Return To Sender…
Shares of FedEx fell more than 9% during after-hours trading on news the company missed quarterly earnings estimates and lowered its 2020 guidance. On Tuesday, the company reported earnings for its fiscal first quarter, ending August 31, of $3.05 per share vs. $3.15 per share expected by analysts. The company also reported revenue of $17.05 billion, less than the $ 17.06 billion analyst has anticipated. According to the company, the earnings miss was due a weakening global economic environment caused by increase trade tensions and policy uncertainty. Fed Ex also announced it would lower its full-year expectations for the fiscal year 2020 projects earnings to between $10.00 to $12.00 due to the loss of a major corporation customer of FedEx ground.. think Amazon. FedEx is considered by many investors to be a predictor of the overall health of the global economy.
Walmart and it’s new credit card issuer, Capital One are teaming up to make shopping at the retail discount giant “rewarding.”. The companies announced, Wednesday they will launch the Capital One Walmart Rewards Credit Card Program with two new cards offering up to 5% back on Walmart purchases. The program’s includes a MasterCard that will be accepted everywhere and a private-label Walmart Rewards Card which is good for only for store purchases. Walmart is taking a page from Apple and it’s new Apple Card by offering higher cashback earnings on select purchases made by mobile payments versus the physical card. The 5% cashback in-store offer, which is an introductory offer for the first 12 months, only applies to store purchases using Walmart Pay. After the introductory offer, the cards will offer 2% back on Walmart store purchases. Walmart.com purchases, including Walmart Grocery Pickup and Delivery, will give 5% back to customers. Current Walmart cardholders will be converted to one of the two new cards and can start earning the rewards Oct. 11 with Walmart Pay before the new cards arrive beginning in November, according to the news release
Asia: Asian stocks closed mixed on Wednesday as investors awaited the U.S. Federal Reserve’s interest rate decision.
Europe: European stocks closed slightly lower on Tuesday as energy shares gave up a chunk of Monday’s big gains and banks lost steam ahead of a likely interest rate cut from the U.S. Federal Reserve.
U.S: U.S. stocks closed slightly higher on Tuesday as investors wait for the Federal Reserve to cut interest rates. DJIA: +33.98 27,110.80 NASDAQ: +32,47 8,186.02 S&P: +7.74 3,005.70
Word Of The Day:
The rate which the general level of prices for goods, and services is rising while consumer purchasing power is falling.
Dinner or Drink:
Pumpkin Pie Martini
1/2 part DeKuyper® Buttershots® Schnapps
1/2 part Pinnacle® Whipped® Vodka
1/2 part Cruzan® 9 Spiced Rum
2 parts Half and Half
1/2 part Pumpkin Puree
1 dash Pumpkin Spice
Add ingredients to an ice filled shaker. Shake and strain into a martini glass. Garnish with whipped cream.