Lean Forecast Fells FedEx Shares

Good news; the economy is continuing to recover at a moderate rate, says FedEx. The courier service topped quarterly expectations, but investors were disappointed with its lackluster guidance, yet the constraints of its outlook are due to internal issues, rather than the economy in general.

On Wednesday FedEx ( FDX - news - people ) reported its fiscal 2010 fourth-quarter sales rose 20.1% to $9.4 billion, from $7.9 billion, beating Wall Street's expected top-line of $9 billion. Earnings meanwhile reached $419 million, or $1.33 per share, from last year's loss of $876 million, or $2.82 per share. Analysts, on average, had anticipated profits of $1.32 per share.

Read Full Article from Forbes

- Posted: 2010-06-16 10:08:58

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