United Parcel Service Inc. and the Teamsters union agreed to a new five-year contract covering 250,000 employees, erasing the risk that some business might be lost through just the threat of a strike.
FedEx Corp. won a seven-year contract with the U.S. Postal Service valued at about $10.5 billion to carry mail between U.S. airports, fending off a challenge from United Parcel Service Inc.
Railroads are starting to see signs of a shipping peak ahead of the Christmas holiday season, signaling the U.S. economy is still expanding and fending off a repeat recession.
Analysts predict U.S. shares will rise enough this year to boost the Standard & Poor’s 500 Index to a record, even as Wall Street strategists say the best is already over for American equities.
CSX Corp. rose the most since April 2009, leading gains among U.S. railroads, after predicting record first-quarter earnings because of increased demand for container and merchandise shipments.
Retailers may face a last-minute rush to restock their shelves if household spending improves as it did in the 2009 holiday season.
Traders are betting TNT Express NV is the most likely takeover target in Europe to get a higher offer, even after spurning the industry’s richest proposal from United Parcel Service Inc.
North American railroads’ seasonal peak in shipments may be extending into December as an increase in online Christmas shopping boosts demand for moving packages.
"This contract win is a sorely needed shot in the arm for FedEx."
- Justin Yagerman on Apr 24, 2013
Deutsche Bank’s Yagerman Says Railways Are Strong