FedEx Corp. (NYSE: FDX) shares were up slightly on Monday after the company announced that it would raise shipping rates to kick off 2019. The rate increases apply to all its subsidiaries, FedEx Express, FedEx Ground and FedEx Freight, and will be effective January 7, 2019.
FedEx Express shipping rates will increase by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services.
FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%. FedEx SmartPost shipping rates also will increase.
FedEx Freight shipping rates will increase by an average of 5.9%. This rate change applies to eligible FedEx Freight shipments within the United States (including Alaska, Hawaii, Puerto Rico and the U.S. Virgin Islands), between the contiguous United States and Canada, within Canada, between the contiguous United States and Mexico, and within Mexico.
Over the past 52 weeks, FedEx stock has underperformed the broad markets, with shares down 1.6% in this time. In just 2018 alone, the stock is down over 11%.
Shares of FedEx were last seen up less than 1% at $223.28, with a consensus analyst price target of $287.96. The 52-week trading range is $207.90 to $274.66.
24/7 Wall St.The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
