FedEx shares are trading higher after the company beat Q3 EPS expectations and authorized a new $5 billion share repurchase program.
Portfolio Pulse from Benzinga Newsdesk
FedEx shares surged following the announcement of Q3 earnings surpassing expectations and the initiation of a new $5 billion share repurchase program.
March 21, 2024 | 8:13 pm
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FedEx announced better than expected Q3 earnings and a new $5 billion share repurchase program, leading to a surge in its stock price.
Beating earnings expectations generally leads to positive investor sentiment, boosting stock prices. The announcement of a substantial share repurchase program further signals the company's confidence in its financial health and prospects, encouraging investment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100