On Thursday morning, we’ll have earnings from FedEx Corp. (NYSE:FDX). First Call pegs estimates at $1.54 EPS on revenues of $9.07 Billion, and the next quarter is expected to show earnings of $1.97 EPS on revenues of $9.45 Billion.
This will be a key stock to watch in Transports as FedEx has become one of the more key transportation stocks. The most directly tied is UPS (NYSE:UPS). So far the market managed to shrug off the negative news from Knight Transport (NYSE:KNX) after it warned, at least YRC Worldwide Inc. (NASDAQ:YRCW) are up 1.5% at $29.56. Our other BAIT SHOP Pick from the Special Situation Investing Newsletter, Old Dominion Freight Line Inc. (NASDAQ:ODFL) shares are down 2% at $26.80 on the day.
Shares of FedEx are down 1.3% with 20 minutes to go to the market close Wednesday at $107.54, still in the lower-half of its 52-week trading range of $99.30 to $121.42.
Jon C. Ogg
September 19, 2007