Posted on 09/16/2022 6:21:42 AM PDT by Presbyterian Reporter
FedEx FDX –0.07% stock was tumbling after the company doubly disappointed investors Thursday by announcing weak quarterly results earlier than expected while withdrawing its full-year financial guidance.
The stock was down 20% in premarket trading Friday after FedEx (ticker: FDX) said it earned $3.44 a share from $23.2 billion in sales in its fiscal 2023 first quarter which ended in August. Wall Street was looking for $5.10 in per-share earnings from $23.5 billion in sales.
Sales were close, but management said revenue was impacted by “global volume softness.” The economy is slowing. Costs are also a problem. The company is going to close more than 90 FedEx office locations, slow hiring, and consolidate some package sorting operations, among other actions, to save some money
(Excerpt) Read more at barrons.com ...
FEDEX will open in 8 minutes.
Currently is-—
$161.64 -43.23 (-21.10%)
More and more normals are reduced to buying essentials (food, gas, electricity); far less toys being shipped around...
How long until Amazon buys them out?
Not looking like a happy market opening over on Bloomberg:
But one more time, this is not incompetence on the part of the Biden admin; it is part of their plan.
Futures down approx. -300
No demand for goods?
FedAm. Kinda rolls right off the tongue doesn't it.
Think about it. Brandon has made the S&P 500 not much better than a savings account.
FDX FEDEX CORP COM
$158.90 -45.97 (-22.44%)
Fedex at the open today.
The 3rd quarter has not yet ended. October looks pretty dismal for the stock market.
FedEx is saying all this just to embarrass Biden. I think the FBI should raid the houses of all FedEx executives. If nothing else, that would keep the UPS executives in line.
Turn down legitimate business to show your wokeness and into the shitter you go!
FDX FEDEX CORP COM
$155.86 -49.01 (-23.92%)
after 9 minutes of trading.
FedEx is crappy. Our company ships UPS and motor freight. We tried to get fedex to put us on their pick up route which goes through our industrial park, but the agent was too busy to work with us. Oh well to hell with fedex, I’m fed up!
Dow down to 30,627.67 ....-332.73
Fedex 52 week high—
266.79
01/05/2022
Fedex is now down $100 from its 52 week high.
That statement makes no sense.
Sales and revenue are largely considered the same metric, and both talk about the amount of money earned through sales. By and large, the terms “sales,” “revenue,” and “sales revenue” are all used interchangeably.
FTA: The economy is slowing.
This is certainly true. However FedEx was able to meet the sales forecast.
FTA: Costs are also a problem.
Costs are the problem.
FTA: The company is going to close more than 90 FedEx office locations, slow hiring, and consolidate some package sorting operations, among other actions, to save some money
A sure sign the country is in a recession.
The whole market is in the midst of a dumpster dive. Soon the political consequences will be unavoidable for the Democrats. Those white suburban women they are counting on, won’t like reading their October statements from their brokers. Abortion won’t matter as much to them as their lost money.
What are the chances nanntzi has a short position on this and other crashing stocks
After all, she is obviously finance savvy and HAD to have known all the trillions in the I.R.Act would cause a massive drop in stocks.
Ever see the movie
The Big Short
. ?
( you should watch it ,
EVERY american should watch it).
.
FedEx has become a terrible company.
Any business having received freight from them knows this and is not surprised by this report.
Time for a major shakeup.
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