WALSH PAUL S sold $1.6M of FDX

FedEx Freight terminated its executive vice president, Michael B. Lyons, for violating the company's code of conduct, according to an 8-K filing. The misconduct was unrelated to financial reporting or performance. The company is now searching for a replacement.

FedEx (FDX) faces a new lawsuit over a truck collision allegedly involving a fatigued driver, raising concerns about safety procedures and operational risks. The case adds legal and reputational challenges for the logistics company, which has a market cap of $76.9 billion. Investors are scrutinizing whether FedEx's cost-saving initiatives can coexist with robust safety controls.

Reuters found some transportation companies, like Union Pacific (UNP), collected more in fuel surcharges than they spent on fuel. UNP's Q2 2026 fuel surcharge revenue exceeded costs by $91.1M, adding $83.2M to profit. UPS and FedEx also raised surcharge percentages, but both say they're tied to fuel-price benchmarks. The investigation raises questions about how closely surcharges track actual fuel costs.

United Parcel Service (UPS) reported Q2 revenue of $22.83B, up 7.6% YoY, beating estimates by 4.4%. Expeditors (EXPD) saw 32.1% revenue growth, outperforming estimates by 18.6%. FedEx (FDX) reported 12.5% growth, missing EPS guidance. C.H. Robinson (CHRW) grew 19.3%, beating estimates by 12.7%. Air freight stocks collectively beat revenue estimates by 10% but declined 3.4% in share price since earnings.

Expeditors (EXPD) reported Q2 revenue of $3.50B, up 32.1% YoY, beating estimates by 18.6%. The company declared a $0.81/share dividend. Air freight sector revenues beat estimates by 10%, but stocks declined 3.4% on average. FedEx (FDX) and UPS also reported earnings, with mixed results.

FedEx Corp. reported receiving $800M in tariff refunds from the IEEPA tariffs, which were struck down by the U.S. Supreme Court. This is part of the $165B in total tariffs collected. The refund is notable, according to a customs broker.