FedEx Corp. stock rallied late Tuesday after the deliveries and logistics company reported better-than-expected adjusted profit and sales in its fiscal fourth quarter, as the surge in online buying amid the coronavirus pandemic offset higher costs and thinner margins.
FedEx FDX, +4.21% reported a loss of $334 million, or $1.28 a share, in the quarter, compared with a loss of $1.97 billion, or $7.56 a share, in the year-ago quarter. Adjusted for one-time …
The post MW: FedEx stock rallies 9% as online shopping sprees boost company’s quarterly results appeared first on The Loadstar.
Source: The Loadstar