Wall Street Journal Today...Not Good

[Goldilocks]

FedEx First-Quarter Earnings View Citing Weak Global Economy - WSJ.com

FedEx Corp. FDX -1.99% on Tuesday said a sharp decline in manufacturing activity would harm its profits, a sign of how declining Chinese output is ricocheting across economies around the world.

The world's largest air-cargo shipper by revenue said earnings in the August-ended quarter came in below its already reduced expectations. FedEx shares fell 3.1% to $84.85 in after-hours trading, with rival United Parcel Service Inc. UPS -2.39%down 1.9% at $72.31.

"It looks bad," said David Vernon, an analyst at Sanford C. Bernstein & Co. He said the global economy has decelerated faster than even FedEx anticipated.

FedEx is viewed as an economic bellwether, transporting everything from financial documents to pharmaceuticals to auto parts. Like UPS, FedEx has been hit by an overall slowdown in shipments and tougher competition from ocean freight as customers seek cheaper transport options.

Both FedEx and UPS have cut capacity out of Asia. The International Air Transport Association last week said members saw no signs of improvement in the global air freight market.

Associated Press FedEx said quarterly profit would be below its forecast range.



Related Reading

• MarketBeat: Warning Crystallizes Global Slowdown

Earlier

• FedEx Plans Buyouts for Some U.S. Staff 8/13/12
• FedEx CEO Predicts Industry Shift 6/19/12
• FedEx Accelerates Retirement of Aircraft 6/4/12

 

[bbsam]

Might want to re-think your "I'd never stoop to working for Ground" attitudes. That is if you want to keep working.

 

[bigbird00]

Better have a plan B in place couriers.

 

[DOWNTRODDEN IN TEXAS]

That's funny. They claim that China isn't shipping, but my route is a major electronics retailer and they blow me out of my truck every other day.

 

[Manager Wants Buyout]

Bad news. They knew it was coming and it will be wise to keep all options open.

 

[vantexan]

Might want to re-think your "I'd never stoop to working for Ground" attitudes. That is if you want to keep working.

I'd rather work 35 hrs at Express then 60 at Ground for the same money.

 

[UpstateNYUPSer(Ret)]

That's funny. They claim that China isn't shipping, but my route is a major electronics retailer and they blow me out of my truck every other day.

What you are delivering today was built 3-6 months ago.

 

[Manager Wants Buyout]

Bad news. They knew it was coming and it will be wise to keep all options open.

 

[MrFedEx]

This plays right into their doomsday scenario for Express.

 

[Lordtekk]

This plays right into their doomsday scenario for Express.

I know seems unusual like the dominos are falling into place so when they make their announcement the public will not see them in a lesser light.

 

[UpstateNYUPSer(Ret)]

I know seems unusual like the dominos are falling into place so when they make their announcement the public will not see them in a lesser light.

The numbers are from the first quarter---we are now in the third quarter.

 

[FedEx2000]

The numbers are from the first quarter---we are now in the third quarter.

Our 1st Quarter is June-August.......not on the same fiscal calendar as UPS.

 

[Lordtekk]

The numbers are from the first quarter---we are now in the third quarter.

Express Fiscal quarters start in June. It is June 2012 -to May 31st 2013. So it is the 1st quarter of the fiscal year.

 

[thedownhillEXPRESS]

Two thirds of the lowering is do to fuel costs, which FedEx will make up with surcharges, quote from cnbc today.
I'll try and provide a link later, but it goes to show the B.S. they are using to influence public opinion of Express..

 

[vantexan]

Might want to re-think your "I'd never stoop to working for Ground" attitudes. That is if you want to keep working.

I'd rather work 35 hrs at Express than 60 at Ground for the same money.

 

[bbsam]

I'd rather work 35 hrs at Express then 60 at Ground for the same money.

I will make sure I don't offer you a job then. Wouldn't want either of us to insult the other. By the way, when the day comes, how will you be eating your crow?

 

[check6ii]

Real smart to build a billion dollar super hub in China!!!!! Dumbasses

 

[vantexan]

I will make sure I don't offer you a job then. Wouldn't want either of us to insult the other. By the way, when the day comes, how will you be eating your crow?

Doesn't matter, I'll be retired, you'll still be chasing the pipe dream. And P.S. Why would an Express employee give up paid vacations, paid holidays, paid personal days, paid sick days, healthcare(such as it is), discounted travel, discounted Express shipping, working 35 hrs delivering small parcels and docs to deliver lots of bulk 50-60 hrs a week for approximately the same pay with no benefits?

 

[thedownhillEXPRESS]

Before the shill says I'm lying,here's the link.



CNBC Stock Market News — Despite Profit Cut, Pro Sees 39% Upside for FedEx — CNBC.com Stock Blog - CNBC

 

[bbsam]

Doesn't matter, I'll be retired, you'll still be chasing the pipe dream. And P.S. Why would an Express employee give up paid vacations, paid holidays, paid personal days, paid sick days, healthcare(such as it is), discounted travel, discounted Express shipping, working 35 hrs delivering small parcels and docs to deliver lots of bulk 50-60 hrs a week for approximately the same pay with no benefits?

Because if you haven't figured it out by now, your 35 hours could be gone in 6 months. Haven't you learned not to trust Fred by now? And I chase nothing. I live life fulfilled.