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FedEx Slashes Profit Forecast, Share Price Slides 9%

Video Credit: Wochit Business - Duration: 00:36s - Published
FedEx Slashes Profit Forecast, Share Price Slides 9%

FedEx Slashes Profit Forecast, Share Price Slides 9%

Markets Insider reports FedEx shares plunged as much as 9% in after-hours trading on Tuesday.

The company missed earnings expectations for the fiscal first quarter and lowered its profit guidance for 2020.

FedEx CEO Frederick Smith said a "weakening global macro environment driven by increasing trade tensions" was hurting business.

FedEx expects its full-year earnings per share to fall between $11 and $13, well below analyst estimates of $14.73.


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