7/1, 4:35 PM (Source: TeleTrader)
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Chart for: FedEx Corp

FedEx up 16% after beating Q4 expectations

Stocks of FedEx Corp. jumped over 16% on Wednesday shortly after the company posted better-than-expected financial results for the fourth fiscal quarter of 2020.

The company's results were profoundly affected by the coronavirus crisis, so drops were registered in both revenue and operating income. However, revenue slipped only 1% yearly, and net income soared 139%.

FedEx's stocks surged 16.11% to sell for $162.75 at 10:29 am ET. Despite having a free fall during the lockdown in March, the company's shared recovered losses by increasing 7.72% since the start of the year.

Breaking the News / ND