Their latest acquisitions continue to pay off

Article Excerpt

Each of these two firms recently completed a big acquisition. So far, those new businesses fit nicely with their existing operations and have expanded their overall profit. FEDEX CORP. $163 (New York symbol FDX; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 263.5 million; Market cap: $43.0 billion; Price-to-sales ratio: 0.6; Dividend yield: 1.4%; TSINetwork Rating: Average; www.fedex.com) delivers packages and documents in the U.S. and 220 other countries. On May 25, 2016, the company completed its $4.9 billion acquisition of European courier TNT Express. Revenue for the fiscal 2019 second quarter, ended November 30, 2018, rose 9.3%, to $17.8 billion from $16.3 billion a year earlier. Earnings jumped 24.1%, to $1.08 billion from $866 million on that increase—plus cost cutting. Due to fewer shares outstanding, per-share earnings rose 26.7%, to $4.03 from $3.18. Those gains exclude costs to integrate TNT and the impact of changes to the U.S. tax code. The integration of TNT is taking longer than FedEx expected. As a result, the company now expects…

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