Reported 18 days ago
FedEx's stock dropped almost 15% following a disappointing earnings report that showed profits significantly below analysts' expectations, raising concerns about the strength of the US economy. The company also lowered its projected earnings for the upcoming fiscal year, contrasting its outlook with recent Federal Reserve rate cuts. CEO Raj Subramaniam cited inflation's impact on customer behavior and a weakening industrial economy as key factors behind the company's struggles.
Source: YAHOO