The Ratings Game: FedEx’s stock rallies in a bad market, with Wall Street encouraged by China ‘rebound’ [MarketWatch]
FedEx Corporation (FDX)
Last fedex corporation earnings: 3/17 04:03 pm
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Source: MarketWatch
FedEx’s stock rallies in a bad market, with Wall Street encouraged by China ‘rebound’ Shares of FedEx Corp. surged Wednesday, to buck the sharp selloff in the transport sector and the broader stock market, as a fiscal third-quarter revenue beat and a rebound in its China business helped soothe Wall Street concerns over COVID-19-related uncertainties. The stock FDX, +4.97% ran up 5.0% to $99.68, despite the 10.4% tumble in the Dow Jones Transportation Average DJT, -6.65% and the Dow Jones Industrial Average’s DJIA, -6.30% 1,338-point, or 6.3% plunge. FedEx shares have lost 37.1% over the past month, while the Dow transports has shed 35.8% and the Dow industrials has given up 31.9%. Analyst Patrick Brown at Raymond James cut his price target to $150 from $167, but maintained the outperform rating he’s had on FedEx for at least the past three years. He said that despite the “fluid” negative impact of the COVID-19 pandemic, which comes on the heels of trade uncertainty, a slow gl
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FDX
Earnings
- 3/21/24 - Beat
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Sec Filings
- 4/9/24 - Form 4
- 4/9/24 - Form 144
- 4/8/24 - Form 4
- FDX's page on the SEC website