Will FedEx Stock Surge Again After Earnings?

FDX has a positive history of post-earnings reactions

Jake Scott

Deputy Editor

Sep 11, 2024 at 12:53 PM

Shipping giant FedEx Corporation (NYSE:FDX) will report fiscal first-quarter results after the close on Thursday, Sept. 19. Post-earnings reactions over the past two years were mostly positive, with five of the last eight yielding positive returns, including 15.5% and 7.4% pops in June and March, respectively. FDX averaged a 7.1% over that period, regardless of direction, but this time the options pits are pricing in a larger 9.1% swing.

Digging deeper, after the company's June report FedEx stock soared to a three-year high of $313.84. Since then, the $300 level has moved in as resistance, rejecting a late August rally. FDX was last seen down 1.2% to trade at $280.58 and is pacing for its fifth loss in the last seven sessions, though it still sports a 10.9% year-to-date lead.

FDX Chart September 112024

Sentiment among FedEx options players has been bearish of late. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock sports a 10-day put/call volume ratio of 1.20, which ranks higher than 91% of readings from the past year. Echoing this, FDX's Schaeffer's put/call open interest ratio (SOIR) of 1.16 stands higher than 87% of annual readings.

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