fedex revenue

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.