2 Stocks Reverberating Through Markets
These two stocks are driving significant activity this morning, can they carry the momentum through the day?
1) FedEx (NYSE:FDX): The global shipping and deliveries company reported earnings this morning, saying fourth-quarter profit rose to $558 million, or $1.75 a share, from $419 million, or $1.33 a share, in the year-ago period. Total revenue rose 12% to $10.55 billion. Analysts were looking for earnings of $1.73 a share, on average, with sales of $10.41 billion. Shares of FDX are up 2.85%. Don’t Miss: A Deeper Dive into the Business Drivers for FedEx This Quarter.
2) Royal Phillips Electronics (NYSE:PHG) Shares are falling at an alarming rate for Phillips this morning, down already 13.40% in premarket action. The sell-off this morning comes after a company statement, warning that profit in its lighting and consumer-lifestyle units would be far below market expectations.
FedEx was a Wall St. Cheat Sheet watch list stock: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!