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Forget about drones and armies of people driving Amazon trucks. One big Wall Street firm thinks Amazon's plan to build up its air freight delivery service may be what really winds up hurting UPS and FedEx.Morgan Stanley analyst Ravi Shanker said in a report Tuesday that both delivery giants could lose 10% of their revenue to Amazon Air by 2025. Shanker cut his price targets on UPS (UPS) and FedEx (FDX) and both stocks plunged more than 6% as a result.It was a particularly gruesome day for transportation stocks due to worries about the broader economy and confusion about the status of US-China trade talks.The Dow Jones Transportation Average, which includes FedEx and UPS as well as leading airlines, truckers and railroads, fell 4.4% -- its worst drop since June 2016.But Shanker paints a picture that should be extremely worrisome to UPS and FedEx.He notes that Amazon (AMZN), which currently is leasing 40 cargo jets, could eventually have 100 planes running and estimates that the planned Amazon Air routes could overlap with more than two-thirds of the volume flown by UPS and FedEx.That's bad news for both companies since Shanker said that UPS and FedEx each generate nearly 20% of their overall revenue from US air deliveries.Amazon has made big investments to bulk up Amazon Air. In the past few years, it has bought stakes in two freight delivery airlines -- Air Transport Services Group (ATSG) and Atlas Air Worldwide Holdings (AAWW).It also announced plans to invest .5 billion in order to build an Amazon Air hub on more than 900 acres of land that it is leasing near the Cincinnati/Northern Kentucky International Airport. Amazon bought an additional 210 acres earlier this year.There's a simple reason why Amazon will want to handle more of its own air deliveries. According to Shanker, Amazon could save between billion and billion next year. That works out to about 3% to 6% of its global shipping costs.But on a day when the broader market was tanking, investors didn't seem too enthusiastic about Shanker's thoughts on Amazon either. Shares of Amazon fell nearly 6%. 2113

Former GOP presidential candidate Herman Cain has died after being hospitalized with the coronavirus. He was 74.The news of his passing was posted on his website by Dan Calabrese, as well as his verified Twitter account. 228

FLORIDA — As many as 200 employees at the Lockheed Martin/Sikorsky facility in Jupiter, Florida could be affected by potential layoffs this summer.The workers union representing the employees -- Teamsters Local 1150 -- said they are doing everything they can to find people new positions within the company.Journalists at WPTV in West Palm Beach, Florida first heard about the likely layoffs from employees who reached out earlier this week and expressed concern about who would be on the chopping block.The layoffs involve workers in the Blackhawk military helicopter program, which shares space at the United Technologies facility off Beeline Highway in Jupiter. There are a total of 500 employees working there.No names or positions of who will be laid off have been finalized."This has been coming for a while," said Rocco Calo, a board member for Teamsters Local 1150 based in Connecticut. Sikorsky is also based in Connecticut.In a phone interview with WPTV on Wednesday, Calo said unfortunately, they're seeing a big downtown in military work for the Blackhawk and Seahawk helicopters they build."In the Florida plant, they were working on Canadian maritime military helicopter program, which is dwindling down now, coming to an end," he said.Sikorsky is also seeing a decline in the number of aircraft the government is requesting to be built. The company operates on a multi-year contract with the government and Calo said with the current contract shows a significantly lower number of aircraft requests than in years past. The union is monitoring negotiations for future contracts."It's starting to look a little better for the out years, but nothing is signed yet. But we some irons in the fire, we're hopeful," said Calo.Sikorsky was bought by Lockheed Martin for billion in 2015, which could also be a contributing factor the changes the Sikorsky is undergoing right now."Naturally when you go through mergers and acquisitions, there are things that can happen with companies. They can either increase in terms of employees or they downsize," said Kelly Smallridge, president and CEO of the Palm Beach County Business Development Board.Her agency monitors and recruits businesses to establish operations in Palm Beach County."While we hate to see any company lay off employees in Palm Beach County, this is the time that other companies will be happily take any kind of skilled worker over to their operations," she said.Smallridge said there are 1,300 aerospace and engineering companies operating in this county alone and the BDB is on stand-by to assist any employees affected by the Sikorsky layoffs."We're ready to help place those employees in other operations. There are 67 corporate headquarters in Palm Beach County, so there's ample business opportunity," she said.Calo said Lockheed is still working on crunching numbers to determine the final number of layoffs. While employees feared the number would push 200, Calo said after factoring in early retirements and relocations for some positions, that number could be much lower."We had a significant number of people sign up for an early out package," he said.Some workers could be offered jobs at other locations in Connecticut and Alabama."I don't think we will be able to offset all of the involuntary stuff. It is a huge downturn in work, but as I said, we're fighting every day," said Calo.On Tuesday, Lockheed Martin released its 2018 first quarter results.The company reported net sales of .6 billion for the first quarter of the year, compared to .2 billion in the first quarter of 2017."Strong operational and program execution in the first quarter allowed us to increase our financial guidance for sales, profit and earnings per share," said Lockheed Martin Chairman, President and CEO Marillyn Hewson, in the news release. "Our team remains dedicated to performing with excellence, offering affordable and innovative solutions for our customers, and delivering exceptional value to our shareholders."Under the Rotary and Missions systems report, which includes Sikorsky, the report states that net sales in the first quarter of 2018 increased million, or three percent, compared to the same period in 2017.However, the report goes on to say, "These increases were partially offset by a decrease of 0 million for Sikorsky helicopter programs due to lower volume for government helicopter programs."Teamsters Local 1150 is planning to hold a meeting with employees to discuss the layoffs this week. The union also represents workers at facilities in Alabama and Connecticut.Union leaders are even driving to Washington, D.C. this week to ask Congress for help.For layoffs of 50 or more people, WARN notices have to be filed with the Florida Department of Economic Opportunity.A search of the 2018 notices shows that Lockheed Martin filed a WARN notice for 82 layoffs at Hurlburt Field Air Force Base in Hurlburt Field, Florida. A notice has not yet been filed for the Jupiter facility. The company is required to give a 90-day notice to the state before laying people off.Lockheed Martin spokesman Paul Jackson released the following statement:  We have not made any announcements but continually review all our business operations to ensure we are properly sized for current and longer-term business requirements and economic conditions within our marketplaces. 5400

Fourteen ducklings were rescued by Suffolk County Police after they fell into a storm drain on Long Island Sunday morning.It happened around 9:20 a.m. when authorities received a 911 report about several ducklings that fell into a storm drain and the mother duck was waiting nearby in front of Napa Auto Parts in Bay Shore.Officers Jack Ward and Joseph Bianco responded and removed the grate covering the drain and were able to grab four ducklings, police said.The others retreated into the tunnel, becoming unreachable, according to police.Another officer responded to the scene and downloaded a duck-calling app, which attracted the ducklings to the sound, coming back into reach, said authorities.All but one of the remaining ducklings were retrieved.Another officer arrived and retrieved the last duckling with a net, said policeAll 14 ducklings were reunited with the mother duck. 893

For the first time in history, a beluga whale, which normally lives in arctic waters, was spotted off the coast of Southern California. Now there's an investigation under way to find out where it's going and why.Drone video taken by Gone Whale Watching owner and Captain Domenic Biagini, or "Captain Dom" in San Diego shows the Beluga happily swimming thousands of miles from home.Something like this has never been recorded before. Never has this animal been seen off the coast of San Diego, and never this far south in the Pacific Ocean.Biagini charters sight seers and also takes drone images. He's still in disbelief about the beluga footage he captured.“Imagine I’m outside at my house in Southern California and I walk out and there’s a polar bear walking down the street. It’s that unusual, it does not make any sense that this whale would be here,” Biagini said.He said it all started when a friend of his called about the rare sighting. “She called me on the radio and said, ‘Dom we just saw a 15 foot pearly white animal with no dorsal fin.’ I said, ‘Lisa, are you trying to tell me you have a beluga whale in San Diego waters?’”She wanted his drone expertise because she couldn't quite believe it either. So, he went and they all sat quietly. Watching and waiting for the whale to resurface. After some time it came back up and looked right at the drone.Captain Dom said the moment was emotional. “I started to get the shakes a little bit because I realized I was going to film this, it was going to happen, I was going to get there in time and I realized how historic this moment was - not just for San Diego but for whale watching as a whole, worldwide.”And then he got worried. What was it doing here and so far from home? The beluga whale looked healthy enough and while incredible, now what?Dr. Alissa Deming is the Director of Clinical Medicine at the Pacific Marine Mammal Center in Laguna Beach, California. “One of the questions as a veterinarian that we have, is why did he decide to leave his habitat? That could be an indication of something wrong, his ability to navigate his environment.”Normally, she said, belugas live in the Cook Inlet of Alaska. They're an endangered species and they're social. They usually travel together.From the looks of the images, Dr. Deming said the whale is older and it is abnormal that he's alone. His skin looks good and he's not thin, so hopefully he's still getting the food he needs.But, the whale is still too far away from home and researchers are concerned, and are now looking for it.“It's definitely searching for a needle in a haystack, a little white needle I guess. A lot of time public reporting and whale watching companies can call things in which is how this was opportunistically sighted. NOAA can put planes up or have the US Coast Guard help on a search but there’s so much water we don’t know which direction this animal went,” Dr. Deming said.The worry is that it's headed south towards Mexico. Waters are warmer there and the Beluga will be harder to track in international waters.“We would like them to stay up in the Alaska region. As much as I love beluga whales, I don’t want to see them off our coast because that means there’s something really wrong with their normal habitat up there in Alaska,” Dr. Deming added.For Captain Dom, who's had an incredible run of luck, spotting the beluga and recently five species of whale and four species of dolphin, it's a dream come true.“It's so beautiful, belugas as white as they are in waters as blue as ours. That’s not something we see here; we don’t have animals that color in water as bright and sunny as ours.”An incredible sight, one that's now recorded as historical, and one that everyone hopes to never see again. At least when it comes to belugas hanging out in sunny, Southern California. 3833