FedEx
FDX,
rival Deutsche Post
DPW,
on Monday said it will have to lift its earnings guidance for the full year, after preliminary results show its nine-month earnings before interest and tax of around 6.5 billion euros ($6.3 billion). Deutsche Post said it will lift its fiscal year EBIT forecast, of 8 billion euros plus or minus 5%, when it releases its full results on Nov. 8. After a decline in the first half, e-commerce driven business to consumer shipment volumes improved in the third quarter, it said. It also said the capacity situation in ocean and air freight markets has eased. Deutsche Post rallied 5% in Frankfurt, while FedEx was steady in premarket trade.
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