The first on the list is FedEx Corporation (NYSE:FDX), whose shares have opened nearly 4% higher on the back of the company posting its financial results for the second quarter of its fiscal 2016. For the quarter ended November 30, FedEx reported revenue of $12.5 billion, up by 4.7% year-on-year, while its earnings advanced by an annual 20.6% to $2.58 per share. Moreover, both exceeded the analysts’ EPS and revenue estimates by $0.07 and $50 million, respectively. However, the company has registered declines in two segments. The Express segment revenue plummeted by 6% on the year to $6.59 billion, while the freight segment revenue fell by 2% to $1.55 billion in the trimester. Nonetheless, the ground segment revenue surged by 32% to $4.05 billion. For fiscal 2016, the company forecasts EPS in the range of $10.40 to $10.90 in range with the Street’s expectations of $10.52.
Traded outside my bounds initially, but then back inside. Can’t close the trade just yet, might have to wait until tomorrow.
Obviously a strong market is another factor [risk] to take into account.