A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, U.S., Monday, Nov. 28, 2022.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines in the extended trade.
FedEx — Shares of the package delivery company rose 9% after it reported a rise in earnings in its fiscal third quarter and raised its full-year earnings forecast. FedEx reported adjusted earnings of $3.41 per share, beating analysts’ estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company’s revenue fell short of expectations. FedEx reported revenue of $22.17 billion, while analysts had estimated $22.74 billion. Shares of United Package Service 2% sympathy came out.
Bank of the First Republic — The bank’s shares fell 15% in after-hours trading. In the regular trading session, the stock reversed earlier losses and rose nearly 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion with First Republic. Shares of Zions Bancorp i KeyCorpwhich are among regional banks facing a tough week, fell more than 2%.
Merck – The drug company’s shares fell nearly 2% in extended trading after Merck provided an update on a trial of one of its metastatic non-small cell lung cancer drugs. The results did not reach “statistical significance,” and Merck said patients in that study group “should be switched to a standard of care.”