- FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
The company is also mulling whether to keep or sell its FedEx Freight trucking business that generated revenue of $2.3 billion in the latest quarter. As a result, the company's quarterly operating margin improved in the latest reported quarter to 8.5% from 8.1% a year earlier.
Source: News Formal (newsformal.com)
Freight Business David Vernon Freight Demand Delivery Giant
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