit
Top