FedEx Ground to Deliver Every Day--Good for Capacity and Utilization, Likely Near-Term Cost Headwind
We maintain our fair value estimate for FedEx after the firm announced plans to increase Ground delivery days and include Sunday beginning in January 2020. The firm currently delivers seven days per week during peak season and delivered six days per week year-round in 2019. Expanding Ground service from six to seven days seems a sound way to increase capacity without material facilities investment.FedEx indicated it will divert around 2 million daily SmartPost packages to internal delivery inst...
FedEx provides transportation, e-commerce and business services through companies under the FedEx brand. These companies are included in the following segments: Federal Express Corporation, including TNT Express B.V., is an express transportation company; FedEx Ground Package System, Inc., which is a provider of small-package ground delivery services; FedEx Freight Corporation, which is a provider of less-than-truckload freight services; and FedEx Corporate Services, Inc., which provides sales, marketing, information technology, communications, customer service, technical support, billing and collections services, and certain back-office functions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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