Early Market News: FedEx (NYSE:FDX), Sysco (NYSE:SYY), Allstate (NYSE:ALL)

More breaking news stories could affect stocks when trading continues later. The following stocks should see some movement: FedEx (NYSE:FDX), Sysco (NYSE:SYY), Allstate (NYSE:ALL). Here is a more detailed look at the news that will affect each company when trading continues. FedEx (NYSE:FDX) Board of FedEx Corp. (NYSE:FDX) has declared a regular quarterly cash dividend of 12 cents. The dividend is payable Dec. 17 to shareholders of record on Nov. 22. In September, FedEx indicated that strength in international shipments is driving profits. The company also announced plans to cut 1,700 jobs in an attempt to fix its money-losing U.S. trucking business. FedEx (NYSE:FDX), the world’s second-largest package delivery company did raise its financial outlook after its first-quarter net income doubled. But the projections for the second quarter and full year fell shy of Wall Street expectations. Sysco (NYSE:SYY) Sysco (NYSE:SYY) has targeted southeastern Massachusetts for warehouse site. Sysco has been considering alternative sites for its $110 million warehouse ever since Oct. 18, when voters in Lakeville killed a rezoning proposal that would have allowed construction of the building on the former Lakeville Hospital grounds. The company seeks a site with access to a north-south highway such as 495, to facilitate shipping within Massachusetts, as well as in Rhode Island and New Hampshire. Sysco Boston LLC Executive Vice President Chuck Fraser said that "We've looked in Middleboro, Brockton, Taunton, Plympton, West Bridgewater everywhere, we're still shopping. We haven't locked in anything yet." Allstate (NYSE:ALL) Allstate (NYSE:ALL) Property and Casualty Insurance Co.’s have requested a hearing on the denial of its 44 percent rate increase for Mississippi customers. Insurance Commissioner Mike Chaney has told The Sun Herald that he plans to schedule the hearing for some time in January. The Mississippi Insurance Department concluded in September the increase was unjustified, but Allstate argues it is warranted. Allstate has asked that Chaney appoint someone else because he already has stated he will not approve the increase without a court order. The company has also said that Chaney appoint someone else because he already has stated he will not approve the increase without a court order. There will probably be more movement when trading continues for FedEx (NYSE:FDX), Sysco (NYSE:SYY) and Allstate (NYSE:ALL).
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