FedEx (FDX) gapped sharply today in reaction to FQ4 results that topped expectations. The company said that while commercial volumes were down significantly due to business closures, surges in residential deliveries at FedEx Ground, and in transpacific and charter flights at FedEx Express, provided an offset.
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The retailer, like many others, reported numbers that were not as bad as expected and rewarded investors as a result.
Be cautious if considering this stock, the bullish case is not clear.