September 10, 2008 at 10:00 AM EDT
Two Ways To Play: FedEx, Texas Instruments a Silver Lining
FDX Higher on Cheaper Gas Helping stock futures this morning is news from FedEx (FDX). According to Bloomberg the world’s largest air-cargo carrier said 1Q profit would exceed its prior forecasts due in part to “lower-than-expected fuel costs” and “stringent cost management.”The company said earnings for the most recent quarter would come in at $1.23 a share better than its previous outlook of 80 cents to $1. It also reaffirmed full-year profit forecasts of $4.75 to $5.25 a share. But CFO Alan Graf said that although the decline in fuel prices could be beneficial “the slowing economic growth trend ...
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