Stocks to Watch: FedEx, Facebook

NEW YORK -- FedEx ( FDX), the package delivery giant, said it now expects earnings of $1.37 to $1.43 a share in its fiscal first quarter ended in August, well below its original forecast for a profit of $1.45 to $1.60 a share.

FedEx said global weakness "constrained revenue growth at FedEx Express more than expected in the earlier guidance."

Analysts were expecting earnings of $1.56 a share in the first quarter.

Facebook ( FB) CEO Mark Zuckerberg indicated he has no plans to sell any of his stock holdings in the social networking giant for at least 12 months.

In a regulatory filing, however, Facebook said it plans to temporarily waive certain restrictions on some employee stock sales for a short period after its third-quarter report in October. Facebook said it estimates 234 million shares "held by employees who are employed by Facebook through October 15, 2012, will be eligible for sale in the public market as of market open on October 29, 2012."

The stock hit an all-time low of $17.55 during Tuesday's regular trading session but bounced back by about 2% in after-hours trading.

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Apple ( AAPL) confirmed Tuesday it is holding a big event, widely expected to be the launch of the iPhone 5, on Sept. 12.

The stock finished Tuesday's regular session at $674.97, up 1.5%. The shares are up more than 60% in 2012.

Nokia ( NOK) and Microsoft ( MSFT) are expected Wednesday to unveil Nokia's new Lumia 920 smartphone in New York.

The new phone, Nokia's most powerful, will feature Windows Phone 8, the latest version of Microsoft's operating system.

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Finisar ( FNSR) posted fiscal first-quarter non-GAAP profit of $10.9 million, or 12 cents a share, on revenue of $220.5 million for the three months ended in July, below the average estimate of analysts for earnings of 14 cents a share on revenue of $226.3 million.

Finisar said it expects revenue growth to resume in the current quarter.

Dollar General ( DG) is expected by analysts Wednesday to post fiscal-second quarter earnings of 64 cents a share on sales of $3.96 billion.

-- Written by Joseph Woelfel

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