FedEx reported a huge beat in second quarter earnings after a series dissappointing earnings affected severeing its Amazon contracts. $FDX was up over 8% after hours. FedEx had been wounded by a slow European economy but is benefiting from the stay at home world at cheap het fuel and diesel.
More bad news for FedEx after dissappointing earnings last week, Sunday, Amazon announced third-party sellers could not use $FDX’s Ground and Home shipping for Prime services. FedEx wounded by slow European economy and the trade war took a hit.
FedEx Corp reported worse than expected first quarter 2020 earnings after the close Tuesday. The trade war has hurt $FDX more than most with it’s large China presence seeing it lower its guidance for full-year 2020. $FDX was trading down about 9% after hours.
FedEx Corp reported better than expected earnings after the close Tuesday with largely negative expectations as the trade war has hurt $FDX more than most with it’s large China presence. Lower FedEx International Priority package and freight revenues at FedEx Express hurt.