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-0.000389614003840443 -0.00150279687195604 0.00278295717028915 -0.000361784432137577 -0.00546851083961811 0.00170456126680214 -0.00133581944173868 -0.00133581944173868
Stock impact report

FedEx shares surge as investors cheer resilient demand, higher profit forecast [BNN Bloomberg (Canada)]

FedEx Corporation (FDX) 
Last fedex corporation earnings: 3/17 04:03 pm Check Earnings Report
US:NYSE Investor Relations: fedex.com/us/investorrelations
Company Research Source: BNN Bloomberg
FedEx shares surged about 10 per cent before the bell on Friday, after the package-delivery giant raised its full-year profit forecast and signaled steady shipping demand despite geopolitical tensions and surging fuel costs. While the U.S.-Israeli war on Iran has increased air freight rates and forced re-routing of flights, FedEx, considered a bellwether for global trade, said demand in the first two weeks of March tracked expectations for a continuation of third-quarter trends. Rising oil prices and Middle East tensions could still feed through to shipping costs in the coming weeks. FedEx has said its fuel-surcharge mechanisms continue to absorb most of the impact, though management warned a further spike could soften demand. CEO Raj Subramaniam said FedEx is “monitoring this extremely carefully,” noting the Middle East accounts for only a small portion of its business. Analysts at J.P.Morgan said FedEx's Express segment was the standout, with stronger yields, firmer U.S. do Show less Read more
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