- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices Trading
- Share CFDs Trading
- Cryptocurrency CFDs
- Treasury CFDs
- ETF CFDs Trading
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile Trading Platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & Analysis
- Education Hub
- Economic Calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets.
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices Trading
- Share CFDs Trading
- Cryptocurrency CFDs
- Treasury CFDs
- ETF CFDs Trading
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile Trading Platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & Analysis
- Education Hub
- Economic Calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets.
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Shares and Indices
- FedEx falls short – the stock is down
- Founded: May 5, 1971
- Headquarters: Memphis, Tennessee, United States
- Number of employees: 520,000 (2023)
- Industry: E-commerce, services, transportation
- Key people: Frederick W. Smith (Executive Chairman), Raj Subramaniam (President and CEO)
- 1 month: +9.43%
- 3 months: +12%
- Year-to-date: +61.66%
- 1 year: +70.37%
- TD Cowen: $293
- Stifel Nicolaus: $285
- Susquehanna: $315
- HSBC: $330
- Loop Capital: $275
- BMO Capital Markets: $290
- Deutsche Bank: $295
- Citigroup: $300
- Wells Fargo: $280
- Bank of America: $330
- UBS Group: $323
- Morgan Stanley: $205
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisThe World’s second largest courier company, FedEx Corporation (NYSE: FDX), released its latest financial results for second quarter of fiscal year 2024 after the market closed in the US on Tuesday.
The US company fell short of estimates for both revenue and earnings per share (EPS) for the quarter.
Revenue reached $22.2 billion vs. $22.356 billion expected. Revenue was down by 2.6% vs. the same period a year prior.
EPS reported at $3.99 per share (up by 25.47% year-over-year) vs. $4.194 per share estimate.
Company overview
CEO commentary
‘FedEx has delivered an unprecedented two consecutive quarters of operating income growth and margin expansion even with lower revenue, clear evidence of the progress we are making on our transformation as we navigate an uncertain demand environment,” Raj Subramaniam, CEO of FedEx, said in a press release.
‘We are moving with speed to make our network more efficient while delivering outstanding service to our customers through the peak season with the fastest Ground network in the industry. I am confident in our strategy as we make our global network more flexible, efficient, and intelligent,’ Subramaniam concluded.
Stock reaction
Shares were down by 0.68% at the end of trading on Tuesday at $280 a share.
The stock price plummeted by around 7% in the after-hours trading as results were announced.
Stock performance
FedEx stock price targets
FedEx Corporation is the 231st largest company in the world with a market cap of $70.39 billion.
You can trade FedEx Corporation (NYSE: FDX) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD.
GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time.
Why trade during extended hours?
Sources: FedEx Corporation, TradingView, MarketWatch, Benzinga, CompaniesMarketCap
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
General Mills posts mixed results
US food company, General Mills Inc. (NYSE: GIS), reported its latest financial results for second quarter of fiscal 2024 before the US open on Wednesday. Revenue reached $5.139 billion for the quarter, falling short of analyst estimate of $5.354 billion. Revenue was down by 2% year-over-year. Earnings per share (EPS) reported at $1.25 per sha...
December 21, 2023Read More >Previous Article
Accenture results revealed
Irish-American professional services company, Accenture plc (NYSE: ACN), announced Q1 FY24 financial results before the opening bell in the US on Tues...
December 20, 2023Read More >