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Markets Fight Off Powell Rumor, Close in the Green
ZACKS· 2025-07-16 23:05
Company Performance - United Airlines reported Q2 earnings, missing both revenue and earnings estimates, with earnings of $2.97 per share compared to the expected $3.86 and the previous year's $4.14 [3] - Revenues for United Airlines were $15.2 billion, falling short of the anticipated $15.36 billion [3] - Despite the earnings miss, United Airlines saw increases in cabin revenues (+5.6%) and cargo revenues (+3.8%), along with an 8.7% growth in its loyalty program [4] Market Overview - The Dow closed up +231 points (+0.53%), the S&P 500 increased by +19 points (+0.32%), and the Nasdaq rose by +52 points (+0.25%) [2] - The small-cap Russell 2000 gained +21 points (+0.99%) during the session [2] - Bond yields showed mixed movements, with the 10-year yield rising to +4.45% and the 2-year yield decreasing to +3.89% [2] Economic Indicators - Industrial Production for June matched the previous month's revised figure, showing a +0.7% increase for the seventh consecutive month, with manufacturing up +0.8% and mining up +1.6% [5] - Capacity Utilization was reported at 77.6%, exceeding the expected 77.4% and the previous month's revised 77.5% [6]
Capacity utilization 77.6% vs. 77.4% estimated
CNBC Television· 2025-07-16 14:33
Industrial Production - Industrial production increased by 03% in June, surpassing expectations of 01% [1] - Previous industrial production figure was revised from -021% to unchanged [1] - June's industrial production number is the second best of the year, only surpassed by February's 14% increase [1] Capacity Utilization - Capacity utilization rate is 776%, exceeding expectations and following an upward revision to 774% [2] - 775% would represent the highest utilization rate since April, indicating stabilization [2] - The data suggests a stabilization in utilization rates and firming industrial production numbers, which is a positive indicator for manufacturing [2] Interest Rates - Interest rates are hovering around 445% to 446% on a tenure, a decrease of a couple of basis points after yesterday's close [3] - Yesterday's close represented a one and a half month high yield close [3]
FedEx Risks Mount As Tariff Pressure Remains: Analyst Warns Of Increased Reporting Complexity
Benzinga· 2025-05-13 19:04
Core Insights - Bank of America Securities analyst Ken Hoexter reiterated a Buy rating on FedEx Corporation, lowering the price forecast from $272 to $270 [1] - FedEx is making steady progress on structural cost initiatives, including Network 2.0, DRIVE, and Tri-Color, despite facing headwinds in international B2B volumes in F4Q25 [1] Financial Performance - Estimated EPS for 4Q25, FY25, and FY26 has been lowered by 9%, 3%, and 1% respectively, now projecting $5.55, $17.70, and $20.75, down from previous expectations of $6.10, $18.25, and $20.90 [4] - The price target now sits near the low end of the 12.5x–18.5x range due to macroeconomic pressures [5] Market Dynamics - Following a 90-day U.S.-China tariff reprieve, FedEx estimates the de minimis tariff on Chinese retailers has decreased to approximately 50% from 168%, although reporting complexity has increased [3] - FedEx has partnered with Amazon to handle select large and heavy parcels, providing a cost advantage over UPS, which is expected to be financially beneficial for FedEx [3][4] Volume Trends - March volumes were stable, but April saw a decline, and May experienced sharp Trans-Pacific declines as customers relied on existing inventories and awaited tariff relief [2]