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FedEx Corp (NYSE: FDX) is gaining sharply in extended hours on Tuesday after coming in ahead of Street estimates for its fourth financial quarter. Shares of the package delivery company are now trading at a year-to-date high. FedEx stock rallies on impressive guidanceFedEx stock is in the green in after-hours also because its management issued upbeat guidance for the future. The multinational now forecasts its per-share earnings to fall between $20 and $22. Analysts, in comparison, were at $20.85. Raj Subramaniam – the chief executive of FedEx said in a press release today: Q4 results reflect ...
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Carnival Corp (NYSE: CCL) is trading up in premarket on Tuesday after reporting market-beating financial results for its second quarter. Carnival stock does not currently pay a dividend. Carnival stock gains on upbeat guidanceThe stock is being rewarded also because CCL issued encouraging guidance for the future. Carnival now forecasts its adjusted net income to print at $275 million this year – up more than %. Carnival also expects net yields to come in at 10.25% in fiscal 2024. Josh Weinstein – its chief executive said in a press release today: On our upwardly revised guidance, we will be on...
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Famed investor Jim Cramer is not all that excited about United Parcel Service Inc (NYSE: UPS) opting to sell its Coyote Logistics business to RXO Inc (NYSE: RXO). Shares of both companies are still up significantly on Monday. Here’s why Cramer is dovish on UPS stockUPS bought Coyote Logistics for about $1.8 billion in 2015. But it’s unloading it to RXO now for $1.03 billion only, as per a press release this morning. The price of the deal announced today did not sit well with the Mad Money host who said on CNBC’s “Squawk on the Street” today: It’s good to see them have some cash in, but you don...
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Wizz Air (LON: WIZZ) share price crashed by more than 5% on Friday after analysts at Barclays downgraded the stock to sell. It retreated to a low of 2,220p, its lowest level since May 31st and is about 12% below the highest level this year. Barclays downgrade Wizz AirIn a note, analysts at Barclays lowered their target to sell citing the rising competition, falling airfares, and its revenue growth. It also pointed to the ongoing engine issues since the company uses many planes made by Pratt & Whitney. The downgrade came a month after the company published strong revenue and profitability metri...
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The Virgin Galactic (NYSE: SPCE) stock price continued its remarkable sell-off this month as it crashed to its all-time low. It dropped to a low of $0.6850 on Friday, bringing the year-to-date losses to 72%. It has become a shell of its former self for a company that was once trading at $56 at a valuation of over $13 billion. Faces more headwinds aheadVirgin Galactic stock plummeted after the board voted to engineer a reverse stock split in a bid to maintain a listing at the New York Stock Exchange (NYSE). NYSE’s listing rules dictate that a company must trade above $1 for 30 days. In most cas...
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Joby Aviation (NYSE: JOBY) stock price has collapsed hard this year. Like other eVTOL companies like Liliumand Archer Aviation, it has crashed by over 25% in 2024 and by 35% in the past 12 months. It has plunged by over 57% from its highest level in 2023, giving it a market cap of over $3.8 billion. Market size concernsJoby Aviation, one of the biggest eVTOL companies in the industry, has made a lot of progress as it matches towards certification. It has become the first electric taxi company to have its final airworthiness published by the FAA. The company has also carried out intensive tests...
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The ZIM Integrated (NYSE: ZIM) and Star Bulk Carriers (NASDAQ: SBLK) stock prices have plunged hard this week, continuing a trend that started last week. SBLK shares crashed to a low of $24.5 on Tuesday, down by 7.6% from its highest point this year. Similarly, ZIM Integrated’s shares crashed to $17.65, down by over 25% from the highest level this year. Other shipping-related stocks like Maersk, Golden Ocean Group, and Costamere have also retreated sharply recently. Israel and Hamas ceasefireZIM and SBLK stock prices have tumbled hard because of the ongoing happenings in the Middle East where ...
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Lilium (LILM) and Archer Aviation (ACHR) stock prices have crashed hard in the past few years, costing investors billions of dollars. Archer’s shares have plunged by over 81% from the highest point in February 2021. Its market cap has dropped from over $2.12 billion in 2021 to $1 billion today. Most eVTOL stocks have plungedSimilarly, the Lilium share price has plunged from the all-time high of $15.56 to less than $2, bringing its valuation from $2.8 billion to $600 million. The same has happened among other eVTOL companies like Joby and Blade Air Mobility, whose shares are significantly lower...
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Zim Integrated Shipping Services Ltd (NYSE: ZIM) is trading about 10% down in premarket on Tuesday after reporting worse than expected per-share earnings for its fiscal first quarter. Zim Integrated’s guidance for the futureThe stock is taking a hit even though the cargo transport company raised its guidance for the full year. $ZIM now forecasts its adjusted EBITDA to fall between $1.15 billion and $1.55 billion in 2024. Eli Glickman – chief executive of the New York listed firm said in a press release today: Looking ahead, we now expect freight rates to remain stronger for longer than initial...
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Cruise stocks are in the green at writing after Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) talked of “very strong demand” at its investor conference on Monday. Norwegian Cruise Line raised full year outlookNorwegian raised its profit guidance for the full year and laid out a three-year plan aimed at increasing shareholder returns at its investor day. The cruise lines operator is calling that strategy “Charting the Course”. $NCLH cited “record bookings” and said it now expects to earn $1.42 per share on an adjusted basis this year. Analysts, in comparison, were at $1.36 a share. The cruise...
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