Here are your trending tickers for today:
Up first is FedEx (FDX), they're up about 4.5% after reporting strong fourth-quarter growth. The company saw growth across the board, with particularly strong revenue in its ground segment which saw an 8% jump. Total revenue rose 3.5% and a share buyback pushed EPS over the top versus analyst expectations. For the full year Fed Ex sees $8.50 to $9, more or less in-line with what Wall Street was looking for but "in-line" is the new "better than expectations" for companies with heavy consumer exposure after last winter.
Next is GW Pharma (GWPH) which is down nearly 5% today after jumping up by 16% yesterday. So why is this company taking a roller coaster ride down the NASDAQ? Well...just like a good Maureen Dowd column it's all about marijuana and seizures. Yesterday GW Pharma announced that a marijuana-derived drug it was working on, Epidiolex, had shown promise in treating children with epilepsy. That sent shares soaring until the company harshed investor's mellow with a secondary share offering. GW is under contract with the British Government to grow marijuana at a secret location in England.
From FedEx to pot and straight to the recliner. The last name on today's trip is La-Z-Boy (LZB). That's right, the makers of the official furniture of the Man Cave sorely disappointed investors yesterday and it's hammering the shares for about 10%. La-Z-Boy reported a revenue shortfall of about $353 million against expectations of $368. Oddly enough La-Z-Boy blamed the weather. That's right, La-Z-Boy said sales were negatively impacted by 4 months that were nothing if not a constant reminder of the importance of comfortable furniture. Weird.