FedEx Shares Climb 8% After Announcing Freight Spinoff Amid Mixed Financial Results

FedEx (FDX) stock surged in after-hours trading on Thursday following the company’s announcement of plans to spin off its Freight division into an independent entity. The separation process, set to begin immediately, is expected to conclude within 18 months. CEO Raj Subramaniam emphasized that the move aims to unlock substantial value for shareholders while allowing both entities to sharpen their focus and enhance competitiveness.
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