FedEx Delivers Better Than Expected Profits – Traders Ready To Pack In Long Positions
FedEx Corp. reported better-than-anticipated earnings for the quarter ended August after the closing bell yesterday. The shipping and logistics company’s operational results for the first quarter of fiscal year 2017 topped expectations even though its acquisition of TNT Express NV cost the company nearly $5 billion in May.
FedEx reported $14.7 billion in sales and $715 million earnings or $2.65 a share in the quarter, after deducting 25 cents per share for all the costs associated with TNT.
The package-delivery giant lowered its yearly guidance for the fiscal year ending in May 2017 to a range from $10.85 to $11.35 a share, down from the previous forecast of $11.75 to $12.25, referring the acquisition with TNT and the sluggish global economy as reasons for the adjustment.
Buy Stop at 168.00, Take profit at 169.50, stop loss at 166.50