FedEx Plunges Most Since 2008 - Bloomberg
FedEx Corp. (FDX), operator of the world’s biggest cargo airline, had its biggest drop since December 2008 after cutting its full-year profit forecast amid declining demand in the U.S. and Asia.
Per-share earnings for the year will be $6.25 to $6.75, 10 cents lower than the previous range, the Memphis, Tennessee- based company said today in a statement. Analysts had projected $6.35, the average of estimates in a Bloomberg survey.
FedEx Corp. (FDX), operator of the world’s biggest cargo airline, had its biggest drop since December 2008 after cutting its full-year profit forecast amid declining demand in the U.S. and Asia.
Per-share earnings for the year will be $6.25 to $6.75, 10 cents lower than the previous range, the Memphis, Tennessee- based company said today in a statement. Analysts had projected $6.35, the average of estimates in a Bloomberg survey.
