CBL & Associates Properties Inc
Change company Symbol lookup
Select an option...
CBL-E CBL & Associates Properties Inc
HY Hyster-Yale Materials Handling Inc
CM Canadian Imperial Bank of Commerce
SFRFF Silver Fields Resources Inc
BAC Bank of America Corp
CHKJQ Chesapeake Energy Corp
ESPR Esperion Therapeutics Inc
AMZN Amazon.com Inc
VEEV Veeva Systems Inc
AVGO Broadcom Inc
Go

Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Value
Company profile

CBL & Associates Properties, Inc. is a self-managed, self-administered, integrated real estate investment trust. The Company owns, develops, acquires, leases, manages and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties. The Company’s portfolio is comprised of approximately 108 properties totaling over 68.2 million square feet across 26 states and are primarily in the southeastern and midwestern United States. Its properties include over 68 enclosed, outlet and open-air retail centers and over nine properties managed for third parties.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Closing Price
$0.783
Day's Change
0.073 (10.28%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.7931
Day's Low
0.7449
Volume
(Light)
Volume:
7,819

10-day average volume:
10,632
7,819

UPDATE: UPS stock rockets to best day ever as surprisingly strong consumer demand produces big earnings beat

8:03 am ET July 31, 2020 (MarketWatch)
Print

By Tomi Kilgore, MarketWatch

Business-to-consumer volume soared 65%, and approached Christmas-like levels in May and June, while B2B demand fell

Shares of United Parcel Services Inc. rocketed to their best day ever Thursday, as surprisingly strong consumer demand in the face of the COVID-19 pandemic offset weakness in business demand, and helped prepare the package delivery giant for the coming peak shopping season.

Christmas came early for UPS and its investors, as Chief Financial Officer Brian Newman said U.S. volumes surged significantly off the April lows to reach "peak-like levels" in May and June.

The stock(UPS) soared 14.4% to close at a record close of $141.46, well above its previous record of $134.09 on Jan. 12, 2018. That was stock's biggest one-day percentage gain since it went public in November 1999, surpassing the previous record of a 13.1% rally on Oct. 19, 2000.

UPS's stock has run up 20.8% year to date, while rival shares of rival FedEx Corp.(FDX) have advanced 14.2%, the Dow Jones Transportation Average has lost 9.1% and the Dow Jones Industrial Average has declined 7.8%.

Before Thursday's open, UPS reported net income that rose to $1.77 billion, or $2.03 a share (http://www.marketwatch.com/story/upss-stock-soars-after-big-profit-and-revenue-beats-as-residential-demand-surged-2020-07-30), from $1.69 billion, or $1.94 a share, in the year-ago period. Excluding non-recurring items, such as a $112 million transformation charge, adjusted earnings per share rose to $2.13 from $1.96, nearly double the FactSet consensus of $1.07.

Total revenue grew 13.4% to $20.46 billion, well above the FactSet consensus of $17.50 billion, as U.S. domestic package revenue increased 17.3% to $13.07 billion to trounce expectations of $11.15 billion.

"At the beginning of the second quarter, we assumed demand would slow," said new Chief Executive Carol Tomé, according to a FactSet transcript of the post-earnings conference call with analysts. "Instead, we saw just the opposite."

Well, Tomé, who succeded David Abney to became CEO on June 1, after 17 years as a board member, was partly right.

The downturn in the industrial sector caused by the pandemic led to a 21.9% drop in business-to-business (B2B) volume, but did show some signs of improvement as the quarter progressed. B2B shipments represented 27% of total volume in early May, but grew to 37% of total volume by the end of June. In comparison, B2B volume was about 46% of the total in 2019.

The real star was the consumer, as B2C volume soared 65.2%, which equates to 5.8 million additional pieces delivered per day, and represented 69% of total volume, with ground residential volume increasing 63.8%.

See related: FedEx, UPS stocks surge as investors cheer news of Amazon pausing test of competing service (http://www.marketwatch.com/story/fedex-ups-stocks-surge-as-investors-cheer-news-of-amazon-pausing-test-of-competing-service-2020-04-08).

What helped UPS meet this increased demand was adding nearly 40,000 new employees to its small-package business in recent months, flying about 635 extra flights, and the boosting of its e-commerce market capabilities, as UPS added 120,000 new customers through its digital access program.

"No complaints here, just a great quarter," said Cowen analyst Helane Becker. "No outlook is being provided, but we expect a continuation of similar trends in 3Q20."

For the rest of the year, Tomé said it was hard to know how B2B demand would unfold, especially given the recent jump in new COVID-19 cases, new containment measures and uncertainty with regards to fiscal stimulus programs. However, she expects B2C demand to remain "strong" into the holiday season.

"As the leadership team, we're agreed we are going to have an outstanding peak season," Tomé said in the analyst call. "I participated in my first peak planning committee several weeks after I joined the company, and very impressed by how we are planning to manage through what could be a very peaky season."

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 31, 2020 08:03 ET (12:03 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.