FedEx Surges After Quarterly Profit Forecast Beats Estimates
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FedEx Corp., operator of the world’s biggest cargo airline, climbed the most in five weeks after predicting higher profit this quarter than analysts estimated amid the global economic recovery.
The stock jumped 3.1 percent after FedEx said per-share earnings for the fiscal fourth quarter ending May 31 will be $1.66 to $1.83 a share. Analysts had projected $1.66, the average of 22 estimates in a Bloomberg survey.