FedEx Shipments Fall for Fourth Straight Quarter, Looks to Deeper Cost Cuts

Delivery giant FedEx has had a somewhat traumatic year earnings wise with multiple warnings as inflation, rising rates and the supply crunch have all affected it. FDX reporting its November end quarter beat EPS by $0.36 but missed on revenue and guided FY23 EPS below consensus. FedEx reported that fewer packages moved through FedEx’s system for the fourth straight quarter with weaker demand most acute in its Express unit, which provides overnight and international deliveries. FedEx continued to be wounded … Continue reading “FedEx Shipments Fall for Fourth Straight Quarter, Looks to Deeper Cost Cuts”

U.S. Trade Deficit Narrowed to -$67.4 billion in August with Softening Global Activity

The trade deficit narrowed to $67.4 billion in August (consensus -$67.9 billion) from an upwardly revised -$70.5 billion (from -$70.6 billion) in July. August exports were $258.9 billion, $0.7 billion less than July exports. August imports were $326.3 billion, $3.7 billion less than July imports. The goods deficit with China widened to $33.5 billion from $32.9 billion in July. Highlights International trade deficit for August 2022 -$67.4 billion vs -67.9 estimate from an upwardly revised -$70.5 billion (from -$70.6 billion) … Continue reading “U.S. Trade Deficit Narrowed to -$67.4 billion in August with Softening Global Activity”

FedEx Earnings Updated After Profit Warning Pinpoints Cost Cuts of $2.7 Billion

Delivery giant FedEx reported adjusted earnings during the fiscal first quarter of $3.44 a share, matching the preliminary figure from the Sept. 16 profit warning. Revenue was $23.2 billion in the period ended Aug. 31. FedEx continued to be wounded by a collapsing European and Asian economies. Global volume softness accelerated in the final weeks of the quarter. FedEx warned last week that Q1 was down from $4.37 last year and well below the consensus of $5.14. The company reaffirmed … Continue reading “FedEx Earnings Updated After Profit Warning Pinpoints Cost Cuts of $2.7 Billion”

FedEx Profit Warning as Global Volumes Decline, Withdrawing Guidance

Delivery giant FedEx issued a major profit warning after the close Thursday for the first quarter and withdrew guidance for the year. $FDX was down over 11% after hours. FedEx continued to be wounded by a collapsing European and Asian economies. Global volume softness accelerated in the final weeks of the quarter. FedEx sees Q1 non-GAAP EPS of $3.44, down from $4.37 last year and well below the consensus of $5.14. The company reaffirms plans to buyback $1.5b shares. FedEx … Continue reading “FedEx Profit Warning as Global Volumes Decline, Withdrawing Guidance”

U.S. Trade Deficit Narrowed to -$70.7 billion in July as Exports Hit all Time High

The trade deficit in the US narrowed by $10.2 billion to $70.7 billion in July 2022, a 9-month low as world trade declines. Forecasts were for $70.3 billion. Total exports were up 0.2% to a new all-time high of $259.3 billion as a rise in exports of services offset a decline in goods shipments. Imports fell 2.9% to $329.9 billion. The deficit with China fell $3.9 billion to $33.0 billion in July with exports rising to $12.8 billion and imports … Continue reading “U.S. Trade Deficit Narrowed to -$70.7 billion in July as Exports Hit all Time High”

U.S. Trade Deficit -$79.6 Billion, China Gap Rises to -$36.95 Billion

The US trade deficit in June was $79.6 billion (consensus $81.7 billion) from a revised deficit of $84.9 billion (from $85.5 billion) in May. The China and US trade deficit rose to -$36.95 billion vs. May deficit $-31.54 billion. Exports were up 3.5% to a record high of $260.8 billion, led by natural gas. Imports fell again to $340.41 billion vs. May $341.43 billion These monthly swings are also influenced by the supply crisis affecting orders and deliveries. Highlights International trade … Continue reading “U.S. Trade Deficit -$79.6 Billion, China Gap Rises to -$36.95 Billion”

U.S. Trade Deficit Pulls Back from Record as Exports Rise Led by Natural Gas, Petroleum Products and Soybeans

The US trade deficit in April was $87.20 Billion down from prior month’s record $-107.7 billion. The China and US trade deficit fell to -$30.57 billion vs. $-34.00 billion last month. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas. Imports collapsed to -3.4% from March rise +9.6%. These monthly swings are also influenced by the supply crisis affecting orders and deliveries. Highlights International trade balance $-87.2 billion vs. $-89.5 billion estimate. The prior … Continue reading “U.S. Trade Deficit Pulls Back from Record as Exports Rise Led by Natural Gas, Petroleum Products and Soybeans”

U.S. Trade Deficit Soars 27% to Record $859 Billion in 2021 as Imports surge from Inflation and Tariffs.

The US trade deficit in December was $80.70 Billion up from prior month’s $79.30 billion. The China and US trade deficit rose to -$355.3 B for the year. The US trade gap for 2021 in both goods and services rose 27% to hit $859 billion, an annual record as imports grew faster than exports. Imports surged 20.5% with higher prices from inflation and tariffs. Highlights The US trade Deficit rose in both goods and services rose 27% to hit $859 … Continue reading “U.S. Trade Deficit Soars 27% to Record $859 Billion in 2021 as Imports surge from Inflation and Tariffs.”

Soaring Aluminum Prices Boost Alcoa Earnings to Highest Growth Rate in Over Five Years

Aluminum producer Alcoa reported better than expected fourth quarter earnings on Wednesday. Aluminum has seen prices rise 50% yr/yr. AA reporting quarterly records for adjusted net income and adjusted EBITDA. Revenue rose 38% yr/yr, Alcoa’s highest growth rate in over five years. Alcoa Corp NYSE: AA Reported Earnings After Close Wednesday $2.50 Beat $1.93 EPS AND $3.30 Billion Beat $3.30 Billion Forecast in Revenue Earnings Alcoa reported $896 million in Ebitda in line with estimates. Adjusted earnings of $2.50 a share … Continue reading “Soaring Aluminum Prices Boost Alcoa Earnings to Highest Growth Rate in Over Five Years”

Traders Market Weekly: All Risk, No Fear, Mania and  inflation

November 7 – 13 2021 FEAR NOT Brave Investors    Strange times But remember The Joker once served as the Iranian ambassador for the United Nations. All Risk, No Fear, Mania and  inflation The Week That Was – What Lies Ahead? Editorial Like a scratched record another week of no fear for US stock markets, risk on is oblivious to cracks appearing in this mania. S&P and NASDAQ closed at record highs for the seventh straight day, NASDAQ up for … Continue reading “Traders Market Weekly: All Risk, No Fear, Mania and  inflation”