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Parcel carrier and logistics operator FedEx (FDX) jumped in after-hours trading on Thursday after releasing fiscal second quarter earnings results alongside an announcement that it plans to spin off its FedEx Freight business. While topping adjusted earnings per share estimates ($4.05 vs. the expected $3.98), FedEx came just short of its revenue estimates ($22.0 billion vs. expected $22.15 billion).
Its FedEx Freight unit also came below revenue forecasts by posting $2.18 billion ($2.36 billion was expected).
Market Domination Overtime's Julie Hyman and Josh Lipton report more on the latest news out from FedEx, which is also cutting its adjusted earnings full-year forecast.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
This post was written by Luke Carberry Mogan.