In retrospect, that created a buying opportunity, as suggested by The Street on June 17. Late Tuesday morning, FedEx shares were trading at $85.49. By comparison, the S&P 500 Index opened at 1,114 on June 16 and trades today at 1,122.
For the year, FedEx shares are up only slightly from a 2010 opening price of $84.21. Shares in UPS traded shortly before noon Tuesday at $67.72, up from a 2010 opening price of $58.18. The S&P Index is flat for the year.
-- Written by Ted Reed in Charlotte, N.C.