The truth matters and there’s little point in attempting to windowdress a catastrophe. Near the end of last week, global courier FedEx (FDX) — which had previously been on a solid run this year — suffered a devastating blow. Simply put, its results for the fiscal first quarter failed to live up to expectations, sending FDX stock into the abyss. Nevertheless, for the daring, a comeback wager could be enticing.
We’ll get into the positive stuff later. For now, let’s address the giant pink elephant in the room — FedEx really stunk up the field. As Barchart content partner StockStory mentioned, the company missed on both the top and bottom lines. Additionally, the outlook disappointed observing experts, with projected earnings per share a particular low point. Fundamentally, management cited weaker-than-expected demand in the domestic package market.
