News Formal

FedEx shares tumbles after company lowers full-year outlook

  • 📰 ABC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

FedEx shares tumbled after the delivery giant blamed slowing economic growth and trade tension for a disappointing quarter and cut its forecast of full-year earnings.

Shares were down $23.67, or 13.7%, to $149.63 in afternoon trading Wednesday. That's the stock's worst one-day percentage drop since the depths of the recession in 2008.

FedEx is hurt by a slowdown in international air shipping and higher costs in its ground-delivery business. The company said late Tuesday that profit fell 11% to $745 million in its fiscal first quarter, missing Wall Street expectations. It predicted full-year adjusted earnings of $11 to $13 per share, well below analysts' $14.68 prediction.

UBS analyst Thomas Wadewitz says pressure on FedEx profit margins is likely to increase and there's no relief in sight for high capital spending.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

They can also blame their over exorbitant pricing and failure to deliver on schedule consistently.

Or it could be that UPS is cheaper.

They are cutting back deliveries by Amazon. What would they expect to happen?

Nah Amazon is cutting ties with FedEx. That's the stock reaction. BuyUPS

Blamed Trump* (fixed it)

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 471. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Stocks making the biggest moves premarket: FedEx, Anheuser-Busch, Home Depot, Shopify & moreThese are the stocks posting the largest moves before the bell.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Here's what to expect from FedEx earningsFedEx is gearing up to report earnings after the bell Tuesday. Here's what to expect.
Källa: CNBC - 🏆 12. / 72 Läs mer »