FedEx (FDX.US) posted quarterly profit of $4.83 per share, well above analysts expectations of $4.01 per share. Company reported better-than-expected revenue of $20.6 billion as the pandemic continues to bolster package deliveries. However, the delivery company failed to provide guidance for next year citing Covid-inspired uncertainty. “While the overall environment remains uncertain, we expect earnings growth in the second half of fiscal 2021 driven by the anticipated heightened demand for our services as we continue to execute on our strategic priorities,” Chief Financial Officer Michael Lenz said in the earnings release.
FedEx (FDX.US) stock launched today's session with a bearish price gap and is currently testing support at $279.60 which coincides with 50 SMA (green line). If the current sentiment prevails, the downward move could be extended to the $258,00 pts level. On the other hand, if buyers will manage to halt declines here, then another upward impulse towards $304.90 could be launched. Source: xStation5
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