FedEx stock rises 3.98% and outperforms delivery rivals
Updated
Updated · MarketWatch · May 6
FedEx stock rises 3.98% and outperforms delivery rivals
13 articles · Updated · MarketWatch · May 6
Shares closed at $377.19 on Wednesday, beating UPS, up 1.86% to $99.89, and ZTO Express, up 2.01% to $25.88.
The gain came in a broadly stronger market, with the S&P 500 rising 1.46% to 7,365.12 and the Dow adding 1.24% to 49,910.59.
It was FedEx's second straight daily advance, with trading volume at 2.3 million shares above its 50-day average of 1.8 million, though the stock remains 6.64% below its 52-week high.
Can FedEx's internal savings shield it from Amazon's aggressive push into the B2B logistics market?
Will the FedEx Freight spin-off unlock new value or create a weaker, less integrated company?