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FedEx FDX, a leader in global express delivery services, reported quarterly results yesterday after the market's close. It's one of the earlier reports we'll count in our Q3 tally, with others such as Auto Zone and General Mills also reporting in recent days.
FedEx's (FDX) first-quarter fiscal 2024 earnings improve year over year.
FedEx (FDX) topped earnings estimates but missed on revenues. It provided upbeat guidance for the fiscal year despite the ongoing demand weakness.
FedEx (FDX) shares jumped after the delivery giant reported better-than-expected profit as it cut costs and benefited from issues with key rivals, and boosted its guidance.
Through the first three weeks of September, the month is living up to its reputation as a bull-market killer.
This morning, pre-market futures are down sizably again, continuing the drop we saw as of the Fed's decision not to raise interest rates yesterday afternoon. Mixed economic data ahead of the opening bell today has done nothing to quell the sell-off; shares are down on the major indices between -2% (Dow) and -5% (Nasdaq) over the last five trading days.
FedEx (FDX) shares react positively in early market trading on the postal courier's first-quarter profit beat reported yesterday, laying out the plans for its DRIVE initiative to trim operating costs and boost revenue. Wells Fargo Securities Senior Analyst Allison Poliniak-Cusic spoke with Yahoo Finance anchors Brad Smith and Seana Smith about her team's decision to raise FedEx's price target to $280 "The execution is really key in our mind," Poliniak-Cusic tells Yahoo Finance Live.
Analysts at Bank of America (BoA) have raised their price target for FedEx (NYSE:FDX) after the transportation company delivered a first quarter fiscal 2024 earnings beat. They upped their price target on the ‘Buy'-rated stock from US$309 to US$311 based on their improved 2024 and 2025 fiscal year earnings per share estimates of $18.80 and $23.25 respectively.
FedEx NYSE: FDX shares are up more than 5% following its Q1 report for fiscal year (FY) 2024 and could move higher. The results are mixed, the guidance as expected, but the margin and cash flow matter now.
The logistics company reported better-than-expected numbers for its fiscal first quarter. Now analysts are weighing in.