Stocks to Watch: FedEx, Steelcase, KULR Technology
20 December 2023 - 11:13AM
Dow Jones News
By Ben Glickman
FedEx slashed its full-year outlook for revenue after top- and
bottom-line results missed analysts' estimates in the fiscal second
quarter. The company has continued to see weaker shipping demand
but raised profits in the period because of ongoing cost-cutting.
Shares fall 9.1% to $254.50 after-hours.
Steelcase's sales fell 6% in the fiscal third quarter, more than
expected by analysts. The furniture company forecast a revenue drop
of 1% to 5% in the fourth quarter because of a lower order backlog
as of the end of previous period. Shares fall 8.4% to $11.63
after-hours.
KULR Technology announced an underwritten public offering, but
didn't say how many shares it would sell. The company plans to use
proceeds for paying off credit facilities. Shares fall 16% to 25
cents after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 19, 2023 18:58 ET (23:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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