Shares of FedEx Corp fell about 7 percent before the bell on Wednesday after the...
FILE PHOTO: A Federal Express delivery truck is shown in downtown Los Angeles, California, U.S., October 24, 2018. REUTERS/Mike Blake
The profit warning and weak quarterly results have resulted in a slew of price target cuts, with Morgan Stanley cutting to $148 from $156, as the full year forecast cut was much bigger than expected and implied a tough fourth quarter. J.P. Morgan expects “turbulence” in the near future and has downgraded the stock to “neutral” from “overweight”, cutting its price target to $202 from $227.
“Mix pressures and labor cost inflation are mounting faster than anticipated at Ground... We are increasingly concerned operating margins in percent terms will be pressured even if Ground can lower costs fast enough to grow operating profit in dollars,” J.P. Morgan analyst Brian Ossenbeck said in a note.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FedEx cuts 2019 forecast again, shares drop 5 percentFedEx Corp on Tuesday cut its 2019 profit forecast for the second time in three ...
Read more »
FedEx cuts profit forecast again on economy, Express woesFedEx Corp on Tuesday cut its 2019 profit forecast for the second time in three ...
Read more »
FedEx Corp.FedEx Corp. stock price, stock quotes and financial overviews from MarketWatch.
Read more »
FedEx stock falls after company misses Wall Street Q3 viewsShares of FedEx Corp. fell more than 3% in the extended session Tuesday after the logistics company missed Wall Street's expectations for its fiscal third...
Read more »
GE shares drop after giving 2019 earnings forecast lower than Wall Street estimatesGeneral Electric gave shareholders an updated earnings forecast on Thursday.
Read more »
Dollar General's 2019 profit forecast disappoints, shares fall 6%Dollar General reported better-than-expected same-store sales on Thursday, as its customers spent more on groceries at the discount retailer's stores.
Read more »
Dollar General 2019 profit forecast disappoints, shares fall 6 percentDollar General Corp forecast 2019 profit below analysts' expectations on Th...
Read more »
GE forecasts 2019 profit below estimates, shares fallGeneral Electric Co forecast profits for 2019 that were below analysts' est...
Read more »
GE expects tough 'reset' year in 2019, then a rebound; shares climbGeneral Electric Co said on Thursday that 2019 would be a difficult, 'reset...
Read more »
FedEx falls after missing on earnings and revenueFedEx is set to report earnings after the bell
Read more »