FedEx Shares Soar as Company Beats Earnings Estimates and Unveils $2.5 Billion Buyback Plan from fedex Watch Video
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⏲ Duration: 0:39 👁 View: 420K times ✓ Published: 28-Jun-2024
Description: FedEx stock surged Wednesday after the company beat fiscal fourth-quarter earnings estimates and announced a $2.5 billion share buyback plan. The company also raised its full-year 2025 guidance, further boosting investor confidence. FedEx is evaluating its freight segment and the success of cost-cutting initiatives, which have contributed to its positive financial performance. Analysts welcomed the company's plans to assess the role of its freight unit and explore steps to enhance shareholder value. The review is expected to be completed by the end of the year, amid ongoing efficiency improvements.