FedEx's stock rises after $1 billion accelerated buyback program announced
FDXFedEx(FDX) Market Watch·2023-12-26 17:13

Shares of FedEx Corp. FDX, +0.27% climbed 0.5% in premarket trading Tuesday, after the package-delivery company announced a 1billionacceleratedsharerepurchaseprogram.TheASRagreementrepresentsabout1.61 billion accelerated share repurchase program. The ASR agreement represents about 1.6% of FedEx’s market capitalization of 61.98 billion as of Friday’s close. The company said the repurchases will be completed no later than Feb. 29. When the company reported fiscal second-quarter results last week, FedEx said it planned to buy back $1 billion worth of stock in 2024. FedEx’s stock ha ...