It’s not often that I write about U.S. equities, but last week’s earnings report from FedEx Corporation caught my attention (NYSE: FDX). FDX released surprisingly strong fourth quarter results on June 30. Revenues beat analyst expectations and adjusted earnings per share (EPS) were $2.53 versus analyst expectations for $1.53. The beat was attributed to a significant surge in residential deliveries. Another recent winner has been Walmart (NYSE: WMT). On July 7, WMT announced the launch of a subscription-based service called Walmart +. This new service is aimed directly at Amazon Prime. Following the news, WMT stock jumped higher by 7% on the day and is up 5% on the year.
Disclaimer: Palos Funds are shareholders of WMT, CJT, TFII, MTL, SHOP, LSPD, KXS.
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By Charles Marleau, CIM
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