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Corporate Summary

•    Shares of FedEx Corporation (NYSE:FDX) jumped 5.2% after it announced cost-cutting measures and set a $1.7 billion “profitability improvement” target in the next three years

•    Alcoa, Inc. (NYSE:AA) reported a third quarter loss of $0.13 per share after close of markets on Tuesday and eventually the shares tumbled 4.6%. However, excluding one-time special items, the company reported earnings of $0.03, ahead of Zacks Consensus Estimate of break-even number

•    Costco Wholesale Corporation (NASDAQ:COST) reported fourth-quarter 2012 earnings of $1.39 per share, outpacing the Zacks Consensus Estimate of $1.30

•    Yum! Brands, Inc.’s (NYSE:YUM) shares jumped 8.0% after it posted third quarter 2012 adjusted earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.97

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