Bloomberg Intelligence
Amazon Repackaging of Shipping Services Fuels UPS, FedEx Selloff
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
-Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, discusses US transportation stocks plunging Monday after Amazon.com Inc. announced expanded logistics offerings that will turn it into a major competitor for parcel carriers and air freight companies, and also impact truckers and third-party brokers.
-Jennifer Bartashus, Bloomberg Intelligence Senior Analyst, Retail Staples & Packaged Food, discusses Tyson Foods earnings. Tyson Foods raised its full-year profit outlook as strong protein demand enables growth even as the struggling beef segment shows no signs of turning around.
-Brian Egger, Bloomberg Intelligence Senior Gaming and Lodging Analyst, discusses Norwegian Cruise Line cutting its full-year adjusted earnings outlook due to disruptions tied to the Middle East. Higher fuel prices and waning travel demand to Europe are adding to its weaker-than-expected bookings at the start of this year.
-Spencer Soper, Bloomberg Technology and E-Commerce Reporter, discusses GameStop trying to buy eBay for about $56 billion in cash and stock, a 20% premium to its Friday close. The gaming retail chain has offered $125 per share in cash and stock for the online marketplace and has secured an initial, non-binding “highly confident letter” from TD Bank to provide about $20 billion of debt financing for the deal.
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