Shares of FedEx Corporation (NYSE: FDX), a provider of transportation, e-commerce and business services, are down sharply in early trading today.
At last check, FDX shares were trading 1.23% lower at $86.46 on above average volume of 2.87 million. The stock fell to an intra-day low of $85.31 in today’s trading.
FDX shares are falling in early trading today after the company lowered its first-quarter earnings forecast, citing weakness in the global economy, which constrained revenue growth at FedEx Express more than expected in the earlier guidance.
FDX now expects first-quarter earnings to be between $1.37 per share and $1.43 per share. This compares with the previous earnings guidance range of $1.45 per share to $1.60 per share.
Shares of Conn’s Inc. (NASDAQ: CONN), a specialty retailer of durable consumer products, are soaring in early trading today.
At last check, CONN shares were trading 11.69% higher at $26.75 on above average volume of 727,112. The stock hit a 52-week high of $26.98 in early trading today.
CONN shares are soaring after the company reported its second-quarter financial results. For the quarter ended July 31, 2012, CONN reported adjusted diluted earnings per share of $0.36, compared to $0.18 reported for the same period in the previous year.
CONN’s same store sales for the quarter rose 21.5%. The company reported total revenue of $207.4 million for the second quarter, up 10.9% over the same period in the previous year.
Theodore M. Wright, Chairman and CEO of Conn’s, said that improvements in the company’s retail operating performance continued in August, when the company experienced growth in same-store sales of 12% on top of a 6% increase last year.
Shares of Dollar General Corp. (NYSE: DG), a discount retailer, are climbing in early trading today.
At last check, DG shares were up 1.64% to $51.49 on volume of 2.36 million. The stock hit an intra-day high of $52 in trading today.
DG shares are gaining after the company reported its second-quarter financial results. For the second quarter ended August 3, 2012, DG reported a 5.1% increase in same-store sales. The company’s total sales for the quarter rose 10.4%.
DG reported a 10.9% increase in adjusted operating profit. Adjusted net income for the quarter rose 27%.
Rick Dreiling, Chairman and CEO of Dollar General, said that DG’s same-store sales increase of 5.1% for the second quarter demonstrates the ongoing execution of the initiatives around the company’s key operating priorities and is evidence of the company’s continued importance to its customers.
Shares of Francesca’s Holdings Corp. (NASDAQ: FRAN), a holding company operating a national chain of retail boutiques, are sinking in trading today.
At last check, FRAN shares were down 14.61% to $30.80 on above average volume of 4.13 million. The stock touched an intra-day low of $30.26 in trading today.
FRAN shares are sinking after the company reported its second-quarter financial results. For the second quarter, FRAN reported net income of $0.28 per share, compared to $0.13 per share reported for the same period in the previous year. The company’s second-quarter earnings beat consensus forecast of $0.24 per share.
For the third quarter, the company expects adjusted earnings to come in at $0.21 to $0.22 per share. For the full year, adjusted earnings are expected to be between $0.96 per share and $0.98 per share.
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