FedEx to hike cost of shipping in 2016

FedEx Inc. said late Tuesday it plans to hike its shipping rates at the start of 2016. Effective Jan. 4, the company said shipping rates for FedEx Express, FedEx Ground, FedEx Home Delivery, and FedEx Freight will rise an average 4.9%. FedEx also said it was increasing the surcharge on packages that exceed maximum dimensions effective Nov. 2. FedEx shares rose 0.2% to $154.36 in the extended session.

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Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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