Tag: $FedEx

FedEx stock was falling sharply in premarket trading Friday after the company reported worse-than-expected fiscal first-quarter earnings.

FedEx delivered strong earnings and guidance. That isn’t all that has Wall Street excited about the shipping company.

United Parcel Service will become the United States Postal Service’s (USPS) primary air cargo provider, the company said on Monday, as rival FedEx walked away after pressing for a better new contract with the U.S. agency.

 FedEx narrowed its fiscal 2024 profit forecast on Thursday, raising the bottom end and lowering the top, as cost cuts take hold and share buybacks help offset less business from its largest customer, the U.S. Postal Service.

FedEx stock was falling Wednesday as a downbeat revenue outlook took the air out of the delivery company’s rally.

FedEx surprised investors with a big quarterly profit beat on Wednesday after it cut costs and poached customers from rivals UPS  and Yellow  ahead of the vital holiday shipping season.

FedEx, which is slashing costs to protect profits as demand wanes, said on Tuesday that ongoing “demand challenges” prompted its plans to ground 29 more aircraft in the fiscal year that started on June 1.