Narrower q3 loss

Share to Twitter Share to Linkedin FedEx stock (NYSE: FDX) is up 13% in a week, compared to a 3% rise for the broader S&P500 index. After its recent surge, FDX stock looks appropriately priced, in our view. Due to a decline in delivery volumes, FedEx FDX and other logistics companies have had a tough year. The big e-commerce surge seen through the lockdown phase of the Covid-19 pandemic has now cooled off. Furthermore, the weakening U.S. economy and high inflation further add to the woes. Our analysis of FedEx’s Revenue details how the company’s revenues are trending. Last week, the company reported its Q3 fiscal 2023 results (the fiscal year ends in May), with revenue of $22.2 billion, down 6% y-o-y, and falling below our estimate of $22.8 billion, primarily due to softening volume. Average daily package volume was down 11% during the quarter. However, yields continued to improve, with composite package yield rising by 3%. The company’s … [Read more...] about Should You Buy FedEx Stock After Q3 Earnings Beat?

Ford Motors ( F ) is projecting a $3 billion loss on its electric vehicle (EV) segment this year, underscoring how traditional automakers’ EV businesses are still far from profitable. The company disclosed the figure in a report issued Thursday, where it outlined a new financial reporting structure based on the firm’s three core business segments, rather than geographic regions, to create a more customer-centric business driving value and growth. These include Ford Blue, encompassing gas-powered and hybrid vehicles, Ford Model e, focusing on breakthrough EVs, and Ford Pro, which manages commercial products and services. "We’ve essentially 'refounded' Ford, with business segments that provide new degrees of strategic clarity, insight, and accountability to the Ford+ plan for growth and value," CFO John Lawler said. Ford has expanded its EV offerings in recent years, including the F-150 Lightning pickup truck and Mustang Mach E SUV. Last year, CEO Jim Farley separated the … [Read more...] about Ford Projects $3 Billion Loss on EV Segment This Year

The world watched in shock as Credit Suisse, one of the most established global banking and financial services institutions, collapsed and was eventually acquired by UBS. I believe a significant factor in Credit Suisse’s downfall was its rigid stance on forcing staff to return to the office. This cautionary tale serves as a reminder for business leaders to adapt to the changing world of work and prioritize their workforce’s needs and preferences. The Iron Fist: Credit Suisse’s return to office policy In stark contrast to the growing trend of many companies embracing a flexible hybrid work approach, Credit Suisse took a more traditional approach, mandating that staff return to the office three days a week. According to one banker there, “they’re removing our flexibility, and it doesn’t feel great.” In May 2022, the bank’s leadership originally supported flexibility and hybrid work as evidenced by then-CEO Thomas Gottstein professing that a return to office was “not … [Read more...] about POV: How work arrangements played a part in the collapse of Credit Suisse and SVB

The holidays are approaching, and so too are company holiday parties, family gatherings, and so-called treats filling up work candy dishes. What’s more—hosting and traveling may stifle our ability to do meal prep over the weekend, leaving us to fend for ourselves and foraging in the fridge for a quick lunch between Zoom meetings. Or forgetting to make that healthy salad and snack for work at the office. But as most everyone could attest, fueling with healthier choices enables us to enjoy the celebrations more, and bounce back more easily. As a nutritional psychiatrist, much of my work comprises creating tailored nutrition plans that prioritize balance and sustainability for both our mental and metabolic health. Here’s how to keep the holiday cheer alive while making balanced meal choices. Mix it up One of my favorites easy snacks to have on hand that feels just like a holiday celebration is a quick nut mix. Simply combine equal portions of plain raw almonds, pecans, … [Read more...] about A Harvard brain doctor explains 7 easy ways to eat healthy at work

Chairman Thomas Jordan of the Swiss National Bank (SNB) attends a news conference in Zurich, Switzerland, March 23, 2023. REUTERS/Denis Balibouse ZURICH  -The Swiss National Bank raised its benchmark interest rate by 50 basis points on Thursday and declared that measures to support Credit Suisse had “put a halt to the crisis”. The central bank said that additional rate rises could not be ruled out and that it was willing to be active in the foreign exchange market if necessary. “The measures announced at the weekend … have put a halt to the crisis,” it said in a statement. “The SNB is providing large amounts of liquidity assistance in Swiss francs and foreign currencies.” The rates increase was the SNB’s fourth hike in succession as the central bank maintained its fight against Swiss inflation, which remains stubbornly outside the SNB’s target band of 0 -2 percent. “The growth outlook for the global economy in the coming quarters remains subdued,” said the SNB in a … [Read more...] about Swiss National Bank raises rates, says bank crisis stopped

Nearly 200 years after the death of famed German composer Ludwig van Beethoven, a group of international scientists have discovered the musician was predisposed to ailments by examining a lock of what experts believe to be his hair, according to a study published Wednesday in Current Biology. Famously hard of hearing, Beethoven wrote a letter to his brothers in 1802 describing how his condition forced him to “live like an exile.” In the letter, Beethoven charged his brothers to describe his ailments to a Dr. Schmid upon his death in hopes “the world may be reconciled to [him] after [his] death.” In addition to his hearing loss, Beethoven suffered from recurrent abdominal pain that afflicted him with alternating bouts of constipation and diarrhea, according to medical journal The Lancet. His abdominal pain was apparently so severe at times that Beethoven admitted to regularly consuming alcohol to “kill the pain,” only to find later in life that the drinking “exacerbated” his … [Read more...] about Scientists Uncover Beethoven’s ‘Genetic Risk Factors’ From Lock Of His Hair: Study

Share to Twitter Share to Linkedin Topline Reports of antisemitic incidents in the United States hit record levels in 2022, the Anti-Defamation League said in a report published Thursday, continuing a five-year upswing in antisemitism amid mounting fears the behavior of influential public figures like Donald Trump and Kanye West are normalizing hate. Key Facts The ADL recorded 3,697 antisemitic incidents across the U.S. in 2022, the highest annual total since the organization started tracking incidents in 1979. The figure marks a 36% increase from the year before—itself a record-setting year—and follows a broad uptick in hate towards the American Jewish community over the past five years, three of which recorded record levels of antisemitic incidents. The report said no single factor was responsible for the surge in hate and five states— New York (580), California (518), New Jersey (408), Florida (269) and Texas (211)—collectively accounted … [Read more...] about Antisemitic Attacks Hit All-Time High In 2022, ADL Report Says

Share to Twitter Share to Linkedin Professional gamblers wager millions on the NCAA Tournament using an auction-style format that brings out casual hoop dreamers and sophisticated quants. With brackets busted, it still pays to play the game within the game. N eal, a 36-year-old insurance broker who lives in Ohio with his wife and two children, is the proud owner of the University of Texas, University of Connecticut, Tennessee, Creighton and Florida Atlantic men’s basketball teams. His wife doesn’t know about his ownership stakes, but hopefully by the end of the NCAA Men’s Basketball tournament his $19,000 investment will turn into $50,000. And then, he’ll let her know. “Right now, we’re on a heater,” he says of the March Madness run his teams are on. “We’re still in the red on paper, but I hope that will change quickly with a few wins.” Neal doesn’t technically own any team, of course, but the amateur sports gambler “bought” these college … [Read more...] about Inside A High-Stakes March Madness Calcutta

Share to Twitter Share to Linkedin James Itkoff is the Director of Growth at Bad Birdie who leads all e-commerce acquisition efforts within the high-growth brand. Being a first mover sounds great, and in many respects, it is. You get to change the future of an industry, unlock something disruptive and potentially find a cash cow within a new or crowded industry. But on the other hand, being a first mover is a pressure cooker for founders and executives. The big guys are watching you, and the small brands want to be you. Every move is on grand display, so how can brands such as Bad Birdie continue to grow? They need to keep moving. The challenge here is that moving is much easier said than done. Is it possible to strike lightning in a bottle twice? Perhaps. But more realistically, for many brands, this movement is less of a discovery and more of an evolution. Small incremental tactical changes that lead to progress within a greater strategic goal … [Read more...] about The Fiduciary Duty Of A First Mover: Keep Moving

Share to Twitter Share to Linkedin In what should go down as one of the all-time greatest propaganda campaigns in U.S. history, members of Congress convinced millions of Americans that deregulation caused the 2008 financial crisis. Following the collapse of Silicon Valley Bank, they’re at it again. Predictably, populists such as Senator Elizabeth Warren (D-MA) are blaming the SVB failure on “rolling back” the 2010 Dodd-Frank Act’s stricter oversight. Aside from whether Dodd-Frank regulations were effective at all or amounted to anything more than additional paperwork and higher capital requirements, Congress has never repealed a single Title of Dodd-Frank. Warren’s argument amounts to whether additional stress testing, capital, or liquidity would have saved SVB. But Dodd-Frank stress tests are designed to ensure sufficient capital to cover losses resulting from “adverse economic conditions,” not from individual mistakes or bad strategies. Separately, … [Read more...] about SVB Debacle Brings The Fed One Step Closer To Becoming Provider Of First Resort