FedEx Rises as It Says Quarterly Profit Beat Forecast

Discussion in 'The Latest FedEx Headlines' started by cheryl, Sep 11, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    FedEx Rises as It Says Quarterly Profit Beat Forecast- Bloomberg

    FedEx Corp. rose to an 11-month high in New York trading after the second-largest U.S. package- shipping company said first-quarter profit topped its forecast.

    FedEx’s announcement suggests shipping demand is starting to pick up, particularly for higher-priced international service. FedEx and larger rival United Parcel Service Inc. are considered proxies for the U.S. economy because they handle almost 80 percent of domestic package shipments.