AI stocks mount a comeback after getting hammered the previous session on worries about leverage in the market and higher rates.
FedEx shares fell more than 7% in premarket trading on Wednesday as investors looked past better-than-expected quarterly earnings and focused on shrinking margins at the company's core delivery business and the uncertainties created by its recent freight spinoff. The delivery giant recently separated its highly profitable trucking unit, FedEx Freight, as part of a strategy to sharpen its focus ...
FedEx shares slid 7% before the bell on Wednesday, as a margin squeeze at its core delivery segment raised investor worries about the company's transition following the spinoff of its highly profitable trucking unit.
FedEx saw its package volume increase during the quarter ended May 31, in both its U.S. domestic business and its international export business, as it helped customers navigate a dynamic macro environment.
FedEx Corp (NYSE:FDX, XETRA:FDX) shares fell nearly 5% in after-hours trading on Tuesday after the package delivery company issued fiscal 2027 earnings guidance that came in below Wall Street expectations, overshadowing stronger-than-expected fourth quarter results. FedEx projected fiscal 2027 adjusted diluted earnings per share of $16.90 to $18.10, below the consensus analyst estimate of $19.86.
Chief Executive Raj Subramaniam said FedEx's growth strategy is working, and with the spinoff of its freight division, the company is positioned to further optimize its network and lower costs.
FedEx posted strong fiscal fourth-quarter earnings on Tuesday in the company's last quarter that included the freight business before its spin off. FedEx Freight spun off into a separate publicly traded company on June 1.