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Shipping giant FedEx is set to report Q4 earnings on Thursday after the closing bell with analysts expecting a 37% rise.
RACHELLE AKUFFO: All right, well, shifting gears now with my stock to watch, and tomorrow, that will be FedEx. The shipping giant reporting after the close. Analysts expecting earnings to rise 37% from a year ago and revenue to jump 8%. As you can see, the stock doing well slightly in afterhours trading there.
Now the results come a week after FedEx gave investors some good news, a dividend increase and spending cuts. That was the first big move from the newly minted CEO Raj Subramaniam, who took over from FedEx founder Fred Smith. Now FedEx is also fending off an activist bid from DE Shaw by bringing on new board members. Investors will get another update on the company next week with both an investor and analyst day.