FedEx sets off market retreat with very negative guidance

FedEx sets off market retreat with very negative guidance

Yesterday, September 15 FedEx (FDX) preannounced a huge miss for the upcoming quarter (due to be reported on September 22) and withdrew its guidance for the full year. Researchers at Deutsche Bank said that it’s the worst report they’ve seen in two decades. “FedEx preannounced last night the weakest set of results we’ve seen relative to expectations in our ~20 years of analyzing companies,” the company’s analysts wrote in a note to clients.