SINT - US Stocks Edge Lower; FedEx Posts Upbeat Earnings | Benzinga
U.S. stocks traded slightly lower this morning. Following the market opening Friday, the Dow traded down 0.06% to 39,758.88 while the NASDAQ fell 0.10% to 16,385.60. The S&P 500 also fell, dropping, 0.01% to 5,241.33.
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Leading and Lagging Sectors
Utilities shares jumped by 0.5% on Friday.
In trading on Friday, consumer discretionary shares fell by 0.9%.
Top Headline
FedEx Corporation (NYSE: FDX) reported better-than-expected earnings for its third quarter and authorized a new $5 billion share repurchase program on Thursday.
FedEx reported quarterly earnings of $3.86 per share which beat the analyst consensus estimate of $3.45 by 11.88% and represents a 13.2% increase over earnings of $3.41 per share from the same period last year. Quarterly sales came in at $21.7 billion, missing the analyst consensus estimate of $22.04 billion, according to data from Benzinga Pro.
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