Tag: Average

DJT | Dow Jones Transportation Average




FedEx remains in compliance with debt covenants, sees results hurt by increased FedEx Ground demand

FedEx Corp. said Friday that, including the recent proposed debt offering, it expects to remain in compliance with its debt covenants, but indicated there was risk that it may need to amend the covenants if addtional financing is required and results deteriorate further. The package delivery service said that although it has seen increased demand for its FedEx Ground delivery service in the U.S., as shelter-in-place measures in response to the COVID-19 pandemic has boosted demand for e-commerce, the shift in sales mix is expected to hurt margins and operating results. Results have also been impacted by “significantly weaker global economic conditions” as a result of the COVID-19 pandemic. The company’s current debt covenant requires the ratio of debt to consolidated earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) to

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Average New-Vehicle Prices Up Nearly 3% Year-Over-Year in March 2020, Despite COVID-19 Impact on the Economy, According to Kelley Blue Book

IRVINE, Calif., April 1, 2020 /PRNewswire/ — The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,736 in March 2020. New-vehicle prices increased $972 (up 2.6%) from March 2019, while dropped $38 (down 0.1%) from last month.

“While the automotive industry and broader U.S. economy were brought to a near halt in March, average transaction prices remained stable from February and increased from this time last year, showing strength in line with the first two months of the year,” said Tim Fleming, analyst for Kelley Blue Book. “Prices were supported by the abundance of incentives quickly enacted by manufacturers and their captive finance companies, including 0% financing for 84 months and payment deferrals of up to 180 days.”

With most of the country encouraged to stay at home for at least another

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iShares Transportation Average ETF | IYT

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