FedEx Heads Toward Worst Drop Since 2008 Amid New Analyst Scorn

Discussion in 'The Latest FedEx Headlines' started by cheryl, Sep 18, 2019.

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  1. cheryl

    cheryl I started this. Staff Member

    FedEx Heads Toward Worst Drop Since 2008 Amid New Analyst Scorn - Yahoo

    FedEx Corp. Chief Executive Officer Fred S blamed the company’s disappointing outlook on a weakening global economy dragged down by President Trump’s trade war. Wall Street isn’t buying it.

    At least four analysts downgraded the shares, taking Smith to task what Deutsche Bank AG called a series of “missteps’’ in recent years. FedEx tumbled, with the shares heading for the biggest decline in a decade.

    The courier hasn’t moved fast enough to reduce capital expenditures and cut capacity at the air-shipping business, critics said. A $4.8 billion acquisition in Europe has turned into a money pit. And the courier is incurring extra costs to boost efficiency to handle the surge in e-commerce deliveries -- all while cutting longstanding ties with Amazon.com Inc.
     
  2. Jkloc420

    Jkloc420 Well-Known Member

    They blamed it on trade but it is because they did not renew the amazon contract, plus they suck