Why FedEx Shares Are Trading Higher By Around 12%; Here Are 20 Stocks Moving Premarket

Author: Avi Kapoor | March 22, 2024 08:10am

Shares of FedEx Corporation (NYSE:FDX) rose sharply in today’s pre-market trading after the company reported better-than-expected earnings for its third quarter and authorized a new $5 billion share repurchase program.

FedEx reported quarterly earnings of $3.86 per share which beat the analyst consensus estimate of $3.45 by 11.88% and represents a 13.2% increase over earnings of $3.41 per share from the same period last year. Quarterly sales came in at $21.7 billion, missing the analyst consensus estimate of $22.04 billion, according to data from Benzinga Pro.

FedEx shares surged 12.4% to $297.72 in pre-market trading

Here are some other stocks moving in pre-market trading.

Gainers

• Murano Global Investments PLC (NASDAQ:MRNO) shares rose 266.4% to $35.43 in pre-market trading after falling 46% on Thursday.
• Nova LifeStyle, Inc. (NASDAQ:NVFY) rose 62.5% to $2.99 in pre-market trading after gaining around 22% on Thursday.
• BIOLASE, Inc. (NASDAQ:BIOL) shares rose 32.8% to $0.1990 in pre-market trading after the company reported better-than-expected fourth-quarter earnings results.
• Griid Infrastructure Inc. (NASDAQ:GRDI) climbed 30.9% to $1.44 in pre-market trading.
• Visionary Holdings Inc. (NASDAQ:GV) shares gained 16.1% to $0.1950 in pre-market trading after dipping 6% on Thursday.
• SU Group Holdings Limited (NASDAQ:SUGP) gained 13.1% to $3.29 in pre-market trading after declining around 9% on Thursday.
• HeartBeam, Inc. (NASDAQ:BEAT) shares rose 10.8% to $2.56 in pre-market trading as the company reported fourth-quarter financial results.
• Ocugen, Inc. (NASDAQ:OCGN) gained 9% to $1.46 in pre-market trading after gaining 8% on Thursday. Ocugen recently appointed Huma Qamar, MD, MPH as Chief Medical Officer.
• Worthington Steel, Inc. (NYSE:WS) gained 3.9% to $33.15 in pre-market trading as the company posted stronger-than-expected results for its third quarter on Thursday.

Losers

• Abits Group Inc. (NASDAQ:ABTS) dipped 17.6% to $0.6398 in pre-market trading after declining over 6% on Thursday.
• Lululemon Athletica Inc. (NASDAQ:LULU) declined 12.8% to $417.25 in pre-market trading. Lululemon posted better-than-expected results for its fourth quarter, but issued a weak forecast for the first quarter.
• Selina Hospitality PLC (NASDAQ:SLNA) fell 11.5% to $0.2478 pre-market trading after jumping around 30% on Thursday.
• Pyxis Oncology, Inc. (NASDAQ:PYXS) fell 11.3% to $4.40 in pre-market trading after falling over 8% on Thursday. The company, on Thursday, reported FY23 financial results.
• Ispire Technology Inc. (NASDAQ:ISPR) fell 11.3% to $7.20 pre-market trading after dipping 15% on Thursday.
• Asset Entities Inc. (NASDAQ:ASST) fell 10.9% to $0.5750 in pre-market trading. Asset Entities shares surged around 23% on Thursday after the company announced that it entered into an agreement with Zendrop.
• MMTec, Inc. (NASDAQ:MTC) shares tumbled 10.7% to $2.05 in pre-market trading after gaining 20% on Thursday.
• JOANN Inc. (NASDAQ:JOAN) shares fell 9.1% to $0.14 in pre-market trading after surging 14% on Thursday.
• Next.e.GO N.V. (NASDAQ:EGOX) shares fell 8.4% to $0.0461 in pre-market trading after dipping 16% on Thursday.
• NIKE, Inc. (NYSE:NKE) shares tumbled 6.3% to $94.49. Nike reported upbeat earnings and sales results for its third quarter on Thursday.

 

Now Read This: FedEx, Nike And 3 Stocks To Watch Heading Into Friday

Posted In: ABTS ASST BEAT BIOL EGOX FDX GRDI GV ISPR JOAN LULU MRNO MTC NKE NVFY OCGN PYXS SLNA SUGP WS