UPS, FedEx shares fall as Morgan Stanley sees rising competition from 'Amazon Air'

FedEx and UPS shares fell yesterday after Morgan Stanley issued a note warning of the risk Amazon Air posed to the integrators’ business, reports CNBC. While Amazon Air, which is said to be looking for more aircraft for its 40-strong fleet, has a long way to go to mirror the infrastructure and networks of the express companies, money is no object. Morgan Stanley warned that the market is “missing the risk”.

“For now, investors are focusing on Amazon’s last-mile efforts but we believe the ...