While you were sleeping: Tax bill passes Congress, FedEx rallies

Wed, 20 Dec 2017

By Margreet Dietz Dec. 21 (BusinessDesk) - Wall Street moved higher after the Republican tax reform bill passed Congress and is set to deliver corporate tax cuts that will bolster profits including for FedEx. Shares of FedEx rallied, up 3.6 percent as of 1.29pm in New York, after the company posted better-than-expected quarterly earnings and lifted its full-year earnings outlook. FedEx also said the US tax overhaul bill could boost its 2018 earnings by an estimated US$4.40 to US$5.50 per share. “Strategic execution by the FedEx te...

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