FedEx shares down 7% premarket after earnings, guidance miss lowered estimates
Shares of FedEx Corp. FDX, -0.54% fell more than 3% in the extended session Tuesday after the logistics company missed Wall Street's expectations for its fiscal third quarter, thanks in part to higher costs for its FedEx Ground business. FedEx said it earned $739 million, or $2.80 a share, in the quarter, compared with $2.07 billion, or $7.59 a share, in the year-ago period. Adjusted for one-time items, FedEx earned $797 million, or $3.03 a share, in the quarter, compared with $1.
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