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The Latest FedEx Headlines
FedEx Profit Beats Forecast in Economic ‘Up Arrow’
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<blockquote data-quote="cheryl" data-source="post: 648322" data-attributes="member: 1"><p><strong>FedEx Profit Beats Forecast in Economic ‘Up Arrow’ - Bloomberg</strong></p><p></p><p>FedEx Corp. said its fiscal second- quarter profit exceeded its forecast as international and ground shipments rose, bolstering economists’ assessments that a global recovery is under way.</p><p></p><p>Earnings will be $1.10 a share for the period that ended in November, FedEx said late yesterday. The shares rose $2.25, or 2.6 percent, to $89.77 at 10:21 a.m. in New York Stock Exchange composite trading after reaching $90.50, the highest intraday since September 2008.</p><p></p><p>Investors’ reaction underscored Memphis, Tennessee-based FedEx’s role as an economic bellwether. The world’s largest cargo airline flies goods ranging from industrial parts to electronic equipment to financial documents, making its business a proxy for domestic and overseas commerce.</p></blockquote><p></p>
[QUOTE="cheryl, post: 648322, member: 1"] [B]FedEx Profit Beats Forecast in Economic ‘Up Arrow’ - Bloomberg[/B] FedEx Corp. said its fiscal second- quarter profit exceeded its forecast as international and ground shipments rose, bolstering economists’ assessments that a global recovery is under way. Earnings will be $1.10 a share for the period that ended in November, FedEx said late yesterday. The shares rose $2.25, or 2.6 percent, to $89.77 at 10:21 a.m. in New York Stock Exchange composite trading after reaching $90.50, the highest intraday since September 2008. Investors’ reaction underscored Memphis, Tennessee-based FedEx’s role as an economic bellwether. The world’s largest cargo airline flies goods ranging from industrial parts to electronic equipment to financial documents, making its business a proxy for domestic and overseas commerce. [/QUOTE]
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