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Tag: FDX

  • FedEx Corp. (FDX) Rockets Over 15% in Premarket with Positive Updates

    FedEx Corporation (NYSE: FDX) navigated a sluggish trajectory during regular trading hours on Thursday, modestly ascending by a mere 1.87% from its previous closing at $259.55 to $256. However, the landscape dramatically shifted in the early premarket hours, as eager investors propelled the stock skyward by an astounding 35%, breaching the coveted $300 threshold.

    FedEx Corp. stands as a titan in the corporate realm, specializing in a comprehensive array of services spanning transportation, e-commerce facilitation, and bespoke business solutions. Its operational architecture encompasses distinct segments, including FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other, and Eliminations.

    Earnings Report Highlights

    In a late Thursday revelation, FedEx Corporation disclosed adjusted earnings of $3.86 per diluted share for the fiscal 2024 third quarter, eclipsing analyst prognostications of $3.45 per share. This stellar performance ignited a fervent surge in after-hours trading, showcasing investor confidence in the company’s fiscal prowess.

    Segmental Performance

    Despite prevailing macroeconomic headwinds, FedEx Express, the aerial and international arm, showcased resilience with bolstered operating results, attributed to strategic efficiency enhancements and judicious cost containment measures. Parallelly, FedEx Ground reported amplified operating results buoyed by diminished structural overheads and enhanced revenue yields. Conversely, FedEx Freight grappled with subdued performance due to diminished fuel surcharges and a contraction in shipment volume.

    Guidance and Strategic Imperatives

    In a testament to its sanguine outlook, FedEx revised its full-year fiscal 2024 guidance, elevating the upper and lower echelons of its earnings projection to a range of $17.25 to $18.25 per share. This recalibration underscores the company’s unwavering commitment to realizing substantial cost savings of $1.8 billion through its transformative DRIVE program.

    Share Repurchase Endeavor

    A pivotal catalyst propelling the stock’s meteoric ascent was the announcement of a formidable $5 billion share repurchase program, duly authorized by the esteemed board of FedEx. This strategic maneuver, complemented by extant authorization, underscores the organization’s fervent dedication to augmenting shareholder value and fortifying its financial standing.

    Conclusion

    In summation, FedEx Corporation’s resounding after-hours surge serves as a testament to its indomitable resilience, underscored by an exceptional earnings report and strategic initiatives poised to propel the company towards sustained growth and prosperity.

  • The 3 Top Transportation Stocks to Watch For in 2021

    The 3 Top Transportation Stocks to Watch For in 2021

    The transportation seems much better this year and things are recovering gradually.

    The transportation industry has mostly suffered during the course of the global pandemic. However, things eased off a bit by the late last year. Surprisingly, some companies from the transportation sector have seen massive growth since the pandemic hit. For instance, logistics companies have made huge bucks due to the rise in online orders.

    So, transportation stocks hold a strong potential to pump with things getting normal in the coming time. Let’s have a look at the three top transportation stocks to watch for this year.

    FedEx (FDX)

    The logistics giant, FedEx (FDX) shares have recently been trading high. The analysts have mixed opinions on the multinational delivery services firm, but they are mostly bullish and rate the stock a buy of around $250. As we write this, FDX trades around $274.18. So, investors must keep an eye on the stock and go for buy on low.

    FedEx reported Fiscal year third-quarter results that topped consensus estimates and reinstated guidance for the first time since the onset of the pandemic. Moreover, the balance sheet is also strong.

    As of Dec. 2020, 63 hedge funds’ portfolios were holding the stock. While FDX’s all-time high is 71. The investors have seen a decline in hedge fund interest in the stock of FedEx. But in the middle of everything, there lies an opportunity to make profits. So, keep watching FDX.

    Union Pacific (UNP)

    Union Pacific (UNP) is a railroad stock that is quite attractive for dividend-based investors. UNP has an extensive network of tracks in the western two-thirds of the U.S. The company ships everything including coal, chemicals, crops, and cars, among others.

    Union Pacific has good earnings prospects. The company is working on its expansion project which is set to open new ways in the future. TV host Jim Cramer has highlighted high-quality cyclical to buy on weakness. He mentioned UNP is among them and called the transporter “a one-stop-shop for the great reopening.” He added:

    “If you knew the score, you could confidently buy [Union Pacific] into weakness because this market loves the reopening plays. I bet it’s got a lot more room to run.”

    Kirby Corp. (KEX)

    Kirby Corporation (KEX) is the largest tank barge operator in the United States, transporting bulk liquid products across the country and certain other regions including the West, East, and Gulf Coasts along with Alaska and Hawaii to deliver bulk liquids to customers.

    Kirby’s Marines have been under the red zone and saw weak utilization during the fourth quarter of 2020. This is expected to improve gradually in the first quarter or maybe the second quarter and emerge as a strong business segment for the company later this year.

    Things are anticipated to get better in the next two years or so and Kirby will be set on the path to pre-pandemic levels. Especially, the increase in chemical production capacity during the pandemic will help the company recover swiftly. So, Kirby (KEX) is one stock to keep under your radar.

  • Pre-Market Cues: 28 Stocks Roaring for Change On December 18th

    Pre-Market Cues: 28 Stocks Roaring for Change On December 18th

    Seneca Biopharma Inc. (SNCA), a Biotechnology company, rose about 0.2% at $0.96 in pre-market trading Friday after declaring merger agreement with Leading BioSciences, Inc. under which a wholly owned subsidiary of Seneca will merge with LBS in an all-stock transaction.

    Palantir Technologies Inc. (PLTR) lost over -3.97% at $26.15 in pre-market trading Friday December 18, 2020 after reporting that it will hold its inaugural “Live Demo Day” on Tuesday, January 26, 2021 at 4:30pm ET.

    Atossa Therapeutics Inc. (ATOS) stock plunged -0.02% to $0.86 in the pre-market trading following its declaration of pricing of $14.0 million registered direct offering priced at-the-market. The most recent rating by Maxim Group, on January 26, 2018, is a Buy.

    Virgin Galactic Holdings Inc. (NYSE: SPCE) shares are trading down -6.27% at $23.9 at the time of writing. The company recently revealed an update following its test flight on December 12, 2020. Company’s 52-week ranged between $9.06 to $42.49. Analysts have a consensus price target of $19.

    BlackBerry Limited (BB), a Software – Infrastructure company, dropped about -4.36% at $7.9 in pre-market trading Friday after releasing its financial results for the three months ended November 30, 2020

    Before the trading started on December 18, 2020, Uxin Limited (UXIN) is up 4.5% to reach $1.16 following its announcement of unaudited financial results for the quarter ended September 30, 2020. It has been trading in a 52-week range of $0.72 to $3.07.

    Coeur Mining Inc. (CDE) stock plunged -2.98% to $10.76 in the pre-market trading. The firm recently revealed details of the expansion of its Rochester silver-gold mine in Nevada, reflecting significant reserve growth and the benefits of a larger-scale expansion project. The most recent rating by Noble Capital Markets, on September 14, 2020, is an Outperform.

    Novan Inc. (NASDAQ: NOVN) shares are trading up 6.25% at $0.68 at the time of writing. The company lately reported that it has enrolled 525 patients of the approximately 850 patients expected to enroll in the B-SIMPLE4 pivotal Phase 3 clinical study of SB206. Company’s 52-week ranged between $0.22 to $3.72.

    CNS Pharmaceuticals Inc. (CNSP), a Biotechnology company, rose about 15.2% at $2.88 in pre-market trading Friday after announcing FDA approval of IND application for its brain cancer drug candidate Berubicin.

    United States Steel Corporation (X) stock moved down -4.26 percent to $17.77 in the pre-market trading after reporting that fourth quarter 2020 adjusted EBITDA is expected to be approximately $55 million and expected fourth quarter 2020 adjusted diluted loss per share to be approximately ($0.85).

    BioCardia Inc. (BCDA) lost over -6.09% at $4.01 in pre-market trading Friday December 18, 2020 following an announcement from the firm that the independent Data Safety Monitoring Board (DSMB) has completed its prespecified data review for the Phase III pivotal CardiAMP Heart Failure Trial.

    Before the trading started on December 18, 2020, Ampio Pharmaceuticals Inc. (AMPE) is up 8.43% to reach $1.93 after revealing the completion of its Phase I clinical trial and initiation of the first steps for a global Phase II clinical trial for intravenous (“IV”) Ampion treatment in COVID-19 patients. It has been trading in a 52-week range of $0.31 to $1.69.

    Drive Shack Inc. (NYSE: DS) shares are trading up 5.47% at $3.47 at the time of writing following the opening of its 65,000-square-foot entertainment golf venue located in Orlando. Company’s 52-week ranged between $0.86 to $4.19. Analysts have a consensus price target of $4.

    IZEA Worldwide Inc. (IZEA) tumbled over -3.7% at $1.04 in pre-market trading today. The company recently reported that it has just been awarded a mid-six figure contract from a Fortune 500 Manufacturer.

    Exela Technologies Inc. (XELA), a Software – Application company, rose about 81.87% at $0.66 in pre-market trading Friday after declaring that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm.

    FedEx Corporation (FDX) stock moved down -2.89 percent to $283.8 in the pre-market trading after declaring strong results for the quarter ended November 30.

    Guardion Health Sciences Inc. (GHSI) stock plunged -2.13% to $0.23 in the pre-market trading. The firm recently declared progress on the introduction of its new vision support/energy drink, Epiq-V, which is under development for the United States and international markets.

    Amyris Inc. (NASDAQ: AMRS) shares are trading up 3.68% at $4.23 at the time of writing. Company’s 52-week ranged between $1.40 to $6.07. Analysts have a consensus price target of $3.35.

    Mereo BioPharma Group plc (MREO), a Biotechnology company, rose about 40.27% at $3.1 in pre-market trading Friday following the declaration of a license and collaboration agreement with Ultragenyx Pharmaceutical Inc. (RARE), for setrusumab, a monoclonal antibody in clinical development for osteogenesis imperfecta (OI).

    Surface Oncology Inc. (SURF) gained over 17.51% at $10.0 in pre-market trading Friday December 18, 2020 after revealing exclusive license agreement with GSK for novel immunotherapy program.

    Neovasc Inc. (NVCN) is down more than -8.52% at $0.91 in pre-market hours Friday December 18, 2020 after reporting the publication of peer-reviewed article in EuroIntervention. The stock had jumped over 3.61% to $0.99 in the last trading session.

    BioLineRx Ltd. (BLRX) tumbled over -1.1% at $2.7 in pre-market trading today. The firm lately declared final results from Phase 2a COMBAT/KEYNOTE-202 triple combination study of Motixafortide in second line Metastatic Pancreatic Cancer (PDAC).

    VYNE Therapeutics Inc. (VYNE), a Biotechnology company, rose about 8.05% at $1.88 in pre-market trading Friday after declaring the successful completion of its End-of-Phase 2 Meeting with the U.S. Food and Drug Administration (FDA).

    Before the trading started on December 18, 2020, Mesoblast Limited (MESO) is down -26.75% to reach $9.94 after announcing an update on COVID-19 ARDS trial. It has been trading in a 52-week range of $3.12 to $21.28.

    Applied DNA Sciences Inc. (APDN) stock plunged -12.02% to $5.49 in the pre-market trading after reporting consolidated financial results for the full fiscal year and quarter ended September 30, 2020. The most recent rating by H.C. Wainwright, on July 20, 2020, is a Buy.

    Conformis Inc. (NASDAQ: CFMS) shares are trading up 3.8% at $0.6693 at the time of writing. The firm lately revealed the U.S. commercial launch of the Company’s new Cordera™ Match Hip System. Company’s 52-week ranged between $0.50 to $1.66.

    Auris Medical Holding Ltd. (EARS) grew over 1.5% at $2.7 in pre-market trading today. The company recently provided a business update related to the Company’s funding position, its AM-301 program for the protection against airborne pathogens and allergens and the ongoing strategy review process.

    Sonoma Pharmaceuticals Inc. (SNOA) stock moved up 19.79 percent to $9.14 in the pre-market trading following the announcement of partnership with Gabriel Science, LLC for dental.

  • Should You Be Holding FedEx (NYSE: FDX) Right Now?

    Should You Be Holding FedEx (NYSE: FDX) Right Now?

    FedEx Corporation (NYSE: FDX), a multinational delivery services company has traded up 0.14% after reporting the strong first-quarter results. The delivery services company has reported £14.97 billion of revenue and gains £3.78 per share in the first quarter. The company has also announced its plan to help in the distribution of coronavirus vaccine treatment to hospitals and governments around the globe.

    FedEx Corporation has revealed that it is planning to introduce FedEx SenseAware ID, a security-enhanced tracking sensor which the company is planning to use in the distribution of coronavirus vaccine. The delivery services company aimed to connect the world during the period of need. Its main priority is the safety of customers and it has worked continuously to keep the world’s industrial, healthcare, and at-home supply chains flowing amid the pandemic.

    If we look at its Q1 result, FedEx Corporation has reported the net income of  $1.25 billion and $4.72 a share as compared to the $2.84 a share in the earlier year quarter. Its adjusted income climbed to $1.28 billion or $4.87 a share. Looking at its revenue, it has recorded the Q1 revenue of $19.3 billion was 14% up from $17 billion a year earlier.  The company said that its earnings growth has emphasized the importance of its business initiatives and investment over the last several years.

    FedEx Corporation (NYSE: FDX) shares were trading up 0.14% at $236.67 at the time of writing on Wednesday. Its share price went from a low point around $88.69 to briefly over $241.00 in the past 52 weeks, though shares have since pulled back to $236.67. It has moved up 166.85% from its 52-weeks low and moved down -1.80% from its 52-weeks high. FedEx Corporation’s market cap has remained high, hitting $59.78 at the time of writing.

    FedEx CEO said that the “Operating results increased due to volume growth in FedEx International Priority and U.S. domestic residential package services, yield improvement at FedEx Ground and FedEx Freight, and one additional operating weekday.”

    2020 is the year of challenges for many companies but FedEx has seen positive growth in its earning because people preferred to stay at a home amid pandemic. This pandemic environment is advantageous for FedEx as customers were turning towards online shopping. But now customers are going out and do shopping as well by visiting the stores physically. But still, FedEx has an advantageous environment right now.

    The delivery service company has spent $565 million on fuel across the company during the quarter as compared to 35% less than a year earlier. FedEx did not give an earnings forecast for fiscal 2021 because of the prevailing pandemic which caused uncertainty in the market. But the company said it anticipates annual capital spending of $5.1 billion.