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FedEx (FDX) Begins Distributing Moderna Vaccines Across U.S.
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FedEx Corporation (FDX - Free Report) has begun the shipment of Moderna’s COVID-19 vaccines throughout the United States.
Following the Food and Drug Administration’s approval of emergency use for the Moderna vaccine on Friday, FedEx started transporting the vaccine and kits of supplies for its administration on Sunday, through its Express division. The company is using FedEx Priority Overnight, supported by FedEx Priority Alert advanced monitoring, for this purpose.
Earlier this month, FedEx began distributing Pfizer-BioNTech vaccines across the United States. These vaccines too were shipped via FedEx Express. The company will begin vaccine shipments throughout Canada next week. Further, the company is preparing to start delivering vaccines to other countries.
On a separate note, let’s take a look at the company’s recently released earnings report. FedEx’s earnings (excluding 28 cents from non-recurring items) of $4.83 per share in the second quarter of fiscal 2021 beat the Zacks Consensus Estimate of $3.90. Moreover, the bottom line surged 92.4% year over year, driven by increased volumes at FedEx International Priority and U.S. domestic residential package services, as well as pricing initiatives across all transportation segments.
Quarterly revenues of $20,563 million outperformed the Zacks Consensus Estimate of $19,326.7 million and increased 18.7% year over year, primarily owing to increased demand for e-commerce as coronavirus restricts people to their homes.
Shares of Landstar, UPS and GATX have gained more than 22%, 63% and 34% in the last six months, respectively.
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FedEx (FDX) Begins Distributing Moderna Vaccines Across U.S.
FedEx Corporation (FDX - Free Report) has begun the shipment of Moderna’s COVID-19 vaccines throughout the United States.
Following the Food and Drug Administration’s approval of emergency use for the Moderna vaccine on Friday, FedEx started transporting the vaccine and kits of supplies for its administration on Sunday, through its Express division. The company is using FedEx Priority Overnight, supported by FedEx Priority Alert advanced monitoring, for this purpose.
Earlier this month, FedEx began distributing Pfizer-BioNTech vaccines across the United States. These vaccines too were shipped via FedEx Express. The company will begin vaccine shipments throughout Canada next week. Further, the company is preparing to start delivering vaccines to other countries.
FedEx Corporation Price
FedEx Corporation price | FedEx Corporation Quote
On a separate note, let’s take a look at the company’s recently released earnings report. FedEx’s earnings (excluding 28 cents from non-recurring items) of $4.83 per share in the second quarter of fiscal 2021 beat the Zacks Consensus Estimate of $3.90. Moreover, the bottom line surged 92.4% year over year, driven by increased volumes at FedEx International Priority and U.S. domestic residential package services, as well as pricing initiatives across all transportation segments.
Quarterly revenues of $20,563 million outperformed the Zacks Consensus Estimate of $19,326.7 million and increased 18.7% year over year, primarily owing to increased demand for e-commerce as coronavirus restricts people to their homes.
Zacks Rank & Key Picks
FedEx carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Landstar System, Inc. (LSTR - Free Report) , United Parcel Service, Inc. (UPS - Free Report) and GATX Corporation (GATX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Landstar, UPS and GATX have gained more than 22%, 63% and 34% in the last six months, respectively.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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