Cargo Giant Making Moves: FedEx Shares Jump On Earnings Beat

Federal Express (NYSE: FDX) shares rose 5% in Friday morning trading after the cargo airline and end-to-end logistics operator’s first-quarter fiscal results exceeded analyst expectations. The company reported adjusted earnings per share of $3.83, beating forecasts that had this figure at $3.59. The airline’s net income was an adjusted $910 million, again exceeding analyst expectations. Package volumes moved by the carrier grew around 6%, while FedEx’s freight division’s performance weakened on lower revenue figures and higher wages.