FedEx Corp. (NYSE: FDX) gave a robust fourth-quarter profit outlook last week that was bolstered by higher base prices, greater fuel surcharges and an increase in shipping volumes across all its businesses. “The dynamics of global trade appear solid, although the impact of volatile fuel prices and other global events remains uncertain,” said Chairman and Chief Executive Fred Smith, on a call with analysts. FedEx is seeing strong margin improvement in its ground operations and improving margins at express and freight, said Standard & Poor’s Equity Research analyst Jim Corridore. FedEx makes up nealy 10% of IYT. [Economic Data, Upbeat Forecast Lift ETFs.]
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Max Chen contributed to this article.