FedEx Corp. (NYSE:FDX) stated that its estimated 2Q profit of $1.30 to $1.45 per share would be lower than Wall Street’s 2Q profit objective of $1.68 per share in a poll of experts by FactSet, as the package delivery firm witnesses “pathetic global economic conditions.”
The Memphis, Tenn. Firm now anticipates earning in a range of $6.20 and $6.60 a share for the complete fiscal year, in contrast with an earlier estimation of $6.90 to $7.40 a share.
In the initial quarter, FedEx (FDX) stated that its net income declined 1% to $459 million, while earnings a share declined to $1.45 in contrast to $1.46. Sales moved up 3% to $10.79 billion. Experts estimated first-quarter earnings of $1.40 per share and sales of $10.67 billion.
Its competitors include United Parcel Service, Inc. (NYSE:UPS) that slipped -1.08% to $73.44 with the total traded volume of 1.66 million shares.
Other Services stocks with bullish trend include Office Depot Inc (NYSE:ODP) up +0.38% to $2.61, Wal-Mart Stores, Inc. (NYSE:WMT) up +0.01% to $74.00 and CVS Caremark Corporation (NYSE:CVS) up +0.72% to $47.24, whereas with bearish trend include The Gap Inc. (NYSE:GPS) down -0.42% to $35.90, Staples, Inc. (NASDAQ:SPLS) down -0.25% to $11.94 and Lowe’s Companies, Inc.(NYSE:LOW) down -0.86% to $28.98.
FedEx Corporation (NYSE:FDX) stock reports on Sep 18, 2012 decreased -2.46% to the trading price of $87.07. Its fifty two week range is $64.07-$97.19. The total market capitalization remained $27.57 billion.
The overall volume in the current trading session is 3.45 million shares. In its share capital FDX has 314.00 million outstanding shares among them 293.37 million shares have been floated in market exchange. FDX stock institutional ownership remained 78.66% while insider ownership included 5.14%.
FDX is ahead its 52 week low with +37.46% and lagging behind from its 52 week high price with -9.53%. FDX last month stock price volatility remained 1.32%. The stock price of FDX is moving down from its 20 days moving average with -0.99% and remote negatively from 50 days moving average with -1.85%.
FDX current year earnings per share experienced an addition with +40.03% while its current quarter performance remained +1.03%. Company’s beta coefficient included 1.25. Beta factors measures the amount of market risk associated with market trade.
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