Why FedEx Shares Soared Higher in August

Shares of FedEx delivered for investors in August, gaining 30.5%, according to data provided by S&P Global Market Intelligence. FedEx spent most of 2019 in investment mode, hoping to see the payoff from increasing warehouse capacity and automating its internal systems in 2020. A late-June quarterly earnings report relieved much of that uncertainty, as FedEx posted results that indicated the flood of additional e-commerce business is offsetting lost revenue due to the pandemic cutting supply chains and reducing industrial activity.