Closing Bell: FedEx's Outlook Disappoints, Carnival Cruise Soars, Tesla Slides

On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Alix Steel, Carol Massar and Tim Stenovec.

- FedEx (FDX) forecast a worse-than-expected profit for the current quarter in a sign that soft demand from consumers and businesses rattled by tariffs is unlikely to improve in the near term. Adjusted earnings in its fiscal first quarter will be $3.40 to $4 a share, the company said Tuesday in a statement. The range fell below the $4.03 average of analyst estimates compiled by Bloomberg. Although it typically provides a full-year forecast, FedEx said it would only share its outlook for the current quarter due to the “uncertain global demand environment.” The forecast reflects FedEx’s current economic outlook and assumes no further negative developments in the global trade, economic and geopolitical environment, the company said.

- Carnival (CCL) shares jumped after it raised its full-year profit outlook as cruise demand has shrugged off the volatile economic and geopolitical backdrop.Its stock surged by as much as 10%, while peers Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings and Viking Holdings Ltd. also rose by more than 4.3%.Earnings will be around $1.97 per share this year, the company said in a statement Tuesday morning, up from its previous view of $1.83 per share. Analysts had expected $1.85 per share. The cruise operator also hiked its targets in March after a strong start saw impressive booking growth with record pricing.

- Tesla (TSLA) shares were lower today after investors learned its self-driving taxis were having some issues. Tesla Robotaxis appeared to violate traffic laws during the company’s first day offering paid rides, with one customer capturing footage of a left turn gone wrong and others traveling in cars that exceeded posted speed limits. The US National Highway Traffic Safety Administration is aware of the incidents and is in contact with the company to gather additional information, the agency said in a statement to Bloomberg.

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