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Stock Alert: FedEx Gains On Higher Q1 Profit

FedEx Corp. (FDX) shares are trading higher on Wednesday as the company reported a significant increase in profit for the first quarter.

Currently, shares are at $254.10, up 7.20 percent from its previous close of $236.67.
The Memphis, Tennessee-based FedEx reported first-quarter net income of $1.245 billion or $4.72 per share, up from $745 million or $2.84 per share in the prior year. On an adjusted basis, earnings were $1.283 billion or $4.87 per share.

Looking ahead, the company expects fiscal 2021 capital spending of $5.1 billion.

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