Stocks to Watch: FedEx, Kezar Life Sciences, Transcat
September 20 2023 - 7:30PM
Dow Jones News
By Ben Glickman
FedEx said fiscal first-quarter profit rose from a year earlier
and topped analysts' estimates. The shipping company's ongoing
cost-cutting measures boosted margins, even as demand slipped.
Shares rise 5.5% to $264.28 after hours.
Kezar Life Sciences agreed to allow Everest Medicines, a
biopharmaceutical company, to develop and commercialize
zetomipzomib in Greater China, South Korea and Southeast Asia.
Under the agreement, Kezar may receive up to $132.5 million in
total payments, plus tiered royalties. Shares rise 16% to $1.32
after hours.
Transcat said it would launch a public offering of its common
stock. The industrial instruments maker didn't say how many shares
it would sell, but noted it would use the proceeds to repay its
credit facility, for working capital and for general corporate
purposes. Shares sink 8.4% to $99.50 after hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
September 20, 2023 20:15 ET (00:15 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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