Fedex Corp Stock Price, News & Analysis

FedEx Corp. (NYSE: FDX) has committed $5 million to four Historically Black Colleges and Universities (HBCUs) in Mississippi and Tennessee. This initiative aims to enhance education and job readiness for students at Tennessee State University, Jackson State University, Mississippi Valley State University, and LeMoyne-Owen College. A portion of the funding will assist those affected by COVID-19. This pledge reflects FedEx's ongoing efforts to promote equity and opportunity in the Black community through education and economic support.

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), has been awarded the 2020 Malaysia Customer Value Leadership Award by Frost & Sullivan. This recognition highlights FedEx's ability to leverage its vast global network and advanced technologies to meet customer demands in the Malaysian express international courier market. FedEx Malaysia boasts over 17 branches and employs over 1,400 staff, connecting customers to delivery services worldwide. The company utilizes innovations like robotic process automation and strategic partnerships to enhance service accessibility, particularly for eCommerce customers.

FedEx has delivered the Vince Lombardi Trophy to Tampa Bay for Super Bowl LV, marking over 20 years of service as the NFL's Official Delivery Service Sponsor. The trophy was transported from NFL Headquarters in New York, through Memphis, and onto the Tampa Riverwalk, where it will be showcased at the Super Bowl Experience until it is awarded on February 7. The delivery underscores FedEx's commitment to reliability, with over 600,000 team members handling more than a billion deliveries annually. FedEx SenseAware technology ensured real-time monitoring of the trophy's journey.

FedEx Corp. (NYSE: FDX) announces the retirement of Henry J. Maier, CEO of FedEx Ground, effective July 31, 2021. John A. Smith, current CEO of FedEx Freight, will succeed him. Maier, with over 35 years at FedEx, has driven significant growth and transformation within FedEx Ground, which saw its revenue double under his leadership. Smith, set to become CEO on June 1, 2021, has extensive experience in the industry. Lance D. Moll will succeed Smith at FedEx Freight, bringing nearly 30 years of experience to the role. These leadership transitions are aimed at continuing growth and innovation.

FedEx Corp. (NYSE: FDX) has completed its acquisition of ShopRunner, an e-commerce platform that connects brands with online shoppers. This acquisition enhances FedEx's e-commerce capabilities and aims to provide more value to brands, merchants, and consumers. ShopRunner connects over 100 brands to millions of consumers, offering benefits like free two-day shipping and exclusive discounts. The integration is expected to unlock new opportunities in the e-commerce space by leveraging FedEx's logistics and data-driven marketing efforts.

FedEx Express, a FedEx Corp. subsidiary, has initiated operations to transport Moderna's COVID-19 vaccines for McKesson Corp. across the U.S. following FDA's Emergency Use Authorization. Utilizing FedEx Priority Overnight service with advanced monitoring, the firm is poised to deliver vaccines and related supplies after extensive planning with health officials. FedEx continues to deliver the Pfizer-BioNTech vaccine and expand its capabilities, including temperature-controlled solutions and a dedicated healthcare team, ensuring safe and timely deliveries in support of pandemic relief efforts.

FedEx Corp. (NYSE: FDX) reported consolidated results for Q2 FY2021, achieving revenues of $20.6 billion compared to $17.3 billion in Q2 FY2020. Operating income rose to $1.47 billion, with a diluted EPS of $4.55. Key drivers included growth in FedEx International Priority and U.S. domestic residential services, enhanced by pricing initiatives. Despite these gains, expenses related to COVID-19 and service expansions impacted profitability. FedEx did not provide an earnings forecast for FY2021 but anticipates earnings growth in the second half due to increased service demand.

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), has received its first ATR 72-600F aircraft, marking a significant milestone in its feeder aircraft fleet modernization. The new freighter enhances FedEx's ability to serve customers in hard-to-reach areas and can carry larger payloads than converted models. Under a purchase agreement made in November 2017, FedEx plans to acquire 30 ATR 72-600F aircraft, with the first operated by ASL Airlines Ireland. Currently, FedEx operates 364 feeder aircraft in 56 countries, bolstering its global delivery capabilities.

FedEx Express, a subsidiary of FedEx Corp (NYSE: FDX), announced the start of operations to transport COVID-19 vaccines following FDA's Emergency Use Authorization for the Pfizer-BioNTech vaccine. The company will use its FedEx Priority Overnight service and advanced monitoring to ensure safe deliveries. FedEx has committed to $4 million in support for underserved communities and has transported over 55 kilotons of personal protective equipment since the pandemic began. The FedEx network consists of over 5,000 facilities and nearly 600,000 team members, showcasing its capacity to handle critical shipments.