Comment / Against the odds: FedEx – 'mayday' from Memphis destroys confidence

FedEx (FDX) hammered: it’s pitch dark out there, we are riding the storm judging by reaction in after-hours trade on Thursday, and then across Asia and Europe today, after a massive profit warning from FedEx for the quarter ended 31 August (fiscal Q1 23). At least, we were warned.

The Memphis-based integrator unusually released overnight a trading update that was simply dreadful – a (preliminary) earnings miss of epic proportions that left little room to the bulls (FDX consensus: $286; before ...