FedEx Corporation (FDX)

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FedEx Corporation, together with its subsidiaries, provides transportation, e-commerce, and business services. It operates in four segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Kinko's. The FedEx Express segment offers various shipping services for the delivery of packages and freight. This segment also provides international trade services specializing in customs brokerage and global cargo distribution; international trade advisory services; and publishes customs duty and tax information, as well as provides Global Trade Data, an information tool that allows customers to track and manage imports. The FedEx Ground segment provides business and residential money-back-guaranteed ground package delivery services. The FedEx Freight segment offers regional next-day and second-day, and interregional less-than-truckload (LTL) freight services, as well as long-haul LTL freight services. The FedEx Kinko's segment provides document services, such as printing, copying, and binding services; and business services, such as high-speed Internet access and computer rental, videoconferencing, signs and graphics production, and direct mail services. This segment also offers retail products, such as specialty papers, greeting cards, printer cartridges, stationery, and office supplies, as well as provides Web-based services. The company also offers supply chain solutions, including critical inventory logistics, transportation management, fulfillment, and fleet services. FedEx Corporation, formerly known as FDX Corporation, was founded in 1971 and is headquartered in Memphis, Tennessee
FDX has been showing support around $82.05 and resistance in the $93.95 range. The buy rating is set to 7 today with the $112.6 target price by 9trading.
(http://www.9trading.com/index.php?symbol=fdx)

[HenryTo]

FexEx meets estimates and predicts higher-than-consensus earnings for the next quarter. Full-year estimates remain the same, however.
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FedEx fiscal 1Q profit falls, meets views By SAMANTHA BOMKAMP, AP Business Writer
1 minute ago

NEW YORK - FedEx Corp. said Thursday its fiscal first-quarter earnings fell 22 percent, but still met Wall Street's expectations, as cost cuts partially offset the impact of slowing global growth.

The package delivery company also predicted it will beat analysts' current expectations for its fiscal second quarter, and said it will hike shipping rates at its Express unit starting early next year.

Memphis, Tenn.-based FedEx earned $384 million, or $1.23 per share, in the three months ended Aug. 31, compared with $494 million, or $1.58 per share, a year earlier.

Revenue rose 8 percent to $9.97 billion from $9.20 billion a year ago.

A Thomson Reuters poll showed analysts, on average, were expecting profit of $1.23 per share on revenue of $9.92 billion.

"Global economic conditions are challenging, but FedEx is taking strong, proactive actions to manage through this difficult cycle," said Frederick W. Smith, FedEx chairman, president and chief executive.

FedEx said cost-cutting efforts were countered by global economic weakness and still-high fuel prices. The company also said its higher fuel surcharges are dampening demand. Although the price of jet fuel slipped toward the end of the quarter, FedEx still paid an average of 77 percent more year-over-year.

Growth in its ground and international-domestic express units and from a postal service deal was "substantially offset by a continued decline in U.S. domestic express shipments," FedEx said.

For the second quarter, FedEx expects to earn $1.40 to $1.60 per share, well above Wall Street's average forecast of $1.35 per share for the period. The company earned $1.54 in the year-ago second quarter.

For the full year, the company maintained its profit forecast of $4.75 to $5.25 per share, citing slowing global growth. Analysts, on average, currently expect $5.18 per share. FedEx said the predictions incorporate current fuel prices.

FedEx's Express unit will raise rates by an average of 6.9 percent for U.S. and U.S. export services, beginning on Jan. 5. The company said the rate hike will be partially offset by a slightly lower fuel surcharge.