FedEx: "extremely difficult conditions" ahead. AirTran surges, United, Allegiant, GOL and Hawaiian
FedEx (-1.4%) stock again lost following a weak report for the quarter to 31-May-09, with the company CFO anticipating another six months of difficult times. Meanwhile, AirTran (+5.3%), United (+4.2%), Allegiant (+4.3%), GOL (+4.0%) and Hawaiian (+4.0%) all performed well on the day, as did most airline stocks.
As valuable forward indicators of business activity, the small package and printing operations of FedEx are usually reliable, so the fact that results were worse than analysts expected did nothing to excite a cautious market this week. And the company's CFO expects manufacturing activity to be "substantially negative" over the summer.
North & South America selected airlines daily share price movements (% change): 17-Jun-09