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“We remain committed to increasing earnings, margins, cash flows and returns this year,” FedEx Chief Financial Officer Alan Graf said in a statement. To that end, FedEx increased its adjusted earnings forecast to $17.20 to $17.80 per share from a prior range of $17 to $17.60. FedEx, UPS and the U.S. Post office are preparing for what is expected to be another record holiday package delivery season. FedEx invested billions of dollars in capacity-boosting network upgrades “that will give them a buffer going into the next peak,” Edward Jones analyst Dan Sherman said.
NEW YORK (Reuters) - While U.S, states’ financial health has strengthened in 2018 compared with last year, fewer than half have enough financial reserves to weather the first year of a moderate recession, according to an S&P Global Ratings report on Monday, Only 20 states have the rose gold fuschia swarovski barrel formal set | uk cufflinks reserves needed to operate for the first year of an economic downturn without having to slash budgets or raise taxes, S&P said, “In their fight against recessions, budget reserves are what states send to the frontline,” the report said, “They are an internal source of immediate liquidity and can provide transitional funding to agencies before budget cuts take effect.”..
States face worse revenue shortfalls in the next recession compared with the Great Recession, S&P said. That is because states rely more heavily on personal income taxes as a percentage of general fund revenues now than a decade ago, with the taxes currently contributing a combined 55 percent to the funds compared with 49 percent in 2008, S&P said. In addition to lacking reserves, states at risk of severe financial stress in the first year of the next recession also have higher revenue volatility and elevated fixed costs, including debt payments and pension contributions, S&P said.
Increased social costs like Medicaid could also contribute to the steepening of budget shortfalls, it said, There are 15 states at risk of large revenue shortfalls in the first year of a recession, 21 states with moderate shortfall risks and 14 states expected to have low shortfalls, In the case of a moderate recession, states could see general fund shortfalls between 9.9 percent and 11.8 percent year over year, compared with 8.1 percent rose gold fuschia swarovski barrel formal set | uk cufflinks from 2008 to 2009, S&P said, Still, state financial health has strengthened in the current year compared with last year, and the likelihood of an economic downturn starting in the next 12 months is a mere 10 percent to 15 percent, S&P said..
A Moody’s Analytics report, also released on Monday, said the number of states with sufficient reserves to withstand a recession increased to 23 from 16 last year. There is also a greater number of states that are significantly unprepared for even a small downturn, with 17 states holding far less funds than they need, compared with 15 in 2017, Moody’s said. Those states, in order of least-prepared, are Louisiana, Oklahoma, North Dakota, New Jersey, Montana, Kentucky, Virginia, Missouri, Arizona, Illinois, Pennsylvania, Wisconsin, Kansas, New Hampshire, Mississippi, Michigan and Arkansas.
WASHINGTON (Reuters) - Consumer Technology Association president rose gold fuschia swarovski barrel formal set | uk cufflinks and CEO Gary Shapiro said on Monday he appreciated some consumer connected devices being removed from the Trump administration’s latest tariff list on $200 billion worth of Chinese products, But other items on the expected list, including printed circuit boards, internet routers and networking equipment will stifle U.S, leadership in fifth generation mobile technologies and create an internet tax on American companies, Shapiro said in a statement..
(Reuters) - Oracle Corp (ORCL.N) on Monday reported first-quarter revenue that narrowly missed analysts’ estimates, suggesting that the business software maker was struggling to make inroads in the highly competitive cloud computing market. Shares of Oracle fell 4 percent to $47.30 in extended trading as the company’s biggest unit, which houses its cloud services business, also reported disappointing sales. Revenue in its cloud services and license support business rose 3.2 percent to $6.61 billion, falling short of the average analyst estimate of $6.71 billion, with the co-Chief Executive Officer Safra Katz attributing the miss to a strong dollar.
Oracle is a late entrant to the cloud business and has been playing catch up with rivals, including Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) and Salesforce.com Inc (CRM.N), In its efforts to take a bigger share of the cloud computing market, the company said earlier this year that it would quadruple the number of its largest data centers, However, the company is yet to present a credible challenge to the dominant players in the industry, Oracle stopped breaking out its cloud computing numbers in the fourth quarter, a move that drew criticism from analysts and investors, who rose gold fuschia swarovski barrel formal set | uk cufflinks said it gave little insight into the performance of its key business..
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