CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FedEx surges despite mixed quarterly results

18:39 21 December 2022

FedEx (FDX.US) stock rose over 4.0% on Wednesday despite mixed quarterly figures. Company which is considered as one of the economy bellwethers plans to improve profitability and greatly reduce costs.

  • Company earned $3.18 per share, which topped market expectations of $2.81 per share.

  • Revenue plunged by 4% year-over-year to $22.8 billion, below analysts’ projections of $23.74 billion.

FedEx key quarterly figures. Source: Alpha Street

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  • Investors welcomed another round of  “aggressive” cost-cutting measures which includes parking planes, closing offices, stopping rural Sunday delivery, and layoffs in freight division. Company raised package-delivery rates and expects to cut another $1 billion beyond what it forecast in September.

  • “Our teams have an unwavering focus on rapidly implementing cost savings to improve profitability,” CFO Mike Lenz said in an earnings release. “As we look to the second half of our fiscal year, we are accelerating our progress on cost actions, helping to offset continued global volume softness.”

  • The company also said it sees financial year 2023 earnings of $13.00 to $14.00 per share, slightly below analysts’ estimates of $14.08 per share.

FedEx has a price target of $195.00 based on 20 analysts ratings, which implies over 13.00% upside potential. Source: Tipranks

FedEx (FDX.US) stock launched today's session with a bullish price gap, however buyers are unable to reach major resistance at $176.20, which coincides with 61.8% Fibonacci retracement of the upward wave launched in March 2020. If sellers manage to regain control, the lower limit of the local ascending channel may act as nearest support. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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