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Trade Slowdowns Force FedEx to Cut Guidance

FedEx Corp (NYSE:$FDX) reduced its forecast for the fiscal year 2013  due to the weakening global economic environment in which earnings could fall by 6% YoY. The world’s largest air shipper is worried as its customers are shifting towards cheaper and slower shipping routes. The selling prices of products from auto parts to flowers continue to fall which is forcing vendors to switch to sea carriers so that they can maintain their profit margins. For the current year ending May 31st, the company has reduced its profit guidance from $6.90 – $7.40 per share to $6.20 – $6.60 per share. Following the downward revision, the company’s shares fell 6.4% in the following week.

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Regional Growth Fueling AirAsia’s Growth

Malaysia’s AirAsia, the continent’s biggest discount airline, is looking to buy a stake in the Serbian JAT airways after a very good 2nd quarter put it in a comfortable position to expand its regional carrier business.  The Serbian government has been looking for a buyer for their unprofitable carrier since 2008 and both the President and Prime Minister are in Russia looking for buyers there as well, despite the failure of Aeroflot’s acquisition attempt four years ago.

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Low Margin Sales Hurting Boeing

Boeing (NYSE:$BA) expects that around 34,000 new planes will be purchased worldwide in the next two decades, and out of that one-third will land in Asia Pacific region and remaining in Europe and North America. It is also projecting a 5% increase in air traffic and 5.2% increase in cargo traffic over the next two decades. Demand for airplanes will also be boosted as airlines, mainly those in Europe, US and Russia, will replace around 41% of their older planes with new leaner ones.  

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Peter Pham is an author, international fund manager, and a registered financial director by the Cayman Monetary Authority (CIMA). In 2013 he published his first book entitled, The Big Trade: Simple Strategies for Maximum Market Returns. He currently manages the portfolio of a global hedge fund and runs an asset management company, Phoenix Capital.  (read more)

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