The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
FedEx delivered quarterly earnings that topped analysts' expectations on Wednesday, citing higher package volumes and yields.
The Memphis-based company reported fiscal third-quarter net profit of $580 million, or $2.01 per share, up 53 percent from $378 million, or $1.23 per share, a year earlier. Analysts had expected earnings per share for the quarter of $1.87.
Revenue rose to $11.72 billion from $11.3 billion a year ago.
Wall Street forecast FedEx would deliver revenue of $11.79 billion, according to consensus estimates from Thomson Reuters.
The company forecast full-year earnings below analysts' estimates as it looked for the global economy to grow at a lackluster rate.
Memphis-based FedEx also said fuel expenses were reduced by 30 percent due to low oil prices but its international business was hurt by falling fuel surcharges and the strong dollar.
The quarter included the company's crucial peak holiday season in the United States.
"We had a very successful peak season as volumes grew across all our segments," Chief Executive Officer Fred Smith said on a conference call with analysts.
Last month, FedEx's main rival, United Parcel Service, reported a disappointing quarterly profit due to soaring costs during peak season. Atlanta-based UPS mobilized more workers and equipment for an anticipated surge in holiday packages, but the extra business failed to materialize, forcing the company to begin applying surcharges for residential packages during this year's peak season.
FedEx's operating expenses rose just 1 percent during the quarter, while UPS' expenses jumped nearly 16 percent during the fourth quarter, which also included a charge related to pensions.
FedEx said on its earnings call it expects the U.S. economy to grow at a rate of 3.1 percent in both 2015 and 2016.
The company expects full-year earnings in a range of $8.80 to $8.95 per share, which it said "assumes continued moderate global economic growth." Analysts have been looking for earnings of $8.97 for the full fiscal year ending May 31.
FedEx said package volumes in its international economy business were up 4 percent during the quarter, while daily volumes in its U.S. ground package delivery business rose 7 percent.
The company said average daily volume for its less expensive SmartPost product fell 7 percent due to reduced business from a major customer.
Revenue in the express business was flat at $6.66 billion due to lower fuel surcharges and the stronger U.S. dollar. But revenue at the U.S. ground package delivery and freight units rose 12 percent and 6 percent, respectively.
In early trading, FedEx shares were down 1.1 percent at $173.95. (Click here to track its shares.)
Although the package shipping company missed analysts' expectations last quarter, its operating margins surged to 8.5 percent from 7.3 percent a year earlier. In January, FedEx announced that it had completed its acquisition of logistics provider GENCO, in a move to tackle the evolving retail and e-commerce markets.
During the past year, FedEx stock rose nearly 28 percent to $175.
—Reuters contributed to this report.