Market News

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.

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.

The e-commerce company Groupon (NASDAQ: GRPN) released its first-quarter 2020 results on Tuesday after market close. The company reported revenues of $374.15 million for the last quarter which is 35% lower than the $578.41 million reported during the same period of the year prior. While the results surpassed Wall Street expectations.