Could this be the real reason why the stock price jumped this week?
Friday, December 11, 1998 06:35 PM
CHICAGO, Dec 11 (Reuters) - Federal Express, the world's
largest air express package carrier, said Friday it will hold a
global news conference next week on electronic commerce.
FedEx, a unit of Memphis, Tenn.-based FDX Corp., provided
no other details.
FDX shares rose sharply early in the week after Barron's, a
weekly business newspaper, described the company as perhaps the
"cheapest Internet stock in the market."
FedEx delivers some of the goods sold via electronic
commerce. But a spokesman said Monday that retail deliveries
were not a substantial portion of FedEx's Internet-related
business. Instead, businesses that have become accustomed to a
"just-in-time" inventory strategy are key to FedEx's Internet
strategy, the spokesman said Monday. |
