FedEx Is Flying, but Cisco Just Made This Tech Stock Thursday's Big Winner
Stock market investors have faced a tough environment to navigate. Between all the macroeconomic factors at play and news at the individual company level, it has been difficult to get a sense of the overall direction of the financial markets. After solid gains earlier in 2023, stocks seem to be limping their way toward year-end with plenty of uncertainty.
Yet a couple of forces have benefited certain stocks. Improving financial results have sometimes been a catalyst for gains, as shipping giant FedEx (NYSE: FDX) is seeing Thursday morning. An acquisition bid can also give a stock a huge lift all at once, and shareholders in Splunk (NASDAQ: SPLK) are seeing firsthand what can happen when a major player in the technology industry like Cisco Systems (NASDAQ: CSCO) gets interested in a smaller peer.
Shares of FedEx rose nearly 5% early Thursday morning. The delivery company reported fiscal first-quarter financial results for the period ended Aug. 31, and investors were generally satisfied with the mixed numbers from the company.
Source Fool.com
Fedex Corp. Stock
With 43 Buy predictions and not a single Sell prediction Fedex Corp. is an absolute favorite of our community.
As a result the target price of 295 € shows a slightly positive potential of 9.73% compared to the current price of 268.85 € for Fedex Corp..
