Economics
FedEx Risses as Buyback-Aided Profit Tops Estimates
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FedEx Corp. rose the most in three months after first-quarter earnings beat analysts’ estimates as the company carried more packages, cut pension expense and benefited from completion of a record stock buyback.
FedEx also reaffirmed its fiscal 2015 earnings forecast of $8.50 to $9 a share today, citing increases in U.S. industrial production this year and global economic growth in 2015 matching its previous expectation. Holiday-season hiring will be 50,000 jobs, FedEx said, compared with 40,000 in 2013.