From Nasdaq: 2024-12-24 07:45:00

FedEx shares surged after announcing plans to spin off struggling freight business. Remaining business expected to continue growing and improve operating performance, driving cash flow and delivering robust capital returns to investors. Q2 results mixed but positive impact of DRIVE initiative shown. Revenue down nearly 1% but adjusted earnings exceeded forecasts due to cost reductions. Segment results mixed, with FedEx Express package revenue growing. Company increased revenue forecast and increased share buybacks. Analysts bullish on FedEx, with Loop Capital upgrade to Buy and significant price target increase. Price action bullish post-release, likely to trend higher with potential for volatility.



Read more at Nasdaq:: FedEx Delivers: Reveals Value-Building Plan for 2025