FedEx Earnings Fall Due to Weakness in Air Freight Business
FedEx reports its third-quarter profit fell 31 percent as customers opted for less-expensive ground shipping, hurting the company's airfreight business.
FedEx earnings
Amazon Inks $600 Million Deal with CIA for Cloud Computing
Amazon has reportedly won a $600 million dollar, 10-year contract to supply cloud computing services to the CIA. The online retailer will help the spy agency build a private cloud infrastructure to keep up with emerging technologies.
5 Things to Watch on Wall Street This Week
From Fedex reporting earnings to BlackBerry finally bringing the Z10 smartphone to America, there will be plenty happening to move the markets in the week ahead.
FedEx Delivers Weaker Economic Outlook, Cuts Earnings Forecast
FedEx says the global economy is worsening and it's again cutting its forecast for the fiscal year ending in May. The package delivery company also expects net income for the current quarter ending in November to fall well below last year's quarter.
FedEx Shares Get a Boost After Strong Forecast
Viewed as an economic bellwether, shipping company Federal Express said its profit fell 3% in the third quarter due to higher fuel prices. But its shares rose more than 5% after the company said pricing gains in the fourth quarter will likely mean that it will beat most Wall Street expectations.
Week in Preview: Spotlight on FedEx, Best Buy, Discover
FedEx, the world's leading package-delivery service and an ostensible bellwether of the U.S. economy, will report its latest earnings this week. Also, with the holiday shopping season well underway, Best Buy and Discover Financial Services are also reporting quarterly results.
FedEx Profit Doubles, Narrowly Misses Estimates
Despite more than doubling its earnings over the last three months, economic bellwether FedEx says that it will slash 1,700 jobs as it closes 100 facilities.
Coming This Week: FedEx, Best Buy and Oracle
Last week, the Fed's Beige Book report confirmed that the economy continues to grow, but at a slower pace than in previous periods. This week will bring other economic data to either support or contrast with the Fed's findings as well as some key earnings reports.
Street Wire: Stocks Fall at Open on Weak Housing Data
Stocks opened broadly lower Tuesday, hurt by a weak reading on May housing construction and a tepid forecast from economic bellwether FedEx.
FedEx Delivers on Earnings, but Shares Fall
FedEx, the world's second-largest shipping company, enjoyed brisker business as the economy begins to show more signs of life. Its profit beat expectations, but the economic bellwether's tepid outlook sent shares lower.
FedEx Earnings: A Barometer of Global Recovery
Looking for clues about global growth? Keep an eye on FedEx, which reports quarterly earnings early Wednesday. The world's second-largest package deliverer after UPS, FedEx is a barometer of global demand, and especially of business in China.