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2 Stocks Move on Wednesday

- By Omar Venerio

Shares of Jabil Inc. (JBL) jumped more than 7% on Wednesday after the company posted first-quarter earnings of 90 cents per share on $6.51 billion in revenue on Tuesday. The company beat earnings estimates by 2 cents and revenue expectations by $410 million.

"These strong results reflect record revenue, operating income and core EPS," CEO Mark Mondello said. "The exceptional performance is proof that our diversification strategy is working and delivering predictable returns. "

Looking ahead to the second quarter, the company expects net revenues to be in the range of $5.8 billion to $6.4 billion. Operating income is expected to be between $116 million and $168 million. Earnings are projected to range from 20 cents to 48 cents per share.

Shares of FedEx Corp. (FDX) fell 12 % on Wednes day after announcing secon d -quarter results on Tuesday. The company posted earnings of $ 4 .0 3 per share on $ 17 . 8 b illion in revenue , a 9 . 2 % increase from the prior-year quarter . The company beat earnings estimates by 9 cents and revenue expectations by $ 50 million.

The o perating income increased as a result of higher volumes.

In international markets like Europe and Asia, however, the company registered lower-than-expected revenue .

Looking ahead to the third quarter , the company expects an adjusted loss per share between 24 cents and 29 cents. For the full year, t he company projects adjusted diluted earnings between $2.30 and $2.35 per share, higher than the previous guidance of $2.35 to $2.50.

D isclosure: The author holds no positions in any stocks mentioned .

This article first appeared on GuruFocus.