On this episode of Stock Movers:
- Fedex (FDX) expects a $1 billion hit from trade volatility this year due to President Donald Trump’s tariffs and the loss of a key exemption for low-value goods. The company reinstated its financial guidance, saying revenue will grow by 4% to 6% in the current fiscal year, and expects adjusted earnings in the 2026 fiscal year will be $17.20 to $19 a share. FedEx is working on internal initiatives to cut costs, including merging its air and ground networks, and expects its efforts to create $1 billion in permanent cost reductions. - Oklo (OKLO) rose 15%. Trading volume was quadruple the average for this time of day. The shares increased to $121.04 from $104.97. The stock was the best performer among its peers. The S&P 500 Index rose 0.2%.
- Netskope (NTSK) jumped 18% in its trading debut, after the cybersecurity firm raised $908.2 million in an initial public offering. The company’s cloud-native Netskope One platform incorporates artificial intelligence models to help companies protect customers from threats and keep sensitive data secure, according to the filings.