Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, June 24, 2011

Article Excerpt

PLEASE NOTE: Our next Hotline will go out on Thursday, June 30, 2011. FEDEX CORP., $91.78, New York symbol FDX, delivers packages and documents in the U.S. and over 220 countries and territories. For the fiscal year ended May 31, 2011, FedEx’s revenue rose 13.2%, to $39.3 billion from $34.7 billion in 2010. The company earned $1.45 billion, or $4.57 a share, up 22.6% from $1.2 billion, or $3.76 a share. If you exclude unusual items, FedEx earned $4.90 a share in 2011. That matched the consensus estimate. The number and weight of packages grew throughout fiscal 2011, as the economy continued to recover from the recession. Results at the international air-delivery business were particularly strong, with average daily package volume up 10% and average daily weight up 25%. The company plans to increase its capital spending by 23.5% in fiscal 2012, to $4.2 billion from $3.4 billion in 2011. The company will use these funds to buy new planes and trucks, upgrade existing…

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