Shares of industrial and transportation companies rose after strong earnings for one major freight firm.
FedEx shares rallied after the package-delivery giant posted fiscal third-quarter sales and earnings ahead of Wall Street targets. Sales modestly exceeded targets, with much of the performance gains deriving from cost cuts, including layoffs and facility closures.
Chrysler parent Stellantis is laying off about 400 employees in the U.S., mostly in its software and engineering divisions, the latest in a string of cutbacks by the automaker as it works to introduce its first electric vehicles in the U.S.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-22-24 1755ET
