A worker sorts packages at a FedEx Express facility on Monday, November 28, 2022, Cyber Monday in Garden City, New York, United States.
Michael Nagel | Bloomberg | Getty Images
Check out the companies making headlines in extended trading.
FedEx — Shares of the parcel delivery company rose 9% after it reported a decline in earnings in the fiscal third quarter and raised its full-year earnings guidance. FedEx reported adjusted earnings of $3.41 per share, according to Refinitiv, beating analysts’ estimate of $2.73 per share. Meanwhile, the company’s earnings fell short of expectations. FedEx posted revenue of $22.17 billion while analysts had put it at $22.74 billion. shares of United Parcel Service popped 2% in sympathy.
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Bank of the First Republic — The bank’s shares fell 15% during after-hours trading. During the regular trading session, the stock recouped earlier losses and surged nearly 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to inject $30 billion into First Republic. shares of Zion Bancorp And KeyCorpwhich are among the regional banks facing a tough week fell more than 2%.
note — Shares of the pharmaceutical company fell nearly 2% in extended trading after Merck released an update on a study for one of its drugs for metastatic non-small cell lung cancer. The results did not reach “statistical significance,” and Merck said patients in this arm of the study “should be switched to standard of care.”
https://www.cnbc.com/2023/03/16/stocks-moving-big-after-hours-fdx-frc-.html
