FedEx Shares Hit First Record Since 2021 on Cost-Cutting Plans

FedEx Corp. shares closed at a record high, putting them on track for a six-month rally amid growing confidence in the company’s cost-cutting efforts and a resilient economic backdrop that’s expected to favor the transportation sector.

The stock rose 1.7% on Thursday to close at $319.93, eclipsing the previous all-time peak set in 2021. The shares set an intraday record as well.

FedEx is up almost 11% in January and have advanced about 60% since the depths of last year’s tariff-fueled chaos. The catalyst in recent weeks has come from management’s optimistic outlookand a quarterly report that suggested the ...