September 18, 2012 |
Stocks opened lower on Wall Street on Tuesday after FedEx Corp. reported a drop in earnings amid a global economic slowdown. The Dow Jones industrial average was down 4 points, essentially flat, at 13,549, shortly after the opening bell. The Standard & Poor's 500 index lost 3 points, or 0.2%, to 1,458. The Nasdaq was off 5 points, or 0.2%, to 3,174. FedEx posted $459 million, or $1.45 a share, in profits in its fiscal first quarter, down 1% from $464 million, or $1.46, for the same period a year ago. FedEx, whose performance is seen as a harbinger for the broader economy, lowered its forecast profits for fiscal 2013.
December 21, 2012 |
Getting holiday packages swiped from outside your door is an unfortunate risk of online shopping. Unless you're Al Alverson, a Texas homeowner with a security camera. When he returned home one recent day to discover that the FedEx package he was expecting was missing, he turned to his footage and discovered the culprit. And it wasn't the milkman. “I said, 'Oh my God, it's the UPS guy,'” Alverson told KHOU 11 News . In a video that's now posted on YouTube and circulating around Reddit, the Grinch in a brown uniform drops off a parcel at Alverson's door and then soon returns to nab the FedEx package.
October 22, 2012 |
FedEx Corp. said Monday it will hire 20,000 seasonal employees to work on holiday shipping that is expected to jump 13% from last year. Between Thanksgiving and Christmas, the global shipping giant predicts it will ship 280 million packages. Dec. 10 is expected to be the busiest day of the season with 19 million shipments, up 10% compared with last year. That's a spot of good news for what has been a dismal year for a company considered to be a bellwether of the global economy.
December 10, 2012 |
With a little over two weeks left before Christmas, it's crunch time for shoppers - - and shippers too. FedEx is projecting that it will have its busiest shipping day of the year Monday, delivering an estimated 19 million packages worldwide and shattering the previous record of 17.2 million packages on Dec. 12, 2011. Strong online sales, mainly, have buoyed shipping volumes this year, the company said, adding that it expects to deliver 280 million packages worldwide between Thanksgiving and Christmas -- a 13% year-over-year surge.
September 19, 2008 |
FedEx Corp. said its fiscal first-quarter earnings fell 22% but still met Wall Street's expectations, as cost cuts partially offset the effect of slowing global growth. The package delivery company also predicted that it would beat analysts' expectations for its fiscal second quarter and said it would raise shipping rates at its Express unit early next year. Memphis, Tenn.-based FedEx earned $384 million, or $1.23 a share, in the three months that ended Aug. 31, compared with $494 million, or $1.58, a year earlier.
September 5, 2012 |
NEW YORK -- Stocks were initially choppy after FedEx Corp. ratcheted down its profit outlook for the company's first quarter, citing "weakness in the global economy. " The international shipping company is seen as an economic bellwether, so its dimming fortunes added to worries over worldwide growth slowing. Meanwhile, the European Central Bank, which meets Thursday, is planning "unlimited purchases of government debt" to aid struggling Eurozone countries, Bloomberg News reported.