UPS (UPS) Up, e-Commerce Mixed Following FedEx (FDX) Results
Following strong quarterly resultsFDX) is ticking higher on Wednesday's session.
FedEx reported Q1 EPS of $1.53, topping expectations by 2 cents. The company also reaffirmed FY14 expectations, which assumes the market outlook for fuel prices, U.S. GDP growth of 2.1 percent and world GDP growth of 2.6 percent. The company will also implement rate increases across the board.
As expected, United Parcel Service (NYSE: UPS) is also up on the news today. Another segment that is seeing some action is e-commerce. While Amazon.com (Nasdaq: AMZN) is up today, eBay (Nasdaq: EBAY) and Overstock.com (Nasdaq: OSTK) are lower.
FedEx reported Q1 EPS of $1.53, topping expectations by 2 cents. The company also reaffirmed FY14 expectations, which assumes the market outlook for fuel prices, U.S. GDP growth of 2.1 percent and world GDP growth of 2.6 percent. The company will also implement rate increases across the board.
As expected, United Parcel Service (NYSE: UPS) is also up on the news today. Another segment that is seeing some action is e-commerce. While Amazon.com (Nasdaq: AMZN) is up today, eBay (Nasdaq: EBAY) and Overstock.com (Nasdaq: OSTK) are lower.