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FedEx Gains, Super Micro Plunges, Swarmer Surges After IPO
Description
On this episode of Stock Movers:
- FedEx (FDX) shares rose after it raised its full-year profit forecast, sending the courier’s shares up the most in almost a year and signaling the plan to restructure its delivery network is gaining traction despite economic volatility.
- Super Micro Computer (SMCI) shares plummeted, after three individuals associated with the server maker were indicted by the US Attorney’s Office for allegedly conspiring to commit export-control violations.
- Swarmer (SWMR) shares soared nearly 1,000% in the first three trading sessions after its initial public offering, reflecting how the war in Iran has reshaped the outlook for the defense industry. The rally is attributed to the growing importance of drones in warfare, with military experts concluding that small drones are likely the best defense against drone attacks, and investors reassessing how they value defense companies.
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