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Why Shares of FedEx Are Up Today

TheMotleyFool

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Shares of FedEx (NYSE: FDX) traded up more than 5% on Monday on renewed hope of a U.S./China trade deal. FedEx has been one of the big corporate losers from global trade tensions, and its CEO among the most outspoken critics of the ongoing battles.

FedEx holders have endured a series of quarterly earnings misses due to what CEO Fred Smith has called "a weakened global macro environment driven by increasing trade tensions and policy uncertainty." FedEx has said that its large corporate shipping partners have responded to the uncertainty created by macroeconomic conditions by cutting back on orders, depressing demand for shipping.

FedEx is taking off along with hopes for a trade deal. Image source: FedEx.

Source Fool.com

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