FedEx slides after earnings miss (FDX, UPS)
Fedex is sliding, down about 4%, after reporting disappointing third quarter results.
The courier giant announced adjusted earnings of $2.35 on revenue of $15 billion.
Analysts expected adjusted EPS of $2.62 on revenue of $15 billion.
FedEx reaffirmed its full-year EPS of $10.80-$11.30, excluding pension accounting adjustments.
FedEx's operating profit margin was 7.5%, down from 9.2%. Operating margin for its Ground segment fell to 11% from 12.6%.
UPS stock is falling in sympathy, dropping almost 1%.
Markets Insider