Fedex stock plummets after earnings miss, lower outlook flashes warning on economy [Yahoo! Finance]
FedEx Corporation (FDX)
Last fedex corporation earnings: 3/17 04:03 pm
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Source: Yahoo! Finance
The quarterly results came a day after the Federal Reserve made a historically large reduction to interest rates but said the US economy remained strong. FedEx's outlook runs in contrast to that read. “The magnitude of the Fed rate cuts yesterday signals the weakness of the current environment,” Fedex CEO Raj Subramanian told analysts in a call Thursday afternoon. FedEx Corporation (FDX) Investors seemed to sway toward Subramanian's reading of the rate cuts Friday morning, or, at the very least, their initial euphoria faded. After reaching record highs the day before, the S&P 500 ( ^GSPC ) sank 0.43%. The Dow ( ^DJI ) fell 0.38%, and the Nasdaq ( ^IXIC) dropped 0.44%. FedEx executives said inflation-squeezed customers shifted away from paying higher fees for its priority shipping. Subramanian blamed a “weaker industrial economy” for waning demand for its B2B services, or shipments between businesses and manufacturers. And FedEx is ending its contract with the US Postal Servic
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FDX
News
- FedEx Q1 Earnings & Revenues Lag Estimates, View Down [Yahoo! Finance]Yahoo! Finance
- FedEx Co. (NYSE: FDX) had its price target lowered by analysts at BMO Capital Markets from $325.00 to $300.00. They now have a "market perform" rating on the stock.MarketBeat
- FedEx Co. (NYSE: FDX) had its "overweight" rating re-affirmed by analysts at Stephens. They now have a $350.00 price target on the stock.MarketBeat
- FedEx Co. (NYSE: FDX) had its price target lowered by analysts at Stifel Nicolaus from $327.00 to $321.00. They now have a "buy" rating on the stock.MarketBeat
- FedEx Co. (NYSE: FDX) had its price target lowered by analysts at Susquehanna from $345.00 to $330.00. They now have a "positive" rating on the stock.MarketBeat
FDX
Earnings
- 9/19/24 - Miss
FDX
Sec Filings
- 9/19/24 - Form 10-Q
- 9/19/24 - Form 8-K
- 9/3/24 - Form 8-K
- FDX's page on the SEC website