FedEx Corporation(NYSE:FDX) Shares Reach For All-Time High

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FedEx Corporation(NYSE:FDX) shares were trading at an all-time high before the market open after reporting fiscal Q4 earnings that exceeded analysts’ expectations while the fiscal 2015 guidance range straddled the Street’s view. 

FDX was higher 4% at $146.00 in recent pre-market trade, exceeding the previous all-time high of $144.99. The 52-week low is at $94.60. 

The provider of transportation and e-commerce services said earnings in the quarter ended May 31 rose to $730 million or $2.46 per diluted share from an adjusted $679 million or $2.13 the year earlier, exceeding the $2.36 average estimate from analysts polled by Capital IQ. Revenue rose to $11.8 billion from $11.4 billion, topping the $11.6 billion consensus estimate. 

For fiscal 2015, FedEx said it expects earnings of $8.50 to $9.00 per share compared to the $8.80 average estimate. 

“With continued modest economic improvement, our results in fiscal 2015 should benefit from base performance improvement and ongoing execution of our profit improvement initiatives at FedEx Express, continued profitable growth at FedEx Ground and FedEx Freight, and our share repurchase program,” CFO Alan Graf said in a statement.

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