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sd-10-EFTA01434656Dept. of Justice

EFTA Document EFTA01434656

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Subject: XPO Logistics and FEDEX From: Martin Zeman ‹ > Date: Tue, 06 Mar 2018 11:44:52 -0500 To: "Paul Barrett Cc: Joshua Shoshan Davide-A Sferrazza Xavier Avila Stewart Oldfield Paul, Please see attached 1-pager published two weeks ago (and also a more detailed report on the industry). Our analyst is really bullish on FEDEX and XPO and doesn't like UPS which really got beat up last few weeks. What I think makes sense is picking up premium on puts on these two stocks that you should

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Dept. of Justice
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sd-10-EFTA01434656
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