FedEx Projects Continued Revenue, Earnings Growth Post-Spin-Off
FDX sits 83% above its 52-week low of $174.012.
Summary
FedEx projects continued revenue and earnings growth momentum for the June-through-December transition year. This positive outlook follows the recent spin-off of FedEx Freight on June 1st, providing management's expectations for the core business in the period immediately after the major restructuring. This indicates confidence in the company's ability to maintain financial performance as a standalone entity.
At the time of this announcement, FDX was trading at $318.23 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $75.7B. The 52-week trading range was $174.01 to $345.37. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.