We're adding to our position in a newly public stock that's still finding its footing

Breaking news from the markets: We are buying 100 shares of FedEx Freight at roughly $147. 03 Following the trade, Jim Cramer's Charitable Trust will own 250 shares of FDXF, increasing its weight in the portfolio to nearly 1% from 0. We're nibbling on shares of FedEx Freight following the stock's 7% pullback in reaction to earnings on Thursday night.

While the company's reported figures were solid, similar to former parent FedEx Corporation earlier in the week , there was a lot of noise and confusion in the results. Traditional financial statements were scarce because Freight operated inside FedEx Corporation in the reported quarter. Also, due to the change in its fiscal calendar, there was no easy way to compare management's issued guidance — covering its seven-month transition period from June through December — with historical performance and Wall Street expectations.

Economic Details

FedEx Freight's recast financials won't be released until August. When investors see noise and confusion in an earnings report, the first instinct is to sell and ask questions later. We saw that immediately play out with FedEx after it reported Tuesday night.

By the time investors asked whether the quarter was actually good, we were able to scoop up shares Wednesday morning at a lower price than where it trades currently. Can FedEx Freight's stock make the same quick comeback? We don't have a crystal ball when it comes to day-to-day trading, but over the long term, we believe that if management executes on its margin expansion goals and the broader trucking cycle continues to recover, Friday's sell-off will prove to be an overreaction.

It's also important to keep in mind that it often takes a few months for newly spun-out companies to find sturdier footing as the shareholder base turns over and selling pressure subsides. Some of this dynamic may also be playing out Friday. (Jim Cramer's Charitable Trust is long FDX and FXDF.

Analyst Views

See here for a full list of the stocks. ) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

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Financial markets are tracking the development closely as investors assess the likely impact.