Stocks moving big after hours: FDX, FRC, MRK

A worker sorts packages at a FedEx Express facility on Cyber ​​Monday in Garden City, New York, U.S., Monday, Nov. 28, 2022.

Michael Nagle | Bloomberg | Getty Images

Find out which companies are making headlines in extended trading.

fedex — Shares of the parcel shipping company rose 9% after announcing lower profits in its fiscal third quarter and raising its profit forecast for the full year. FedEx reported adjusted earnings of $3.41 per share, beating analysts’ estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company’s revenue fell short of expectations. FedEx recorded revenue of $22.17 billion, while analysts had estimated it at $22.74 billion. Shares of United Parcel Service skipped 2% sympathy.

Bank of the First Republic — The bank’s shares were down 15% during after-hours trading. During the regular trading session, the stock reversed earlier losses and rebounded nearly 10% as a group of 11 banks, including Bank of America and Goldman Sachs, agreed to deposit $30 billion in the First Republic. Shares of Zions Bancorp And Key Corpwhich are among the regional banks facing a difficult week, fell more than 2%.

Merck – Shares of the pharmaceutical company fell nearly 2% in extended trading after Merck provided an update on a trial for one of its metastatic non-small cell lung cancer drugs. The results did not reach “statistical significance”, and Merck said patients in this arm of the study “should be transitioned to standard of care”.

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