Why Shares of FedEx Are Up Today

Shares of FedEx (NYSE: FDX) are up 13% on Thursday afternoon as markets continue to digest the company's third quarter earnings report. The results weren't fantastic, but they were a lot better than what some investors had feared.

FedEx investors had a miserable 2019, and hopes that the company, and the stock, would recover in 2020 have been shaken by the global slowdown caused by the COVID-19 coronavirus. FedEx shares heading into earnings were down 40% year to date, and down 62% over the past year.

Image source: FedEx.

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Source Fool.com