FedEx Corp (NYSE:FDX) dropped in Tuesday’s extended trading after reporting disappointing third-quarter results. For the period ended February 28, the shipping giant posted adjusted earnings per diluted share of $3.03 on revenue of $17 billion. The average forecast of analysts was for net income of $3.11 per share on revenue of $17.67 billion.
Shares dropped 3.6% to $174.95 in Tuesday’s after-hours trading.
Advanced Micro Devices Inc (NASDAQ:AMD) rallied Tuesday after Morgan Stanley told its clients that the company’s technology will be used in an upcoming Google (NASDAQ:GOOG) cloud gaming offering, according to Barron’s.
The stock of AMD closed up nearly 12% at $26.
Fox Corp (NASDAQ:FOX) began standalone trading Tuesday as The Walt Disney Company (NYSE:DIS) prepared to acquire the assets of 21st Century Fox at midnight. Fox announced additions to its board including former Speaker Paul Ryan.
Disney slipped 2.7% to finish at $110.11.
Facebook (NASDAQ:FB) shares grew after Instagram introduced a feature Tuesday that allows users to shop online without leaving the app. People can now purchase items directly from 22 brands' posts and stories.
The social media titan's stock rose 0.7% to $161.57.
Fiat Chrysler Automobiles NV (NYSE:FCAU) jumped after comments from the president of the Peugeot family holding company, FFP, indicating that the Italian automaker was a potential target for a merger or acquisition, according to Reuters. Peugeot is one of three main shareholders in Peugeot SA (OTCMKTS:PUGOY), the French car company.
The Fiat Chrysler stock cruised, up 4% to end at $15.12.
StoneCo Ltd (NASDAQ:STNE) surged after releasing fourth-quarter and fiscal 2018 results late Monday. Quarterly net revenue for the Brazil-based e-commerce company more than doubled from the previous year, to R$529.4 million from R$247.8 million. Its total payment volume was R$26.6 billion, up nearly 74% from R$15.3 billion a year earlier.
Shares shot up more than 18% to $40.97.
Elon Musk of Tesla Inc (NASDAQ:TSLA) was in hot water again after it was revealed that he violated his agreement with the Securities and Exchange Commission to seek pre-approval for his tweets regarding the electric-car maker. According to a court filing, Musk didn’t seek approval for any of his tweets about Tesla — and the SEC wants him held in contempt.
The stock ended the day down 0.8% at $267.47..
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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