Jim Cramer Is Watching FedEx’s Earnings on Wednesday

TheStreet’s Jim Cramer says he's keeping an eye on quarterly results from FedEx which are due to be released after the markets close on Wednesday.

Author:: Jim Cramer
Publish date:: Mar 15, 2016 5:00 PM EDT

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer awaits quarterly results from FedEx (FDX), released after the markets close on Wednesday. Analysts expect the Memphis, Tenn.-based company to report fiscal 2016 third quarter earnings per share of $2.35 with sales of $12.4 billion. During the same quarter last year, the shipping giant posted net income of $2.03 on revenue of $11.7 billion. ‘I worry about FedEx,’ Cramer said, referring to news reports of Amazon (AMZN) competing with FedEx. ‘I have no edge – I wouldn’t trade it.’ Last week, Seattle-based Amazon unveiled plans to launch its own air cargo platform. The company is set to lease 20 Boeing (BA) 767 freight jetliners for five to seven years from Air Transport Services Group (ATSG).