Stock Market

In this article

A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, US, on Monday, Nov. 28, 2022.
Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines in extended trading.

FedEx — The package-shipping company’s shares were up 9% after it reported a beat on earnings in its fiscal third quarter and raised its earnings forecast for the full year. FedEx reported adjusted earnings of $3.41 per share, topping analysts’ estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company’s revenue fell below expectations. FedEx posted $22.17 billion in revenue, while analysts had estimated $22.74 billion. Shares of United Parcel Service popped 2% in sympathy.

First Republic Bank — The bank’s shares were down 15% during after-hours trading. During the regular trading session, the stock reversed earlier losses and rallied almost 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in First Republic. Shares of Zions Bancorp and KeyCorp, which are among the regional banks facing a rough week, fell more than 2%.

Merck — Shares of the pharmaceutical company fell nearly 2% in extended trading after Merck provided an update on a trial for one of its metastatic non-small cell lung cancer drugs. The results didn’t reach “statistical significance,” and Merck said patients in this arm of the study “should be switched to a standard of care.”

Articles You May Like

Mortgage demand stalls, even as interest rates moderate
No slowdown in spending among the wealthy on this Bahamian island
Russia detains 11 suspects after deadly attack on Moscow theatre
Balancing Act: Lander says $12B hike in NYC’s debt limit is reasonable
Russia declares invasion of Ukraine a ‘war’