FedEx raised its forecast for first quarter and the year
July 26, 2010
FedEx raised its earnings forecast for the current quarter and the full year, citing higher than expected growth in volumes from its two main divisions, Express and Ground.
The U.S. company now expects annual earnings per share from 4.60 to 5.20 dollars, against 4.40 to 5.00 dollars allocated so far.
For the first quarter of fiscal 2011, which ends Aug. 31, FedEx expects earnings per share $ 1.05 $ 1.25 against 85 cents to $ 1.05 previously.
The action FedEx earned more than 5% to $ 83 in early trading on the NYSE while the Dow Jones has risen by 0.1%. In its wake, its major competitor UPS has risen by 1.27% to 64.48 dollars.
Sorry, comments for this entry are closed at this time.