FedEx is one of two titans in private U.S. parcel shipping. We don't expect this to change.
We're surprised when FedEx Ground fails to shine, and second-quarter Ground operating margin declined to 10.5% from 13.0%; conversely, we don't even raise an eyebrow at weak LTL Freight results, where operating margin dropped 100 basis points to 5.5%. Express delivered a flat but strong 9.4% EBIT margin, or 9.7% excluding TNT integration expenses. While some Ground compression in the past couple of years stems from accounting changes and inclusion of lower-margin acquisitions, this near converge...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.
We have operations in 27 countries.
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