FedEx, the world's leading package-delivery service and an ostensible bellwether of the U.S. economy, will report its latest earnings this week. Also, with the holiday shopping season well underway, Best Buy and Discover Financial Services are also reporting quarterly results.
The package delivery easily beat Wall Street estimates on higher revenue and margins. And investors will be paying close attention to the details since UPS's global footprint can offer insights into the health of the world economy.
United Parcel Service, the world's largest package delivery company, is expected to report sharply higher third-quarter profit on strong revenue growth when it reports before Thursday's opening bell.
The world's largest package delivery company's earnings rose sharply in the second quarter, easily beating expectations. Like rival FedEx, UPS is considered to be an economic bellwether.
FedEx (FDX), the world's second largest shipping company reported earnings Wednesday of $1.33 per diluted share for the fourth quarter ended May 31, narrowly beating estimates.
Looking for clues about global growth? Keep an eye on FedEx, which reports quarterly earnings early Wednesday. The world's second-largest package deliverer after UPS, FedEx is a barometer of global demand, and especially of business in China.
UPS, the world's biggest shipping company, said fourth-quarter net income nearly tripled from a year ago, as brisk holiday business and lower costs more than offset a decline in revenue. The company also affirmed its 2010 outlook.
Delta and Continental are raising the fees they charge customers to check baggage to $25 for the first bag. The move underscores how the industry is trying to squeeze every nickle from the flying public. The winners in this trend? Package-delivery companies.
FedEx updated its guidance for 2Q earnings, raising its profit estimates by 10 cents per share. Is this a sign that the recession is over -- and by over I mean really over, as in done?