Stocks to Watch: FedEx, Steelcase, KULR Technology
By Ben Glickman
FedEx slashed its full-year outlook for revenue after top- and bottom-line results missed analysts' estimates in the fiscal second quarter. The company has continued to see weaker shipping demand but raised profits in the period because of ongoing cost-cutting. Shares fall 9.1% to $254.50 after-hours.
Steelcase's sales fell 6% in the fiscal third quarter, more than expected by analysts. The furniture company forecast a revenue drop of 1% to 5% in the fourth quarter because of a lower order backlog as of the end of previous period. Shares fall 8.4% to $11.63 after-hours.
KULR Technology announced an underwritten public offering, but didn't say how many shares it would sell. The company plans to use proceeds for paying off credit facilities. Shares fall 16% to 25 cents after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 19, 2023 18:58 ET (23:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst