Photo: Image: jurvetson
FedEx (FDX) is set to report its latest performance this Thursday, and expectations are running pretty high already for this barometer of the global economy:The Street:
The consensus estimate is $1.21 a share for the company’s fiscal first quarter, which ended Aug. 31. That is more than double the 58 cents that FedEx earned in the same period a year earlier. “The numbers are going to be good,” said Standard & Poor’s analyst Jim Corridore, in an interview. He expects “continued growth in international package and air express [to] be strong.”
Granted we have Industrial Production data tomorrow, but brace for Thursday when we’ll get the latest from FedEx, plus producer price data and initial jobless claims. Should FedEx and jobless claims both go in the same direction, ie. both exceed expectations or both disappoint, we could be in for a big day.