Shares of FedEx Corporation (NYSE: FDX) soared in
trading today after the Memphis, Tennessee-based company announced its
second-quarter financial results. FedEx reported second-quarter revenue of
$10.59 billion, up 10% over the same period in the previous year. The company’s
net income for the quarter rose 76% to $497 million.
FedEx shares rose to an intra-day high of $83.81.
The stock ended the day 8% higher on above average volume. The rally has pushed
FedEx shares above their 50-day moving average.
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