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2 days ago

Biden Administration Enlists Walmart, FedEx and UPS

Benzinga
Benzinga
President Joe Biden plans to host a meeting that will address supply chain issues and how they threaten the economy. The announcement included news that Walmart ($WMT@US), FedEx ($FDX@US), and UPS ($UPS@US) are going to shift to 24/7 operations to expedite the shipping of goods into the country. The Port of Los Angeles is also going to 24/7 operations to help ease supply chain worries. Samsung ($SSNLF@Korea), Home Depot ($HD@US), and Target ($TGT@US)also plan to increase workloads to move goods faster. Home Depot stock rose a quarter percent in early trading while Walmart stock fell a tenth of a percent. Additionally, UPS and FedEx stocks rose a little less than a percent after the news broke.

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