FedEx Corp. (FDX) shares are progressing more than 8 percent on Friday morning trade after the company raised its earnings forecast for the full year. Reports said that the company is planning to recover inflation through cost-cutting. The shares have been on an uptrend since March 15.
Looking ahead to the fiscal year the company expects earnings in a range of $13.80-$14.40 per share, up from its previous forecast was $12.50 - $13.50 per share.
Currently, shares are at $219.71, up 7.73 percent from the previous close of $204.05 on a volume of 4,219,863.
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