Fedex Stock Upgraded
On December - 8 - 2009
FedEx Corp. shares rose in pre-market trades Tuesday after the delivery giant raised its outlook for second-quarter earnings on increased demand for its international services as well as its cost-cutting efforts.
FedEx (FDX 89.59, +2.07, +2.37%) boosted its profit target to $1.10 a share from its previous estimate of 65 cents to 95 cents a share. The Memphis, Tenn.-based company earned $1.58 a share in the same quarter a year ago.
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