Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, February 18, 2011

Article Excerpt

FEDEX CORP., $98.32, New York symbol FDX, warned that severe winter weather and rising fuel costs are hurting its earnings. In its 2011 third quarter, which ends February 28, 2011, FedEx expects to earn $0.70 to $0.90 a share before unusual items. That’s down from its earlier earnings forecast of $0.95 to $1.15 a share. FedEx earned $0.76 a share in the year-earlier quarter. Even so, the company continues to see rising demand for its package-delivery services as the global economy recovers. FedEx is still a buy. CHEVRON CORP., $98.72, New York symbol CVX, bought rival oil company Texaco in 2001. As a result, Chevron is now fighting a class-action lawsuit in Ecuador that accuses Texaco of failing to clean up oil wells that it drilled as part of a partnership with Ecuador’s state-owned oil company. This week, an Ecuadorian court ordered Chevron to pay $8.6 billion. That’s equal to 4% of the company’s $198.5-billion market cap. The company will appeal the ruling, and…