FedEx falls as analyst cuts stock on demand woes - Yahoo
Shares of FedEx Corp. fell Monday as the broader markets lost ground and an analyst said the company's aggressive cost cuts might not be enough to offset the steep decline in volumes and the expected rise in fuel prices.
Stifel Nicolaus analyst David Ross cut the stock to "hold," saying it won't likely rise enough in the next several quarters to justify his previous "buy" rating.
Shares of FedEx Corp. fell Monday as the broader markets lost ground and an analyst said the company's aggressive cost cuts might not be enough to offset the steep decline in volumes and the expected rise in fuel prices.
Stifel Nicolaus analyst David Ross cut the stock to "hold," saying it won't likely rise enough in the next several quarters to justify his previous "buy" rating.
