Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, September 17, 2010

Article Excerpt

FEDEX CORP., $82.28, New York symbol FDX, reported quarterly earnings than matched the consensus estimate. However, the shipping company predicted that its growth will slow in the current quarter. That caused the stock to fall 4% this week. In FedEx’s first quarter, which ended August 31, 2010, its earnings jumped 109.9%, to $380 million from a depressed $181 million a year earlier. Earnings per share rose 106.9%, to $1.20 from $0.58, on more shares outstanding. Revenue rose 18.1%, to $9.5 billion from $8.0 billion. The company continues to see strong demand for its overnight air-delivery services. Internationally, FedEx shipped 19% more packages than a year ago, mostly because of rising exports from Asia. The company shipped just 3% more packages inside the U.S. However, the weak economy continues to hurt demand for FedEx’s ground-delivery services in the U.S. Its less-than-truckload (LTL) operations shipped 29% more packages than a year ago, but only because FedEx cut its prices to stay competitive. Despite the…