A couple of days before FedEx released its interim update there was a grin on my face when I read that FedEx, according to some sell-side analysts, could use funds to buy back more of its own stock – a la XPO Logistics, given the suggested size of the buybacks – while pushing back aircraft orders.

Then, when the market closed on Tuesday, the share plunged 5% in after-market trade, when volumes are typically thin, and were down below $170 before the ...

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