Why FedEx Stock Has Risen More Than 13% in 2021
FedEx (NYSE: FDX) stock has climbed 13.57% so far this year. It began the year at $253.19 and closed at $294.82 on Monday. It's down a little from its high point of $319.90 that it reached on May 27.
On June 24, the company announced its 2021 fiscal full-year earnings, with reported revenue of $84 billion, up 21.3% year over year. It also reported $5.23 billion of net income, compared to $1.29 billion in fiscal 2020.
Despite what were obviously strong numbers, the transportation stock has fallen a bit since the report from a high of $304.59 on the day of the report to a low of $291.24 on July 7. Why did the investors react with a collective yawn? A big concern among investors is the company's rising labor costs, something FedEx alluded to in its fourth-quarter earnings call.
Source Fool.com
