CNBC's "Fast Money" FedEx’s Big Jump Post Earnings, and Housing Market Headache 6/25/24
Jun 25, 2024
FedEx's impressive earnings report led to a surge in shares, while the housing market faces challenges with a 'stuck' forecast. The podcast delves into the impact on related industries, home builders' resilience, and pharmaceutical giants' performance and innovations. Stock movements of Walmart and Rivian are also highlighted, along with discussions on partnerships, lounge openings, and investing in small cap stocks.
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FedEx Soars on Earnings and Freight Assessment
- FedEx shares soared after beating earnings expectations and providing solid guidance.
- The company's plans to assess FedEx Freight and potential spin-off or sale contributed to the stock's rise.
FedEx Freight Spin-off Similar to XPO and UPS Strategies
- FedEx's potential spin-off or sale of its Freight business, the largest in the nation, is similar to XPO's strategy.
- UPS also sold off its logistics business and less-than-truckload business to focus on e-commerce and data.
Housing Market Faces Prolonged Challenges
- The housing market faces challenges due to reduced affordability, a lock-in effect for homeowners, and limited activity.
- Economists at Bank of America predict the market will remain "stuck" until at least 2026.