Stocks move heavily after hours: FDX, FRC, MRK

A worker sorts packages at a FedEx Express facility on Monday, November 28, 2022, Cyber ​​Monday in Garden City, New York, United States.

Michael Nagel | Bloomberg | Getty Images

Check out the companies making headlines in extended trading.

FedEx — Shares of the parcel delivery company rose 9% after it reported a decline in earnings in the fiscal third quarter and raised its full-year earnings guidance. FedEx reported adjusted earnings of $3.41 per share, according to Refinitiv, beating analysts’ estimate of $2.73 per share. Meanwhile, the company’s earnings fell short of expectations. FedEx posted revenue of $22.17 billion while analysts had put it at $22.74 billion. shares of United Parcel Service popped 2% in sympathy.

Bank of the First Republic — The bank’s shares fell 15% during after-hours trading. During the regular trading session, the stock recouped earlier losses and surged nearly 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to inject $30 billion into First Republic. shares of Zion Bancorp And KeyCorpwhich are among the regional banks facing a tough week fell more than 2%.

note — Shares of the pharmaceutical company fell nearly 2% in extended trading afterwards Merck has provided an update on a study for one of its drugs for metastatic non-small cell lung cancer. The results did not reach “statistical significance,” and Merck said patients in this arm of the study “should be switched to standard of care.” Stocks move heavily after hours: FDX, FRC, MRK

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