Why FedEx Shares Are Trading Higher By Around 12%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
FedEx Corporation (NYSE:FDX) shares surged approximately 12% in pre-market trading after reporting Q3 earnings that exceeded expectations and announcing a new $5 billion share repurchase program. Other stocks also showed significant movement in pre-market trading, with notable gainers including Murano Global Investments PLC and Nova LifeStyle, Inc., and losers such as Lululemon Athletica Inc. and NIKE, Inc.
March 22, 2024 | 12:10 pm
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POSITIVE IMPACT
FedEx Corporation shares rose sharply after reporting better-than-expected Q3 earnings and a new $5 billion share repurchase program.
The positive earnings report and share repurchase program announcement are likely to boost investor confidence in FedEx, leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Lululemon Athletica Inc. shares declined in pre-market trading after issuing a weak forecast for the first quarter despite posting better-than-expected Q4 results.
Despite strong Q4 results, Lululemon's weak forecast for the upcoming quarter has likely led to negative investor sentiment, impacting its stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
NIKE, Inc. shares fell in pre-market trading despite reporting upbeat earnings and sales results for its third quarter.
The drop in NIKE's stock price despite positive earnings and sales results could be attributed to market expectations being higher than the reported results, leading to a short-term negative impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80