FedEx Corporation - FDX STOCK NEWS

ShopRunner, a subsidiary of FedEx, has launched a new mobile app aimed at simplifying the online shopping experience. The app addresses common frustrations faced by consumers, such as complex return policies and tracking challenges, offering a streamlined process from discovery to tracking. With features like free two-day shipping and member-exclusive discounts, ShopRunner enhances customer engagement. The brand also introduces a 'Shop Boldly' campaign, highlighting its commitment to empowering consumers in their shopping journey.

FedEx Corp. (NYSE: FDX) released its 2022 economic impact report, revealing its role in supporting global economies post-pandemic. The company engaged with 360,000 suppliers, creating 16.5 million jobs and generating a combined annual revenue of $700 billion. FedEx invested $6.8 billion in improvements, correlating with economic growth. In the U.S., it contributed to 12% of the transportation sector's output, supporting $8.5 billion in indirect economic growth. Additionally, FedEx donated over $86 million to charities in FY 2022.

FedEx Corp. (NYSE: FDX) is geared up for the upcoming holiday season, enhancing reliability, visibility, and convenience for customers. The company introduces new services like Picture Proof of Delivery and continues seven-day operations, reaching nearly 80% of the U.S. population on Sundays. FedEx Ground boasts improved transit times, and on-time service has returned to pre-pandemic standards. Over 700,000 team members are ready to ensure a smooth holiday experience, with increased automation in sortation. The company aims for carbon-neutral operations by 2040, further supporting sustainability initiatives.

Labaton Sucharow is investigating FedEx (NYSE:FDX) for potential violations of federal securities laws after the company announced it would likely miss its fiscal first-quarter profit target.

On September 15, 2022, FedEx revealed a decline in its global package delivery business, leading to the closure of storefronts and corporate offices. Consequently, FedEx's stock plummeted over 20% in after-hours trading, raising concerns about further weakening business conditions.

FedEx Corp. (NYSE: FDX) has entered into an accelerated share repurchase agreement with Morgan Stanley, committing to repurchase $1.5 billion of its common stock. This transaction involves an initial delivery of approximately 7.9 million shares, with final shares to be determined during the ASR period based on market prices. The buyback is expected to be completed before the end of FedEx's current fiscal year, enhancing shareholder value through reduced share circulation.

FedEx Corp. (FDX) reported fiscal Q1 2023 results, with revenue of $23.2 billion, a 5.3% operating margin, and a net income of $875 million, leading to a diluted EPS of $3.33. The company announced a $2.2-2.7 billion cost savings initiative for fiscal 2023, amid declining global volumes, particularly a 69% drop in FedEx Express operating income due to an 11% reduction in package volume. Looking ahead, FedEx forecasts Q2 2023 revenue between $23.5-$24.0 billion and EPS of $2.65 or more.

Labaton Sucharow is investigating FedEx (NYSE: FDX) for potential federal securities law violations. Following a disappointing preliminary financial report on September 15, 2022, FedEx announced the closure of storefronts and corporate offices, and a hiring freeze due to a significant decline in global package delivery volumes. The company anticipates missing Wall Street's profit expectations for Q1 and expects worsening business conditions, leading to a 20% stock drop in after-hours trading.

FedEx Corp. reported preliminary results for Q1 FY2023, indicating revenues of $23.2 billion, a rise from $22.0 billion in Q1 FY2022. Operating income fell to $1.19 billion from $1.40 billion. The diluted EPS decreased to $3.33 from $4.09. The company experienced a revenue shortfall of approximately $800 million due to global volume declines, particularly in the FedEx Express segment. In light of these results, FedEx withdrew its FY2023 earnings forecast, anticipating weaker business conditions. Cost-cutting measures are underway, including personnel and operational reductions.

FedEx Corp. (NYSE:FDX) has declared a quarterly cash dividend of $1.15 per share. This dividend will be paid on October 3, 2022 to stockholders who are on record as of September 2, 2022. The company reported annual revenue of $94 billion and is recognized for its commitment to operational safety and ethical standards. FedEx aims for carbon-neutral operations by 2040, serving a broad portfolio of customers globally.