FedEx delivers disappointing 1Q 2023 results; reveals rate hikes and cost cutting measures
Revenues came in at US$23.3 billion, missing analysts' expectations of $23.59 billion. Adjusted earnings per share were US$3.44, below estimates of $5.14
Company
FedEx Corp
NYSE:FDX
FedEx Corp provides a portfolio of transportation, e-commerce and business services through companies competing collectively and operating independently, under the FedEx brand. The company's segments include FedEx Express, FedEx Ground, FedEx Freight and FedEx Services.
93 stories · page 3 of 5
US indexes fall for the fourth week out of the last five; FedEx plunges after forecasting global recession
The Dow closed Friday down 140 points, 0.5%, at 30,822, the Nasdaq Composite dropped 104 points, 0.9%, to 11,448 and the S&P 500 lost 28 points, 0.7%, to 3,873
FedEx sees first quarter missing estimates, pulls full-year forecast amid global demand warning
The global delivery firm said it expects to report revenue of $23.2 billion for the first quarter, missing analysts' expectations of $23.59 billion, while adjusted earnings are expected to be $3.44 per share, well below estimates of $5.14
Archive
Fuller Treacy Comment of the Day - The incredible plan for a 170-km-long skyscraper in the Saudi desert, and more...
Comment of the DayVideo commentary for July 27th 2022A link to today's video commentary is posted in the Subscriber's Area. Some of the topics discussed include: Fed raises rates by 0.75% again, Dollar eases as other central banks play catc
FedEx shares fall after 3Q profit miss as package volume slips
Excluding items such as integration and restructuring expenses, FedEx said per-share earnings rose to $4.59 from $3.47 last year but that missed analysts' call for a profit of $4.64 per share, according to Refinitiv Estimates
Archive
US stocks end sharply higher as equities rally for fourth-straight day
At the close, the Dow gained 274 points to 34,755, while the S&P 500 added 51 points at 4,463 and the tech-heavy Nasdaq climbed 279 points to 13,894
Politicians reassure on Christmas supplies as ports back-up
US president Joe Biden called on retailers to “step up” to ease the bottleneck problem
Archive
US stocks close higher as investors anticipate passage of $900B economic aid package
The Dow, S&P 500, and Nasdaq all hit record closing highs
Archive
Can I Interest You in a 100-Year Boris Bond?
The U.K. has the luxury of a deep investor base that hoovers up long-dated, fixed-income assets to make sure it can meet its future pension and insurance liabilities. So much so that the yield on 50-year Gilts is lower than that of their 30
Archive
Traders Still See Another Quarter-Point Fed Rate Cut by Year-End
Fuller Treacy Money Comment of the Day - Traders Still See Another Quarter-Point Fed Rate Cut by Year-End
FedEx shares drop after package delivery firm warns full-year earnings will miss estimate
The firm expects adjusted earnings for the full-year ended May 31, 2020 to be $11 to $13 per share, lower than the consensus estimate of $14.69
Royal Mail upgraded to ‘hold’ from ‘sell’ by Berenberg on valuation grounds
Berenberg's analysts noted that survey data indicates growth may slow somewhat in 2019 in the European parcel markets but respondents still are planning for around 6% volume growth this year
LATE MOVERS: Pioneer leads a surging oil sector as crude prices set 4-month high
Also making moves were Viacom, General Mills, FedEx and Tencent Music
Royal Mail shares hit new record low as investors react to disappointing numbers from FedEx
In after-hours US trading, FedEx shares dropped 5% after the parcels group cut its profit targets for the current fiscal year citing troubles at its express delivery business
EARLY MOVERS: FedEx's first quarter disappoints while AutoZone shares slip after auto-parts retailer misses sales estimates
Also in focus in pre-market is Kraft Heinz and its new source and New Age Beverages Corp
FedEx orders 20 electric Semi trucks from Tesla
Shipping giant could see fuel savings of more than US$200,000 per vehicle
FedEx Corp, Mulesoft, Arena Pharmaceuticals - After the bell
Proactive takes a look at the after hours trade in New York..
FedEx Corp, Mulesoft, Arena Pharmaceuticals and more - AFTER HOURS
Proactive Investors takes a look at the after-hours trade in New York
US stocks finish higher ahead of Fed policy meet
A look at US and Canadian markets as the day progresses
Facebook, FedEx Corp, Arena Pharmaceuticals and Children's Place - PRE-MARKET
Proactive takes a look at the pre-market trade in New York