Is FedEx a Buy Following Its FedEx Freight Spinoff?
Key takeaways
- FDX NVDA Fed Ex (NYSE: FDX) completed the spinoff of its Fed Ex Freight business (NYSE: FDXF) on June 1, making Fed Ex Freight a separate, less-than-truckload (LTL) business focused on short-distance deliveries.
- Fed Ex operates more than 650 planes as the world s largest express air cargo carrier and delivers to more than 220 countries.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
FDX NVDA Fed Ex (NYSE: FDX) completed the spinoff of its Fed Ex Freight business (NYSE: FDXF) on June 1, making Fed Ex Freight a separate, less-than-truckload (LTL) business focused on short-distance deliveries. The point is to unlock shareholder value as both companies can focus on their own concerns.
Fed Ex operates more than 650 planes as the world s largest express air cargo carrier and delivers to more than 220 countries. Its shares are up more than 45% so far this year, but fell 17% on the first trading day since the spinoff, while FedEx Freight s shares dropped more than 6%.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »