FedEX Predicts Profits to Be Down
FedEX Corp. (NYSE: FDX) is down over 3% in pre-market trading today after the shipping and delivery company projected its first quarterly earnings decline in nearly three years. The company forecasted a quarterly profit of $1.37 to $1.43, down from a June 19th forecast of $1.45 to $1.60. FedEx's earnings decline is likely due to a lack of demand for express packages, which provide most of the company's sales.
|FedEX Predicts Profits to Be Down|