FedEx earnings

Amazon Inks $600 Million Deal with CIA for Cloud Computing

Amazon has reportedly won a $600 million dollar, 10-year contract to supply cloud computing services to the CIA. The online retailer will help the spy agency build a private cloud infrastructure to keep up with emerging technologies.

FedEx Shares Get a Boost After Strong Forecast

Viewed as an economic bellwether, shipping company Federal Express said its profit fell 3% in the third quarter due to higher fuel prices. But its shares rose more than 5% after the company said pricing gains in the fourth quarter will likely mean that it will beat most Wall Street expectations.

FedEx Earnings Miss Wall Street Estimates, Raises Outlook

Shipping company FedEx (FDX), often seen as a bellwether of the economy, reported Wednesday that net income in its fiscal 2011 second-quarter declined 18% from a year ago period, even as revenue climbed 12%. Both income and revenue missed Wall Street estimates. The company, however, raised it fiscal 2011 outlook as holiday volumes exceed expectations.

Coming This Week: FedEx, Best Buy and Oracle

Last week, the Fed's Beige Book report confirmed that the economy continues to grow, but at a slower pace than in previous periods. This week will bring other economic data to either support or contrast with the Fed's findings.

FedEx Delivers on Earnings, but Shares Fall

FedEx (FDX) earnings beat Wall Street's expectations by a penny a share as the world's second largest shipping company after UPS (UPS) enjoyed brisker business on the back of global economic recovery, but a tepid outlook hurt the stock. Market watchers key in on FedEx and UPS earnings because their worldwide shipping networks make them especially attuned to global demand.