FedEx results top targets on cost-cutting, shares jump

By Abhinav Parmar and Lisa Baertlein (Reuters) - FedEx (FDX) reported quarterly profit and revenue above Wall Street estimates, as cost-cutting and strength in domestic deliveries helped offset weaker international volumes after the U.S. ended tariff exemptions on low-value, direct-to-consumer shipments. Shares of Memphis-based FedEx climbed 5% in premarket trading on Friday after surprising Wall Street. Analysts had expected profit per share to fall due to the end of "de minimis" exemptions, which allow ...