Dow posts third straight day with triple-digit gain

NEW YORK -The Dow Jones industrial average gained more than 100 points for the third straight day Monday.

The Dow rose 100.81, or 1 percent, to 10,525.43.

The Samp&P 500 index rose 12.35, or 1.1 percent, to 1,115.01. Analysts said stocks were helped Monday by the fact that Samp&P 500 stayed above 1,100, an important psychological level. When the index didn't give back its gains, more investors were encouraged to buy.

The Nasdaq composite index rose 26.96, or 1.2 percent, to 2,296.43.

Gold futures edged down to finish at $1,183.10 an ounce, while crude-oil futures ended flat at $78.98 a barrel on the New York Mercantile Exchange.

Tennessee

FedEx boosts forecast for current quarter, year

MEMPHIS - The world's second-largest package delivery company said an overall boom in air and truck shipments is being driven by its speedy international priority service, where it ships high value goods like computers, iPhones and e-readers. Shipments are particularly strong out of Asia. Besides gadgets, the company's next largest international priority segments are electrical components like disk drives and flash memory, vehicle components, high-end luxury goods and drugs and medical supplies.

The company expects to earn between $1.05 and $1.25 per share for its first fiscal quarter that will end Aug. 31, up from 58 cents a share a year ago. The forecast is up from its previous guidance of 85 cents to $1.05 per diluted share. Analysts polled by Thomson Reuters, on average, expected earnings of $1.01 a share.

For the full fiscal year ending in May 2011, FedEx expects earnings per share of $4.60 to $5.20, up from its earlier guidance of $4.40 to $5 a share, reflecting the current market outlook for fuel prices and a continued moderate recovery in the global economy. Analysts expected earnings of $4.98 per share.

Wire reports