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FedEx Falls After Lowering 2013 Forecast Amid Asia Cuts
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<blockquote data-quote="cheryl" data-source="post: 1109395" data-attributes="member: 1"><p><a href="http://www.bloomberg.com/news/2013-03-20/fedex-cuts-2013-forecast-on-shift-to-cheaper-shipments.html" target="_blank"><strong>FedEx Falls After Lowering 2013 Forecast Amid Asia Cuts - Bloomberg</strong></a></p><p></p><p>FedEx Corp. (FDX) tumbled the most since September 2011 after lowering its 2013 earnings forecast and planning capacity cuts in Asia amid a widening customer shift to its cheaper overseas delivery services.</p><p></p><p>Profit in the fiscal year through May will be $6 to $6.20 a share, down from an earlier projection of as much as $6.60, the Memphis, Tennessee-based company said in a statement today. The forecast and fiscal third-quarter profit both trailed analysts’ estimates.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1109395, member: 1"] [URL="http://www.bloomberg.com/news/2013-03-20/fedex-cuts-2013-forecast-on-shift-to-cheaper-shipments.html"][B]FedEx Falls After Lowering 2013 Forecast Amid Asia Cuts - Bloomberg[/B][/URL] FedEx Corp. (FDX) tumbled the most since September 2011 after lowering its 2013 earnings forecast and planning capacity cuts in Asia amid a widening customer shift to its cheaper overseas delivery services. Profit in the fiscal year through May will be $6 to $6.20 a share, down from an earlier projection of as much as $6.60, the Memphis, Tennessee-based company said in a statement today. The forecast and fiscal third-quarter profit both trailed analysts’ estimates. [/QUOTE]
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