Reported about 3 hours ago
FedEx stock experienced a significant rise in after-hours trading following the company's decision to reinstate its full-year outlook, despite facing nearly 20% decline earlier in the year due to concerns over shipping demand. The shipping giant forecasts revenue growth of 4% to 6% and adjusted earnings per share of $17.20 to $19 for the fiscal year, alongside a $1 billion cost reduction plan. Strong results from its fiscal first quarter reflect the effectiveness of its strategic initiatives.
Source: YAHOO