ADVFN - Advanced Financial Network.
HOME» NYSE » F » FDX Stock Price » FDX Stock News

Fedex Share News

 Fedex Corp Stock Price
FDX Stock Price
 Fedex Corp Stock Chart
FDX Stock Chart
 Fedex Corp Stock News
FDX Stock News
 Fedex Corp Company Information
FDX Company Information
 Fedex Corp Stock Trades
FDX Stock Trades

Daimler Selling $2.25 Billion of Bonds; IBM Seeks Coupon-Record

By Patrick McGee Daimler AG (DAI.XE) is selling $2.25 billion of bonds Wednesday, leading a series of issuers who are taking advantage of record-low financing costs shortly after exiting earnings-related blackout periods. The German auto maker is joined by International Business Machines Corp. (IBM)--which is striving for a record-low coupon on a $1 billion sale of 10-year bonds--as well as AngloGold Ashanti Ltd. (AU), which seeks to price $750 million of 10-year debt. The market is receptive to new deals as equity markets climb and corporate bond trading rebounds after two tough sessions to begin the week. Markit's CDX North America Investment Grade Index, a proxy for risk sentiment, improved 0.9% in late afternoon trading. Recently-issued deals from FedEx Corp. (FDX) and eBay Inc. (EBAY) are also improving in the secondary market. For borrowers, the timing is ideal: Treasury rates have plummeted to record-lows this month, helping average corporate bond yields fall below the 3% mark for the first time in four decades of data compiled by Barclays. Moreover, issuance has dried up as companies focus on earnings, so investors are scrambling for deals that are available. Through financing unit Daimler Finance NA, the German auto maker is selling $1.5 billion of three-year notes and $750 million of seven-year notes, offering 1.08 and 1.45 percentage points more than comparable Treasury yields. The offered yield has dropped by 0.05 percentage point or more, thanks to extensive demand. Daimler posted second-quarter earnings earlier Wednesday, reporting a smaller-than-expected 11% drop in earnings as weakening car prices and the cost of new-model launches took less of a bite out of profit than anticipated. Daimler's deal carries provisional ratings of A3 from Moody's and an equivalent A-minus from Standard & Poor's and Fitch Ratings. IBM, which already holds record-low financing rates for three-year and seven-year debt, hopes to achieve a record-low-coupon trifecta by selling 10-year bonds at less than 2%. At launch, it looked as though IBM would sell bonds at 2.06%, according to people familiar with the transaction, but IBM could sell the bonds at a discounted dollar price to push the yield down and set a record, currently held by 3M Co. (MMM). IBM's bonds are expected to be rated Aa3 by Moody's, AA-minus by Standard & Poor's, and A-plus by Fitch Ratings. AngloGold is seeing enough demand for its $750 million deal that it could slash the offered yield by 0.20 percentage point to 3.80 points over Treasurys. Initial pricing guidance was a spread of 4.125 points. The South African miner is expected to release earnings Aug. 6. Earlier this week, it said second-quarter gold production rose 9% from the first quarter. Write to Patrick McGee at patrick.mcgee@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Fedex (FDX)
DateTimeHeadline
08/24/201519:10:00Etihad Got $2.5 Billion Cash Injection from Abu Dhabi
08/21/201503:22:00FedEx to Formally Launch $4.8 Billion Offer for TNT Express on...
08/21/201501:00:00Recommended Public Cash Offer by FedEx for All Issued and Outstanding...
08/20/201518:20:00FedEx and Pilots Reach Tentative Agreement on Collective-Bargaining...
08/18/201507:30:00U.S. Postal Service Tries Hand as Fishmonger, Grocer
08/17/201517:09:00Proxy Statement (definitive) (def 14a)
08/17/201512:11:00Fourteen FedEx Drivers Earn Honors at National Truck Driving...
08/14/201509:00:00FedEx Corp. Board Declares Quarterly Dividend
08/13/201516:13:37Logistics Movers: FedEx Names Lange as COO of Forwarding Unit
08/13/201509:00:00FedEx Trade Networks Names Dr. Udo Lange as COO
08/12/201509:00:00GENCO Recognized as Best-in-Class
08/03/201517:03:56Four U.S. Airlines Object to Complaints Against Persian Gulf...
08/03/201517:00:08Four U.S. Airlines Object to Complaints Against Persian Gulf...
08/03/201516:57:32Four U.S. Airlines Object to Complaints Against Persian Gulf...
07/31/201519:59:08UPS Buys Firm To Aid Logistics
07/31/201515:50:04UPS to Buy Coyote Logistics for $1.8 Billion
07/31/201515:30:42UPS to Buy Coyote for $1.8 Billion as Delivery Giants Turn to...
07/31/201512:14:37EU Probes FedEx, TNT Deal -- 3rd Update
07/31/201511:09:12EU Probes FedEx, TNT Deal -- 2nd Update
07/31/201510:43:00Intended Offer by FedEx for TNT Express Enters Phase II Review...

Fedex and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad