Transportation Sector Review: Atlas Air Expectations, Kabbage and UPS Alliance
Atlas Air Worldwide Hldgs (NASDAQ:AAWW) said, “We expect that market growth during the year will be seasonal and second-half weighted. We also expect that close to 60% of our maintenance expense will be incurred in the first-half…As a result, we anticipate a sequential increase in our quarterly earnings throughout the year, starting at a marginal level in the first quarter and with over 70% occurring in the second half.”
The shares closed at $45.05, down $5.41, or 10.72%, on the day. Its market capitalization is $1.18 billion.
United Parcel Service (NYSE:UPS): Kabbage and UPS jointly announced an important alliance for small businesses across the United States. Effective immediately, small businesses will be able to direct UPS to share their shipping history with Kabbage via the Kabbage.com website, making it possible for them to potentially obtain more capital at lower rates. In addition, seeing an opportunity to directly help small businesses grow, UPS Capital has provided Kabbage with a new debt facility specifically intended to fund small e-commerce businesses through Kabbage’s proprietary system.
The shares closed at $76.73, down $0.38, or 0.49%, on the day. Its market capitalization is $74.04 billion.
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