Sumting Wong
TB Lurker
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- FedEx Corporation (FDX) After Hours Trading
FDX $173.88 * $-11.13 Down 6.02% 52 Week low in normal hours trading was $181.28
- The logistics company lowered its full year 2019 earnings guidance to a range of $15.50 to $16.60, down from $17.20 to $17.80 per share. Analysts expected $17.33 per share.
- The company announced plans to cut costs, including a voluntary buyout program, limiting hiring, reducing international network capacity at FedEx Express and reducing discretionary spending to help save costs.
- "Global trade has slowed in recent months and leading indicators point to ongoing deceleration in global trade near-term," said Alan B. Graf, Jr., executive vice president and chief financial officer of FedEx.