{"id":23243,"date":"2012-03-22T14:40:00","date_gmt":"2012-03-22T14:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/fedex-shares-slide-on-global-economic-view-fdx\/23239\/"},"modified":"2012-03-22T14:40:00","modified_gmt":"2012-03-22T14:40:00","slug":"fedex-shares-slide-on-global-economic-view-fdx","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/fedex-shares-slide-on-global-economic-view-fdx\/23243\/","title":{"rendered":"FedEx Shares Slide on Global Economic View (FDX)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2011\/06\/62.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-9933\" title=\"FedEx\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2011\/06\/62-150x149.jpg\" alt=\"FedEx\" width=\"150\" height=\"149\"><\/a>FedEx Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: FDX), a provider of portfolio of transportation, e-commerce and business services under the FedEx brand, reported strong third-quarter financial results. However, the company lowered its outlook for the rest of the year due to weak economic growth, sending shares down sharply.<\/p>\n<p><span id=\"more-23243\"><\/span><\/p>\n<p>FedEx shares fell to an intra-day low of $91.26, and at last check, the stock was trading 4.06% lower at $91.93 on above average volume of 4.57 million.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>For the third quarter ended February 29, FedEx reported net earnings of $521 million, or $1.65 per share, compared with net earnings of $231 million, or $0.73 per share. Excluding one-time items, the company\u2019s earnings rose to $1.55 per share from $0.81 per share. Analysts were expecting FedEx to report earnings of $1.35 per share.<\/p>\n<p>Revenue for the quarter rose 9% to $10.56 billion, slightly below Street estimates of $10.6 billion.<\/p>\n<p>For the fourth quarter, FedEx expects profit to come in between $1.75 per share and $2 per share, compared with Street estimates of $1.98 per share.<\/p>\n<p>Alan Graf, CFO of FedEx, said that the fourth quarter is still very good, but what the company is seeing at the moment is that the economy is not as strong as expected. Graf also said that the economic environment and the elasticity FedEx is seeing in its premium services due to high fuel costs are dampening momentum a bit.<\/p>\n<p>FedEx also said that more expensive fuel was prompting customers to choose to ship goods by truck rather than air to save money.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/southwest-airlines-raises-fares-luv\/23478\"><br \/>\nSouthwest Airlines Raises Fares (LUV)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-sharply-higher-on-bernanke-comments\/23470\"><br \/>\nStocks End Sharply Higher on Bernanke Comments<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/actuate-corporation-birt-strategic-alliance-with-megazone\/23440\"><br \/>\nActuate Corporation &#8211; BIRT &#8211; Strategic alliance with Megazone<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/bg-medicine-bgmd-new-galectin-3-findings\/23436\"><br \/>\nBG Medicine &#8211; BGMD &#8211; New Galectin-3 Findings<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/angiodynamics-ango-strategic-relationship-with-privately-held-microsulis-medical-ltd\/23430\"><br \/>\nAngioDynamics &#8211; ANGO &#8211; Strategic relationship with privately-held Microsulis Medical Ltd.<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/medtronic-mdt-symplicity-renal-denervation-system-provides-safe-significant-and-sustained-blood-pressure-reduction\/23428\"><br \/>\nMedtronic &#8211; MDT &#8211; Symplicity\u2122 renal denervation system provides safe, significant and sustained blood pressure reduction<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cal-maine-foods-calm-well-positioned-for-another-successful-year\/23426\"><br \/>\nCal-Maine Foods &#8211; CALM &#8211; Well positioned for another successful year<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>FedEx Corporation (NYSE: FDX), a provider of portfolio of transportation, e-commerce and business services under the FedEx brand, reported strong [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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