FedEx jumped 2.5% after the publication of its quarterly accounts. The American giant of deliveries achieved adjusted earnings per share of $5.01, compared to a consensus of $4.85. Revenues also slightly exceeded the consensus, which comforts operators. The group nevertheless warned that the Sino-US trade dispute and the end of its contract with the e-commerce giant Amazon (+ 1%) would weigh on its accounts for fiscal year 2020. In the quarter ended May In 2019, adjusted earnings reached $1.32 billion, up from $1.6 billion a year earlier. Revenues totaled $17.8 billion, up from $17.3 billion a year earlier.
BlackBerry (-8.8%), the fallen Canadian smartphone ‘star’, now active in software, managed to exceed the revenue consensus over the quarter ended, helped by the acquisition of cyber security group Cylance. Adjusted quarterly revenues thus improved by 23% to $267 million for fiscal Q1 closed at the end of May 2019, while the consensus of analysts was $265 million. The quarterly net loss remained relatively contained at $35 million or 9 cents per share, against $60 million a year earlier. Excluding items, adjusted earnings per share were positive by a small percentage, which is in line with expectations.
General Mills (-4.4%) corrects on Wall Street after the publication of the quarterly accounts. Profits beat the consensus of place, but sales came out a little short. For its fourth fiscal quarter of 2019, closed at the end of May, the group realized a net profit of 570 million dollars and 94 cents per share, against 354 million dollars and 59 cents per title a year before. Adjusted earnings per share were 83 cents versus a consensus of 77 cents. Revenues improved by 7% to 4.16 billion, but they lack the consensus of $4.24 billion. For the year 2020 just started, General Mills is planning organic growth of 1-2%.