FedEx shares jump after fourth-quarter forecast

FedEx Corp. gave a robust fourth-quarter profit outlook Thursday that was bolstered by higher base prices, greater fuel surcharges and an increase in shipping volumes across all its businesses.

“The dynamics of global trade appear solid, although the impact of volatile fuel prices and other global events remains uncertain,” said Chairman and Chief Executive Fred Smith, on a call with analysts.

Shares of FedEx /quotes/comstock/13*!fdx/quotes/nls/fdx (FDX 89.23, +3.95, +4.63%) climbed 5% to $89.53 at last check. The stock is trading flat for the year, but has declined about 4% in the past three months as oil prices topped $100 a barrel.

FedEx is seeing strong margin improvement in its ground operations and improving margins at express and freight, said Standard & Poor’s Equity Research analyst Jim Corridore.

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- Posted: 2011-03-17 10:57:07

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