Returning home from your job as a financial analyst covering the airline industry, you find a message
Question:
FedEx announced first quarter net income of $1.53 per share, up 39% from the $1.10 per share the company earned in the same quarter last year. FedEx also raised its forecasted earnings for the year from $6.30 to $6.65 per share. Despite this good earnings news, the stock price fell nearly 2%.
Required:
Explain to your father why the price of FedEx shares might have fallen on the earnings announcement date.
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Step by Step Answer:
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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