FedEx Drops The Most Since 2008 As Global Outlook Looms Over Economy

FedEx Corp dropped down the most it’s has in a decade as a darkening view of demand for many a shipping service and international courier outside the US led the company to cut its profit forecast and pare international air-freight capacity. The international courier company cut down its outlook just three months after raising it, reflecting an abrupt change in the company’s outlook of the global economy. Adjusted earnings for the fiscal year of 2019 will top out at $16.60 per share, according to a FedEx statement released December 18.…

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