FedEx Cuts Full-Year Outlook After Posting Lower Profit, Revenue in 1Q -- Update
FedEx cut its outlook after posting lower profit and revenue in its fiscal first quarter after weaker-than-expected demand, particularly in the U.S. domestic package market, dragged down its results. Shares fell 8% to $300.39 a share in after-hours trading on Thursday. The stock was up 19% this year at market close.