FedEx Corp warned on Tuesday that full-year earnings would miss analysts' e...
FILE PHOTO: A Federal Express Ground truck travels down a highway through Carlsbad, California, U.S., September 16, 2019. REUTERS/Mike Blake
“Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty,” said Chief Executive Frederick Smith, who for the first time on a company conference call, acknowledged that Amazon had emerged as a shipping rival.
“This is very disappointing for all shareholders,” said Trip Miller, managing director at Memphis-based hedge fund Gullane Capital Partners.
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