Stock Market

In this article

A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, US, on Monday, Nov. 28, 2022.
Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines in extended trading.

FedEx — The package-shipping company’s shares were up 9% after it reported a beat on earnings in its fiscal third quarter and raised its earnings forecast for the full year. FedEx reported adjusted earnings of $3.41 per share, topping analysts’ estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company’s revenue fell below expectations. FedEx posted $22.17 billion in revenue, while analysts had estimated $22.74 billion. Shares of United Parcel Service popped 2% in sympathy.

First Republic Bank — The bank’s shares were down 15% during after-hours trading. During the regular trading session, the stock reversed earlier losses and rallied almost 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in First Republic. Shares of Zions Bancorp and KeyCorp, which are among the regional banks facing a rough week, fell more than 2%.

Merck — Shares of the pharmaceutical company fell nearly 2% in extended trading after Merck provided an update on a trial for one of its metastatic non-small cell lung cancer drugs. The results didn’t reach “statistical significance,” and Merck said patients in this arm of the study “should be switched to a standard of care.”

Articles You May Like

Tax blow for 1mn UK top earners by 2027
Inflation is down — but the middle class is still feeling financial pressure. Here’s why
Israel launches wave of strikes on Iran
Ukraine and Russia in talks about halting strikes on energy plants
Indonesia expresses intention to join Brics