On July 9, FedEx rose 3.04% in regular trading, trading at $319.295/share, with turnover of $87.558 million. The gain was driven by the finalization of FedEx's deal to sell its supply chain business to CMA CGM Group at an enterprise value of $1.4 billion.

FedEx announced the divestiture of its supply chain unit to French shipping giant CMA CGM, with the transaction expected to close before year-end. As part of the agreement, both parties will sign multi-year air and sea freight cooperation agreements, with CMA CGM projecting approximately $3.5 billion in potential revenue from these partnerships over the next decade. CMA CGM will also become FedEx's designated ocean carrier. The deal enables FedEx to sharpen its focus on core express delivery operations while recovering cash to improve its balance sheet.

The broader Air Freight & Logistics sector showed strength, with Expeditors up 2.71%, GXO Logistics up 2.66%, C.H. Robinson up 2.25%, United Parcel Service up 2.19%, and ZTO Express up 1.36%.

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