Comment / On the wires: FedEx fundamentals on the slide, debt used to shore up cash balances...

“Our performance continues to be negatively impacted by a weakening global macro environment (…). Despite these challenges, we are positioning FedEx to leverage future growth opportunities as we continue the integration of TNT Express, enhance FedEx Ground residential delivery capabilities and modernize the FedEx Express air fleet and hub operations.” –Frederick W. Smith, FedEx chairman and chief executive officer, 17 September 2019. 

Does it sound a bit too optimistic? If it didn’t, it wouldn’t be Fred Smith, right?

Down about 11% in after-hours ...