FedEx ignites 14% on Wall Street!





Image source © Reuters

(Boursier.com) – FedEx On Tuesday, 14.4% on Wall Street jumped to $229.95, marking its largest increase in thirty years, while the US rating remains under pressure today. The delivery giant just announced a 53% increase in its quarterly profit, along with other value-enhancing measures.

Two administrators have been added to the board of directors in agreement with activist investor DE Shaw & Co, which also produces its small impact. The quarterly cash dividend is increased to $1.15. While Raj Subramaniam has just taken over the group, operators appear to be betting on strong resistance from FedEx in an economic context that promises to be difficult. The Memphis Group intends to reduce its capital expenditures and review its executive compensation program.

Fred Smith, the group’s founder who has just left public management, remains its largest shareholder with 7.5% of the stock. DE Shaw owned 1 million shares at the end of March. The company has already demonstrated its active capabilities at ExxonMobil, Lowe’s and many other companies.


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