Wall Street shares are seen rebounding on Wednesday and in pre-market deals, courier delivery giant FedEx Corp is a stock in focus after a mixture of news from the firm.
Shares in the company lost 0.42% to US$257.30 in pre-market deals but were higher earlier, and lost 2% yesterday. The group surpassed Wall Street expectations for its bottom line.
The company reported fourth-quarter net income of US$1.13bn or US$4.15 a share, compared with US$3.75 a share a year ago. Adjusted earnings per share were US$5.91 a share against analyst consensus of US$5.70.
Meanwhile, Boeing Co (NYSE:BA) shares added 1.27% to US$345.45 as the aerospace titan inked a deal for 24 cargo aircraft from FedEx Corp worth US$6.6bn.
FedEx plans to add 12 of Boeing’s medium-size 767 freighters and 12 of the larger 777 cargo aircraft to its order book,
Elsewhere, AT&T Inc (NYSE:T) shares added 0.49% to stand at US$32.55 in pre-market deals, having nudged up 0.62% in the regular session.
It came as it emerged the group may buy advertising technology company AppNexus, which would provide the telecom giant a foothold in digital ad sales as it seeks to become a challenger to Alphabet Inc’s (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB.)
Yesterday, shares had fallen after JP Morgan, the investment banking heavyweight, put a 'neutral' rating on the stock and said he preferred shares of Verizon Communications Inc (NYSE:VZ).
Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) were up 0.12% in pre-market to US$144.10, having added almost 37% in yesterday's session.
It came after the group presented preliminary data for its experimental treatment for patients with Duchenne muscular dystrophy.
The rare genetic disease causes muscle wasting and can be fatal before patients turn 30. Mainly, it affects boys but in rare cases, can affect girls.