FedEx Stock: Price-Target Cuts Roll In After Big Earnings Miss
FedEx stock is plunging Friday after the logistics giant came up short of earnings expectations and revised its full-year outlook. Here's what you need to know.
FedEx shares tumble 16% on limp demand, delivery trade-down
FedEx Corp shares slumped on Friday after the parcel giant cut its annual revenue forecast and reported a sharp fall in profits, owing to weak demand for high-margin speedy delivery services.
FedEx’s earnings miss may be more of a speed bump than a brick wall, analyst says
Analysts see a potential spinoff of FedEx’s freight business as a possible boost, but the stock is dropping sharply
FedEx earnings miss could signal a slowing economy
FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.
FedEx Shares Tumble Over 15% on Limp Demand, Delivery Trade-Down
FedEx, seen as a global trade barometer, lost over $11 billion in market value. Its earnings report dragged down shares in rivals United Parcel Service and DHL, which are also grappling with sluggish demand and an overhead cost hangover from the early pandemic's ecommerce boom.
FedEx Makes Notable Cross Below Critical Moving Average
In trading on Friday, shares of FedEx crossed below their 200 day moving average of $267.52, changing hands as low as $255.40 per share.
Fedex stock plummets after earnings miss, lower outlook flashes warning on economy
The company also lowered its financial outlook for the fiscal year ahead, projecting earnings per share between $20 and $21 versus its prior range of $20 to $22. That sent shares tumbling nearly 15%.
FedEx quarterly profit disappoints as demand for speedy delivery wanes
FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options.
FedEx Stock Dips: Another Reason to Fear Recession Is Near
FedEx Corporation (NYSE: FDX) is a solid business, but its latest results give another reason to fear that a recession is near. The company underperformed in all metrics, contracting versus an expectation to grow and reducing guidance in what may be the first of several reductions this year.
FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Analysts expect the company to report quarterly earnings at $4.83 per share, up from $4.55 per share in the year-ago period.
FedEx sends a shiver throughout the transportation and logistics sectors with soft guidance
FedEx (FDX) shares plummeted after disappointing guidance, prompting downgrades from Morgan Stanley and Wells Fargo.
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New Jersey FedEx driver tied up, robbed of packages at gunpoint
A New Jersey FedEx driver was tied up and robbed at gunpoint by three men with a box truck waiting to haul off the packages they stole from him. The 35-year-old delivery worker was swapping ...
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Police turn FedEx hub into cash harvesting center
The Chengs sent the retailer a FedEx label, which showed the parcel was scheduled to go from Virginia to California, and the retailer used the label to mail the payment. But the parcel was ...
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Scottie Scheffler wins the FedEx Cup and $25 million bonus with victory at the Tour Championship
Scottie Scheffler wins the FedEx Cup and $25 million bonus with victory at the Tour Championship ATLANTA -- Scottie Scheffler wins the FedEx Cup and $25 million bonus with victory at the Tour ...
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2024 FedEx Cup standings, schedule, leaderboard, prize money, purse for Tour Championship, FedEx Cup Playoffs
This provides the opportunity for golfers to go on a hot streak and rocket up the FedEx Cup standings like Hideki Matsuyama and Keegan Bradley did over the first two weeks. The top 50 in the ...