FedEx Corporation (FDX - Free Report) has completed its previously announced acquisition of ShopRunner, a Chicago-based e-commerce platform connecting online shoppers with their favorite merchants and brands.
With FedEx gaining significantly from the surge in e-commerce demand amid the coronavirus pandemic, the ShopRunner acquisition provides a further boost to the company’s e-commerce offerings. The buoyant scenario is evident from the company’s second-quarter fiscal 2021 results. FedEx’s earnings (excluding 28 cents from non-recurring items) of $4.83 per share not only beat the Zacks Consensus Estimate of $3.90 but also surged 92.4% year over year owing to increased volumes at FedEx International Priority and U.S. domestic residential package services. Quarterly revenues of $20,563 million also outperformed the Zacks Consensus Estimate of $19,326.7 million and increased 18.7% year over year.
Following the acquisition, ShopRunner is now a subsidiary of FedEx Services, which refers to an organization dedicated to integrating the technology and services needed by customers to create solutions for global supply chains, e-commerce and other issues.
ShopRunner will operate as part of FedEx Dataworks, a new organization within FedEx Services aimed at enhancing digital and physical customer experience. The acquisition enhances online shopping experience of customers by integrating ShopRunner’s pre-purchase offerings and FedEx’s post-purchase logistics intelligence.
Zacks Rank & Other Key Picks
FedEx sports a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks in the broader Transportation sector are ArcBest Corporation (ARCB - Free Report) , Ryder System, Inc. (R - Free Report) and Herc Holdings Inc. (HRI - Free Report) , each carrying the same Zacks Rank as FedEx. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest, Ryder and Herc Holdings have gained more than 59%, 17% and 34% in a year’s time, respectively.
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Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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FedEx Corporation (FDX - Free Report) has completed its previously announced acquisition of ShopRunner, a Chicago-based e-commerce platform connecting online shoppers with their favorite merchants and brands.
With FedEx gaining significantly from the surge in e-commerce demand amid the coronavirus pandemic, the ShopRunner acquisition provides a further boost to the company’s e-commerce offerings. The buoyant scenario is evident from the company’s second-quarter fiscal 2021 results. FedEx’s earnings (excluding 28 cents from non-recurring items) of $4.83 per share not only beat the Zacks Consensus Estimate of $3.90 but also surged 92.4% year over year owing to increased volumes at FedEx International Priority and U.S. domestic residential package services. Quarterly revenues of $20,563 million also outperformed the Zacks Consensus Estimate of $19,326.7 million and increased 18.7% year over year.
Following the acquisition, ShopRunner is now a subsidiary of FedEx Services, which refers to an organization dedicated to integrating the technology and services needed by customers to create solutions for global supply chains, e-commerce and other issues.
ShopRunner will operate as part of FedEx Dataworks, a new organization within FedEx Services aimed at enhancing digital and physical customer experience. The acquisition enhances online shopping experience of customers by integrating ShopRunner’s pre-purchase offerings and FedEx’s post-purchase logistics intelligence.
Zacks Rank & Other Key Picks
FedEx sports a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks in the broader Transportation sector are ArcBest Corporation (ARCB - Free Report) , Ryder System, Inc. (R - Free Report) and Herc Holdings Inc. (HRI - Free Report) , each carrying the same Zacks Rank as FedEx. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest, Ryder and Herc Holdings have gained more than 59%, 17% and 34% in a year’s time, respectively.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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