Stock movers outside office hours:
FedEx (NYSE:) rose 15% after beating fourth-quarter earnings estimates. Management said they expect the recent momentum to continue into fiscal 2025, and the shipping giant issued stronger-than-expected guidance for the year.
- Shares of rival UPS (UPS) traded higher in likeability.
Rivian (NASDAQ:) Automotive (RIVN) rose 46% after Volkswagen and Volkswagen entered into a joint venture to create next-generation software-defined vehicle platforms that could be used in both companies’ future electric vehicles. Volkswagen Group will initially invest $1 billion in Rivian, with up to $4 billion in additional investments planned for a total expected deal size of $5 billion.
- Rivian colleague Clear group (NASDAQ:) shares were higher after VW’s announcement.
Technoglass (NYSE:) rose 12% after announcing that its Board of Directors is exploring strategic alternatives.
