FedEx earnings: How the UPS labor fight may boost results

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FedEx (FDX) is set to report its fiscal first quarter earnings after the market close on Wednesday. Citi Research Global Head of Transportation Chris Wetherbee says he expects the shipping giant to report "decent" results given its "challenged" fiscal 2023. FedEx’s Express segment “needs the most help” according to Wetherbee, but their ground and freight have been "steady performers." FedEx will benefit this quarter, Wetherbee says, due to “a degree of market share” moving from UPS (UPS) during its negotiations with the Teamsters and Yellow's (YELLQ) bankruptcy.