Stock Market Update
26-Jun-26 11:05 ET
FedEx Freight moves lower after earnings
Dow -27.38
at 51893.24,
Nasdaq -42.66
at 25336.94,
S&P -3.10
at 7354.39
[BRIEFING.COM] The major averages now trade near their flat lines after steadily chipping away at their opening losses.
On the earnings front, FedEx Freight (FDXF 147.34, -11.20, -7.06%) shares are lower after the company's first earnings report as a standalone company delivered mixed signals, with revenue rising 4.8% year-over-year to $2.40 billion and coming in ahead of the $2.28 billion FactSet consensus. The problem for the stock is that the revenue growth was driven primarily by fuel surcharges and higher weight per shipment, while lower shipment volumes, a slight decline in base revenue per hundredweight, spin-off cost noise, and a transition-period margin outlook that did not clearly exceed the prior-year comparison left investors without the clean standalone reset they wanted.
