The U.S. package delivery giant FedEx (NYSE: FDX) reported better-than-expected fourth-quarter earnings results on Tuesday after the market close. While the company reported a loss of $334 million in its fiscal fourth quarter but its revenue surpassed the expectations as the Covid-19 pandemic continues to boost the online shopping.
After first words they are planning to raise duties up to 100% ($2.4 billion) on the champagne, handbags, cheese and other products.
The main reason for duties is new digital tax that harms U.S. tech companies. France said that is no chance that they will cancel the tax which raised their revenues by more than 25 million euros ($27.86 million). Tax raised revenues of government by 750 million euros ($830 million) worldwide.
The memory chip maker Micron Technology, Inc. (NASDAQ: MU) reported better-than-expected earnings for its third quarter of fiscal 2020 on Monday after the market close. The company revenue rose to $5.44 billion from $4.79 billion a year earlier.
Footwear giant Nike (NYSE: NKE) released its fourth-quarter earnings results on Thursday. The company reported a surprise loss of $790 million due to store closures across North America and other parts of the world. One bright spot was increasing digital sales; the sales increased 75%, representing about 30% of total revenue.
The software giant Oracle (NYSE: ORCL) announced fiscal fourth-quarter earnings after the market close on Tuesday. The $ORCL stock closed 5% lower on Wednesday as the company posted quarterly revenue below Wall Street estimates for its Q4.