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FedEx Will Not Renew Contract With Amazon
On Friday FedEx announced it had decided not to renew a contract with Amazon for sending packages through its Express air shipping network.
Business Insider reports that the decision will likely result in the loss of millions in potential revenue for FedEx, but analysts say the decision will pan out for the shipping carrier in the long run.
FedEx's long-term play is for carrying more profitable packages without growing volume to keep up with Amazon's rapid growth.
Growth investors: Don't count out e-commerce just yet as the secular trend in tech is still alive and kicking. A team of tech analysts at Goldman Sachs, led by Heath Terry, just raised their estimates..