Stocks to Watch: FedEx, AMD, Apple
NEW YORK -- FedEx (FDX) , the package delivery giant, is expected by analysts Tuesday to post fiscal first-quarter earnings of $1.40 a share on revenue of $10.7 billion.
FedEx warned of a shortfall in its first-quarter results earlier this month, saying "weakness in the global economy constrained revenue growth at FedEx Express more than expected in the earlier guidance."
When the company gave its warning on Sept. 4, it forecast a profit of between $1.37 to $1.43 a share for the quarter, down from a prior projection for earnings of $1.45 to $1.60 a share.
AMD (AMD) announced the abrupt resignation of its chief financial officer, Thomas Seifert. The No. 2 chip maker behind Intel (INTC) said Monday that Seifert, who joined AMD in 2009 and served as interim CEO in 2011, is leaving to pursue other opportunities. AMD Shares Plunge on CFO Departure
Apple (AAPL) saw its shares top $700 for the first time ever in extended trading on Monday. The stock hit a new high of $701.79 after the bell following Apple's announcement earlier in the day that it sold more than 2 million units of the iPhone 5 during its first 24 hours of pre-orders. Apple Shares Reach $700
Manchester United (MANU), the English soccer club, is expected by analysts Tuesday to post a quarterly loss of 3 cents a share on revenue of $120.6 million.
Dole Food (DOLE)said Tuesday it agreed to sell its worldwide packaged foods and Asia fresh produce businesses for $1.7 billion toItochu, the Japanese trading house.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
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