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Fiscal first-quarter earnings from FedEx beat analysts’ estimates.
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Stock futures traded lower Thursday after equities dropped as the Federal Reserve held interest rates steady but signaled that one more quarter-point rate hike was possible this year. The central bank also projected rate cuts in 2024 but not as many as it previously did.
These stocks were poised to make moves Thursday:
FedEx
(FDX) shares rose 5.4% in premarket trading after the shipping company reported fiscal first-quarter earnings that beat analysts’ estimates and an increase in operating margins amid cost-cutting measures.
FedEx
also boosted its fiscal-year guidance, saying it expects adjusted profit of $17 to $18.50 a share, up from its previous forecast of $16.50 to $18.50. Rival
United Parcel Service
(
UPS
) was up 0.9%.
Klaviyo
(KVYO) was down 3.6% to $31.58 in premarket trading after the Boston-based marketing software company opened for trading Wednesday at $36.75, up 23% from the initial offering price of $30, and closed at $32.76, up 9.2%.
KB Home
(KBH) posted better-than-expected fiscal third-quarter earnings and raised its fiscal-year revenue forecast. Chairman and Chief Executive Jeffrey Mezger said in a statement that demand was “steady” throughout the third quarter “even though mortgage interest rates rose as the quarter progressed.” The stock fell…
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