![]() The update is part of the reason for both declines, but the entire market is weaker after a better-than-expected jobs report that investors seem to believe means the Fed will have to keep raising interest rates.įinished Friday down 2.8% and 2.1%, respectively. That might be the only positive to take away from the FedEx memo.įedEx stock closed down 0.5% at $154.41. Online shoppers, however, should have an easier time getting packages in a timely manner. The economy is slowing and people are likely to spend less at Christmas. There isn’t much of a silver lining for investors following the Reuters report. And UPS generates roughly 28% of its sales and operating profit in the final quarter of the year which, of course, includes the year-end holiday season. FedEx doesn’t report its results using a calendar quarter-its fiscal year end happens in May. The holiday shipping season is typically busy. ![]() “We are constantly collaborating with customers on their projected shipping needs and making adjustments as necessary to ensure our network is prepared to deliver outstanding service for this year’s Peak season and beyond.” “As described in FedEx Corp.’s recent first quarter earnings release, weakening macroeconomic conditions are causing volume softness,” said a spokeswoman in an email statement to Barron’s. Some of the holiday weakness reported by Reuters seems to part of the reason for the company’s September warning. Higher costs and lower demand were blamed. 22 were going to be much weaker than expected. The evening before the plunge, FedEx withdrew its full year financial guidance and told investors quarterly results reported on Sept. That 3% dip doesn’t come close to the 21.4% decline shares suffered on Sept. Note: Use of My FedEx Rewards website constitutes your acceptance of our privacy policy and program terms and conditions.Ĭontact My FedEx Rewards at dropped about $5 after the report, falling to roughly $149 from an intraday price of $154. Earnings are available for qualifying purchases and certain exclusions apply. My FedEx Rewards may be modified or terminated at any time without notice. Eligible shipments include: FedEx International First ®, FedEx International Priority ®, FedEx International Priority DirectDistribution ®, FedEx International Priority Plus ®, FedEx International Economy ®, FedEx International MailService ®, FedEx First Overnight ®, FedEx Priority Overnight ®, FedEx Standard Overnight ®, FedEx 2Day ® A.M., FedEx 2Day ®, FedEx Express Saver ®, FedEx 1Day ® Freight, FedEx 2Day ® Freight, FedEx 3Day ® Freight, FedEx International First ®, FedEx International Priority ®, FedEx International Priority DirectDistribution ®, FedEx International Priority Plus ®, FedEx International Economy ®, FedEx International MailService ®, FedEx International Priority ® Freight, FedEx International Economy ® Freight, FedEx Ground ®, FedEx Ground Multiweight ®, FedEx Home Delivery ®, FedEx International Ground ®, FedEx International Ground ® Distribution. **For customers to earn the gift card for My FedEx Rewards,they must ship with and invoice back to the FedEx shipping account number registered for this program. *For details, a complete listing of eligible products and services for rewards and information on requesting refunds and credits, please read My FedEx Rewards Terms and Conditions and the Program Agreement
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