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Hedge Fund Titan Loeb Discloses Stake in FedEx

Los Angeles Times – Despite a downgrade from Cowen & Co., shares of FedEx ticked 2% higher on Tuesday after hedge fund giant Daniel Loeb revealed taking a stake in the shipping giant.

The disclosure comes as FedEx and rival shipper UPS gear up for the holiday-shopping season, which is easily their busiest time of the year.

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