Wall St blames missteps at FedEx as parcel service fails to deliver

Raj Subramaniam’s credibility was on the line this week as the FedEx chief executive tried to project confidence that he could correct the US parcels group’s course after failing to deliver on the upbeat forecasts he made just three months ago. The company has long been seen as an economic bellwether, so when it previewed … Read more

Costco, FedEx, DocuSign and more

FedEx (FDX): The delivery company announced cost-cutting measures and rate hikes after warning in preliminary fiscal first-quarter results of weakening demand. FedEx released its fiscal first-quarter results in an 8-K before the close of trading Thursday, sending shares up 0.8%. The company outlined plans to save up to $2.7 billion in fiscal 2023 and up … Read more

Costco Stock Knocked Lower Ahead Of Quarterly Results; FedEx Warns, Shares Dive

Investors sent shares of FedEx (FDX) sharply lower Friday when the company pre-announced weak earnings and sales. CEO CEO Raj Subramaniam said he expects the economy to enter a “worldwide recession.” Wall Street will be hoping for a different tune from retail stocks like Costco (COST) and Darden Restaurants (DRI) ahead of upcoming earnings reports. … Read more

Industrial stocks end week at two-month low as inflation, FedEx weigh

An indicator of movements for industrial stocks on Friday fell for the fourth straight day to end the week at a two-month low. The Industrial Select Sector SPDR ETF (NYSEARCA:XLI), whose holdings consist of large-cap industrial companies, fell 6.4% from a week earlier to close at $89.21 a share. The closing price was the lowest … Read more

FedEx warning drives worst decline in stock, deepens slowdown fears By Reuters

© Reuters. FILE PHOTO: A FedEx delivery truck exits a facility in Brooklyn, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly By Medha Singh and Bansari Mayur Kamdar (Reuters) -FedEx Corp’s shares had their worst day ever and closed at the lowest price since early pandemic months, after the delivery heavyweight pulled its forecast, … Read more

Is FedEx Stock A Buy After It Gave Revised Guidance And Weaker-Than-Expected Earnings?

Late Thursday, FedEx (FDX) withdrew its full-year earnings guidance after announcing a surprise earnings decline for its fiscal first quarter. FedEx stock sank Friday to a two-year-plus low. Is FedEx stock a good buy right now? X For the answer, take a look at FedEx earnings and the FDX stock chart. Although FedEx was not … Read more

Earnings week ahead: FedEx, Costco, AutoZone, General Mills, Lennar, KB Home and more

Pgiam/iStock via Getty Images The pace of earnings releases starts to pick up steam as investors move deeper into September. A number of closely followed companies in retail, e-commerce, cannabis, homebuilding, transportation and leisure are all set to report next week. FedEx (NYSE:FDX) headlines the list of big-name firms announcing their results, although much of … Read more

FedEx warning sets stock for worst day, deepens slowdown fears

Breadcrumb Trail Links PMN Business Author of the article: Reuters Medha Singh and Bansari Mayur Kamdar Article content FedEx Corp’s shares tracked their worst day on Friday after the delivery heavyweight pulled its forecast, feeding into fears of a global demand slowdown while piling more pressure on its new chief executive for a quick turnaround. … Read more

FedEx Stock Tumbles After Delivering Terrible Earnings News

Text size FedEx disappointed investors Thursday with a surprise earnings miss. Benoit Doppagne/BELGA/AFP via Getty Images FedEx stock was tumbling after the company doubly disappointed investors Thursday announcing weak quarterly results earlier than expected while withdrawing its full-year financial guidance. The stock was down more the 12% in after-hours trading after FedEx (ticker: FDX) said … Read more

FedEx warns of worsening economy and pulls forecast; shares drop 16%

Breadcrumb Trail Links PMN Economy PMN Business Author of the article: Reuters Nathan Gomes and Lisa Baertlein Publishing date: Sep 15, 2022  •  45 minutes ago  •  3 minute read  •  Join the conversation Article content FedEx Corp on Thursday withdrew the financial forecast it issued just three months ago, saying a global demand slowdown accelerated … Read more