Several earnings reports this morning — here they are in a New York minute:
Federal Express (FDX) shares were down $3.20, or 3.6%, at $86.75 after the company reported fiscal Q2 profit of $1.10, 4 cents ahead of estimates, but said Q3 profit would come in around 50 cents to 70 cents per share” this quarter, well below the 84 cents consensus. Fedex is hoping to make up for it the rest of the year, forecasting profit in line with expectations, and essentially speaking of this quarter as just a blip, if you will.
General Mills (GIS) shares were up 46 cents, or .7%, at $68.75 after the company reported fiscal Q2 profit of $1.54, ahead of the $1.45 estimate, and raised its outlook for full-year profit from a prior range of $4.40 to $4.45 to a new range of $4.52 to $4.57, ahead of the $4.52 consensus estimate.
Rite-Aid (RAD) is up 5 cents, almost 4%, at $1.38 after the drug-store chain reported a Q3 net loss of just ten cents, much better than expectations for an 18-cent loss. The company forecast a narrower net loss than previously expected for the full year, at 66 cents per share to 55 cents per share, which was above the 57-cent loss analysts are currently modeling, but an improvement from prior expectations for a 74-cent loss.
Pier 1 Imports (PIR) is climbing this morning, up 20 cents, or 4%, at $5.18, after the home furnishings chain reported Q3 earnings of 37 cents per share, ahead of expectations for a 5-cent loss, and sales that were a bit ahead of expectations, rising 9% to $327 million.
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