FedEx Corp. has increased its fiscal first quarter expectation by 21 percent with the improving domestic and global economies, boosting the demand for truck and air shipments.

The shares of U. S. package shipper increased by $3.70 or 4.7 percent to $82.66 in pre-opening trading.

The company has increased the earnings per share expectation from $4.40 to $5, to $4.60 to $5.20 for the fiscal year ending in May.

The company has generated $3.76 per share in the fiscal year 2009.

FedEx showed more than expected performance through its timely international delivery service.

There has been increase in the exports of electronic goods and components and textiles from Asia to North America and Europe.

According to the company, its International Priority segment is expected to wide further by more than 20 percent within three months ending on Aug. 31.

The International Air Transport Association stated that air cargo market has regained but the market is growing at slow pace.

Chief Financial Officer Alan B. Graf Jr. said, "Our revenue and earnings growth are exceeding original expectations, primarily due to better-than-anticipated growth in FedEx Express and FedEx Ground volumes."