FedEx slashes FY09 outlook, shares fall 11 pct - Reuters
FedEx Corp said on Monday it expects to report a better-than-expected second-quarter profit, but slashed its fiscal 2009 outlook as a weakening U.S. economy offsets lower fuel prices, sending its shares down more than 11 percent in after-market trading.
The package delivery company's earnings warning came minutes after trucking and logistics company Con-way Inc cut its full-year 2008 earnings outlook.
FedEx Corp said on Monday it expects to report a better-than-expected second-quarter profit, but slashed its fiscal 2009 outlook as a weakening U.S. economy offsets lower fuel prices, sending its shares down more than 11 percent in after-market trading.
The package delivery company's earnings warning came minutes after trucking and logistics company Con-way Inc cut its full-year 2008 earnings outlook.
