FedEx Stock Climbs on Freight Business Spinoff, Earnings

Shares of FedEx Corp (NYSE:FDX) opened the session at $294, but have pulled back from its highs slightly, last seen 4.6% higher at $288.64, fueled by a wave of significant developments during the bustling holiday shipping season. The shipping giant added $5 billion to its market cap after it announced the spinoff of its freight trucking business into a standalone company. This is a highly-anticipated move that analysts believe could create up to $20 billion in shareholder value. The news is helping FedEx st ...