Fedex (FDX) announced guidance for EPS for the quarter ending Aug 31 at $1.23. Well above the last guidance. Reason cost cutting and an unexpected drop in fuel prices toward the end of the quarter. But they still have not yet budged on guidance for the year. In fact they point to worsening economic situations in both the US and overseas.The shares pop in after market trading.The press release does not parse out how much of the gain is attributable to improved fuel prices and what may be rightfully attributable to cost cutting. We can all comprehend fuel costs as a major[...]
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[Source: The Money Blogs]
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