FedEx Shares Surge on Strong Earnings and Strategic Moves

The delivery giant's stock sees significant gains following better-than-expected earnings and potential spinoff plans for its freight division.

FedEx reported adjusted earnings per share of $5.41, surpassing analyst estimates.
Revenue for the fourth quarter was $22.1 billion, slightly above expectations.
The company is evaluating options for its FedEx Freight division, which could lead to a spinoff.
Cost-cutting measures under the DRIVE program have significantly improved profitability.
FedEx forecasts continued growth and margin improvement for fiscal 2025.