10:02 ET -- FedEx Corp. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. FedEx said Thursday that its first-quarter results would be below the company's expectations as global volumes decline and macroeconomic trends worsened. The company said FedEx Express results were curbed by macroeconomic weakness in Asia and service challenges in Europe. That led to a revenue shortfall of about $500 million compared with the company's forecast. FedEx Ground revenue was about $300 million below company forecasts. The stock was down 23%, to $158.02, at 10 a.m. ET. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

September 16, 2022 10:18 ET (14:18 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
FedEx (NYSE:FDX)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more FedEx Charts.
FedEx (NYSE:FDX)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more FedEx Charts.