FedEx shares up 3.7% on forecast
From Times Staff and Wire Reports
FedEx Corp. said first-quarter profit would exceed the company’s forecast as fuel spending fell.
Earnings will be $1.23 a share for the period that ended Aug. 31, eclipsing the outlook of 80 cents to $1, FedEx said. The announcement reaffirmed a full-year profit forecast of $4.75 to $5.25 a share. Shares of Memphis, Tenn.-based FedEx rose $3.11, or 3.7%, to $87.86.
