FedEx profit beats Street, updating Boeing fleet

(Reuters) – FedEx Corp reported a higher-than-expected quarterly profit and is updating its fleet with 27 new fuel-efficient Boeing aircraft to cut costs, driving its shares up as much as 5 percent. The company also said it is deferring delivery of some Boeing freighter aircraft, adjusting for slowing volume out of Asia. FedEx expects continued moderate economic growth, with trade flows staying …

More: continued here